Minnesota Builders Exchange

Nonprofit profile at a glance

EIN
410414430
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123812620
Rating confidence
Limited

Official website

Reported finances

Revenue
$1,805,153
Expenses
$1,858,399
Assets
$3,539,470
Liabilities
$1,216,985

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

Leadership & pay

15 people listed

Executive titles in this filing

  • DAVID SIEGEL (EXECUTIVE DIRECTOR/SECRETARY)
  • MIKE CARLSON (PRESIDENT)
  • HEIDI SEDLACEK (VICE PRESIDENT)
  • GREG GRAZZINI (PAST PRESIDENT)

Highest reported compensation

  • DAVID SIEGEL (EXECUTIVE DIRECTOR/SECRETARY): $204,176 total reported compensation
  • DONALD O'CONNOR (EMPLOYEE): $141,681 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 design and offer programs that will assist companies in the construction industry and their employees to grow through the exchange of plans, sharing of knowledge and creation of powerful industry connections. Through achievement of this mission, mbex ensures a vibrant and inclusive construction industry that collaboratively, safely and sustainably builds upper midwest communities.

What it reported doing in 2024

Provide networking opportunities to create powerful connections via activities such as golf tournaments, sporting clays, member mixers, parking lot barbecue and regional social events.

Operating model

Revenue model
Earned-program. 91% 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: 60
  • Accountability: 79
  • Sustainability: 36
  • 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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 1.9; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 18.6%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 14 of 14 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $204K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.