Corcoran Neighborhood Organization

Nonprofit profile at a glance

EIN
411535894
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6127247457
Rating
86
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Support

Official website

Reported finances

Revenue
$340,127
Expenses
$382,559
Assets
$503,115
Liabilities
$69,284

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

Leadership & pay

4 people listed

People named in this filing

  • Chloe Jackson (Chair)
  • Matt Kazinka (Treasurer)
  • Simon Riordan (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Since its founding in 1975, CNO has sought to support and advance the following mission: Corcoran, in all our diversity, will strive to strengthen, improve, and protect the unique character, livability, and socil fabric of our neighborhood.

What it reported doing in 2024

In 2024, the organization celebrated its 49th anniversary of being a place-based nonprofit in South Minneapolis with a clear focus on supporting community wellbeing through its resources, programs, and partnerships. This includes the Midtown Farmers Market (MFM) which has become a cornerstone program for the organization, and a beloved farmers market by vendors and patrons alike. The MFM has been able to adapt to a variety of challenges in the past several years that allowed it attract an estimated 40,000 market goers in 2024.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 79.7%; rating input score 80
  • Fundraising efficiency: $41.67 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.5%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 12.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 9.5% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 79.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $305K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.