Bloomington Minnesota Travel & Tourism

Nonprofit profile at a glance

EIN
411696432
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Bloomington, MN, USA
Phone
9528588500
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$6,358,267
Expenses
$6,405,502
Assets
$8,243,791
Liabilities
$4,309,156

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Bonnie Carlson (President and CEO)

Highest reported compensation

  • Bonnie Carlson (President and CEO): $392,184 total reported compensation
  • Dan O'Neill (VP of Strategy and Sales): $269,502 total reported compensation
  • Jan Kroells (VP of Advertising): $248,061 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance the overall Bloomington experience and contribute to the economic well-being of the city through leadership and innovation in the hospitality industry.

What it reported doing in 2024

To promote the city of Bloomington, Minnesota by attracting meetings, conventions, and tourism business to the community and to enhance and contribute to the overall identity and economic well-being of the community.

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 79
  • Accountability: 91
  • Sustainability: 32
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.7%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 14.2%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.3M in reported program spending
  • Leadership: top reported pay $392K · 15 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.