Minnesota Museum of Mining
Nonprofit profile at a glance
- EIN
- 410773295
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990-EZ 2024
- Location
- Chisholm, MN, USA
- Phone
- 2182542179
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $66,739
- Expenses
- $44,387
- Assets
- $193,672
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- CHUCK PALMQUIST (PRESIDENT)
- MARY BOVITZ (VICE PRESIDENT)
People named in this filing
- CHUCK PALMQUIST (PRESIDENT)
- MARY BOVITZ (VICE PRESIDENT)
- CAROL BORICH (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To preserve the history and growth of the iron ore industry of the state of Minnesota
What it reported doing in 2024
Facility is a museum. Items on display are related to the iron mining industryin northern Minnesota. This provides education and understanding as to howthe mining industry was formed and how it operated. Total attendance in 2024 was 4475.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 61
- Transparency & Controls: 100
- Sustainability: 70
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 52%; rating input score 52
- Program expense ratio: 75.4%; rating input score 75
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 33.5%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 4.36; rating input score 82; 82nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -6.2% per year; rating input score 0; 33rd percentile among comparable filings
- Revenue growth: -0.2% per year; rating input score 0; 51st percentile among comparable filings
- Asset growth: 1.2% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 52% of revenue deployed · 75.4% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $33K in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 14 filing years from 2010 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 — Financial Efficiency: Mission deployment rate scored 52/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.