Minnesota Indigenous Business Alliance

Nonprofit profile at a glance

EIN
815041824
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2016
Location
Saint Paul, MN, USA
Phone
6124311804
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Alliance/Advocacy

Official website

Reported finances

Revenue
$89,029
Expenses
$333,191
Assets
$111,351
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Pamela Standing (Former Executive Director)
  • Irene Folstrom (Executive Director)

Highest reported compensation

  • Pamela Standing (Former Executive Director): $69,553 total reported compensation
  • Irene Folstrom (Executive Director): $4,327 total reported compensation

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

Overview

Mission

ACT: Align Partners, Connect Businesses to Resources and Transform Native Economies.

What it reported doing in 2024

EDUCATION AND OUTREACH - Trade and exchange have not fully returned to normal in 2024. MNIBA continues to assist businesses transition to a virtual platform. MNIBA engaged with partner organizations to look at what is needed to create equitable parity in accessing resources, tools, technical assistance, and equitable access to affordable financial resources. MNIBA has become a national leader in the area of Indigenous/Native cooperative development and is called upon frequently to present and speak with communities. Native entrepreneurs and artists received direct business supports including review of market, financial and business plans, network connections and introductions, and referrals to financial resources. MNIBA's new branding and website to have continuity in messaging in all communication platforms.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.7%; rating input score 72
  • Fundraising efficiency: $4.3 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -274.2%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 22.2%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 27.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $239K in reported program spending
  • Leadership: top reported pay $70K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.
  • 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: Fundraising efficiency scored 36/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.