Minneapolis Downtown Improvement District
Nonprofit profile at a glance
- EIN
- 264259628
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6123333807
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $10,651,681
- Expenses
- $10,255,500
- Assets
- $3,842,102
- Liabilities
- $2,183,875
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
101 people listed
Executive titles in this filing
- ADAM DUININCK (PRESIDENT,CEO)
Highest reported compensation
- ADAM DUININCK (PRESIDENT,CEO): $371,088 total reported compensation
- KATHRYN REALI (COO): $234,042 total reported compensation
- BENJAMIN SHARDLOW (CHIEF OF STAFF): $179,701 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Enhancing the vitality of downtown minneapolis by making an area of approximately 120 square blocks (the "district") cleaner, greener, safer, and vibrant.
What it reported doing in 2024
The organization provided a variety of services that enhance the safety and appeal of the district, such as clean and safe ambassadors, landscaping, programming, snow removal, and maintenance and repairs of public areas (collectively, the "services"). The services that were provided in addition to municipal services that are otherwise available were intended to promote the district as a destination for shopping, dining, entertainment, and operating businesses. The services were funded by assessments collected by the city of minneapolis on assessable property within the 120 block district. The city of minneapolis entered into a contract with the organization to provide the services. The organization subcontracted with appropriate vendors to obtain the various services.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- 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: 78
- Accountability: 90
- Sustainability: 38
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 3rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 95.5%; rating input score 95; 25th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 98.7%; rating input score 99; 31st 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: Pass
- CEO compensation review process: Fail
- 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: 3.7%; rating input score 49; 49th percentile among comparable filings
- Total-asset coverage ratio: 0.37; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 24; 24th percentile among comparable filings
- Officer compensation ratio: 1.4%; rating input score 82; 82nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.1% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 4.7% per year; rating input score 100; 34th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 76 of 77 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $371K · 101 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $8.1M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 5 filed related-organization links
- 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: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- Moderate — Sustainability: Operating margin scored 49/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 24/100.