Institute of Real Estate Management - Minnesota Chapter No 45

Nonprofit profile at a glance

EIN
510204264
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
9529284664
Rating confidence
Limited
Sector
Real Estate Associations

Official website

Reported finances

Revenue
$219,669
Expenses
$209,936
Assets
$175,692
Liabilities
$52,634

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

Leadership & pay

17 people listed

Executive titles in this filing

  • BRANDON OTTING (PRESIDENT)
  • PATRICK LENSING (VICE PRESIDENT)
  • ALEXANDER LEUTHNER (IMMEDIATE PAST PRESIDENT)

People named in this filing

  • BRANDON OTTING (PRESIDENT)
  • PATRICK LENSING (VICE PRESIDENT)
  • ALEXANDER LEUTHNER (IMMEDIATE PAST PRESIDENT)

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

To educate real estate managers and certify the competence and professionalism of individuals and organizatons engaged in the management of real estate. Irem serves as an advocate on issues affecting the real estate management industry, enhancing and supporting its members' professional competence so they can better meet the needs of those who utilize their services.

What it reported doing in 2024

Luncheon and dinner meetings to promote interaction among members and to promote planning/scheduling of events and seminars for member education.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

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: 90
  • Accountability: 88
  • Sustainability: 44
  • 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; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 4.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 17 of 17 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $44K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Highest-paid contractors: 1 contractor listed · $127K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.