Minnesota Sports Corp
- Assets
- $8.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/2015
- Data as of
- 12/2017
- EIN
- 47-3410837
Organization Overview
Minnesota Sports Corp is located in Minneapolis, MN. The organization was established in 2015. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. Minnesota Sports Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2017, Minnesota Sports Corp generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (36.4%) each year. All expenses for the organization totaled $738.7k during the year ending 12/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
SERVE AS THE LOCAL ORGANIZING COMMITTEE FOR THE 2019 FINAL FOUR HELD IN MINNEAPOLIS, MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINNESOTA SPORTS CORP. WILL SERVE AS THE LOCAL ORGANIZING COMMITTEE FOR THE 2019 FINAL FOUR. AS SUCH, MSC IS RESPONSIBLE FOR ORGANIZING, ADMINISTERING, AND PROMOTING THE FINAL FOUR TOURNAMENT AND RELATED EVENTS AND ACTIVITIES. MSC WILL COLLABORATE WITH THE NCAA AND THE UNIVERSITY OF MINNESOTA, A LAND GRANT UNIVERSITY, WHICH HAS BEEN DESIGNATED AS THE HOSTING COLLEGIATE INSTITUTION FOR THE 2019 FINAL FOUR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Mortenson President And CEO | OfficerTrustee | 20 | $61,000 |
Mary Brainerd Secretary/treasurer | OfficerTrustee | 1 | $0 |
David Mortenson Board Member | Trustee | 1 | $0 |
Tom Mcginnis Board Member | Trustee | 1 | $0 |
Melvin Tennant Board Member | Trustee | 1 | $0 |
Michele Kelm-Helgen Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,643,333 |
| Investment income | $62 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,644,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $197,618 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,572 |
| Payroll taxes | $27,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,516 |
| Fees for services: Accounting | $50,357 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,067 |
| Advertising and promotion | $17,395 |
| Office expenses | $30,063 |
| Information technology | $751 |
| Royalties | $0 |
| Occupancy | $50,690 |
| Travel | $5,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,776 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,746 |
| Insurance | $16,216 |
| All other expenses | $0 |
| Total functional expenses | $738,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,237,382 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,965,722 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,000 |
| Total assets | $8,338,408 |
| Accounts payable and accrued expenses | $19,028 |
| Grants payable | $0 |
| Deferred revenue | $725,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $744,028 |
| Net assets without donor restrictions | $7,133,130 |
| Net assets with donor restrictions | $461,250 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,594,380 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Minnesota Sports Corp has recieved totaling $292,656.
| Awarding Organization | Amount |
|---|---|
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $166,656 |
Minneapolis Foundation Minneapolis, MN PURPOSE: GENERAL OPERATING SUPPORT | $126,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bella Mente Quantum Racing Association Minneapolis, MN | $41,740,405 | $5,723,363 |
Iowa Girls High School Athletic Union West Des Moines, IA | $5,061,518 | $4,564,466 |
National Archery In The Shools Program Inc Waldo, WI | $6,967,095 | $3,407,459 |
United States Bowling Congress Inc Milwaukee, WI | $609,702 | $1,811,037 |
Iowa Harness Racing Association Eagle Grove, IA | $797,423 | $1,325,981 |
Iowa Soccer Association West Des Moines, IA | $597,318 | $1,619,010 |
Newjets Inc Eden Prairie, MN | $1,209,250 | $1,209,489 |
Bowhunting Preservation Alliance Inc New Ulm, MN | $19,509 | $847,704 |
The Forest Lake Athletic Association Forest Lake, MN | $599,285 | $725,357 |
Wisconsin Trapshooting Association Inc Burlington, WI | $3,345,328 | $827,218 |
Minnesota Sports Corp Minneapolis, MN | $8,338,408 | $1,644,540 |
Blackhawk Ski Club Middleton, WI | $656,855 | $589,659 |