Minnesota Diversified Industries Inc

Nonprofit profile at a glance

EIN
410941924
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6519998200
Rating
68
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Sheltered Employment

Official website

Reported finances

Revenue
$9,262,535
Expenses
$9,859,557
Assets
$30,640,828
Liabilities
$14,844,143

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

Leadership & pay

19 people listed

Executive titles in this filing

  • ERIC BLACK (PRESIDENT & CEO)
  • JEANNE EGLINTON (VICE PRESIDENT OF EMPLOYMENT SERVICES)

Highest reported compensation

  • ERIC BLACK (PRESIDENT & CEO): $382,525 total reported compensation
  • RODNEY WOOD (CHIEF OPERATING OFFICER): $293,056 total reported compensation
  • MARVIN HANNON (CHIEF FINANCIAL OFFICER): $222,971 total reported compensation

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

Overview

Mission

Mdi's vision is meaningful employment opportunities for all people with disabilities and is supported through our mission to serve people with disabilities by offering inclusive employment opportunities and services. Refer to schedule o for additional detail.

What it reported doing in 2024

Mdi is a social enterprise business model employing both people with and without disabilities. Individuals with disabilities develop skills through training and support which allows them to gain experience and earn more than minimum wage and benefits. Employee development is inherent in our work with employees with disabilities, getting opportunities to gain skills that allow them to apply for and get promotions. Mdi also offers work and training programs for schools, county and rehabilitation agencies. Mdi's vision is meaningful employment for all people with disabilities. In 2024, unified work provided soft skills training and experiences to people with disabilities through 26 classes with 500 participants. Classes are either in person or via zoom and are effective not only for people with disabilities but also people with other barriers to employment. New service options include: 1. Launching of the unified work online learning platform so people with disabilities can have access to similiar experiences at any time, almost anywhere. 2. Offering virtual reality work experiences that provide three to five minute opportunities for people with disabilities to get experiences in a variety of industries and actually see what it might be like to work in a job that they have not experienced. 3. Development and implementation of three stem boxes have been created, stem circuits, stem invent and stem robot to give people with disabilities experiences working in the industry of electricity. These and future stem boxes can give people with disabilites access to careers that they have never thought of pursuing.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 95
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.9%; rating input score 35
  • Program expense ratio: 35.5%; rating input score 35
  • Fundraising efficiency: $1.79 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

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

Sustainability

  • Operating margin: -6.4%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 3.11; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 19.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 34.9% of revenue deployed · 35.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.5M in reported program spending
  • Leadership: top reported pay $383K · 19 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 3 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 35/100.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.