Minnesota Shopping Center Association

Nonprofit profile at a glance

EIN
411609394
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Bloomington, MN, USA
Phone
9528883491
Rating confidence
Limited

Official website

Reported finances

Revenue
$487,482
Expenses
$499,726
Assets
$153,593
Liabilities
$265

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

Leadership & pay

18 people listed

Executive titles in this filing

  • JEREMY WELTER (PRESIDENT/PAST PRESIDENT)
  • MATT HAZELTON (1ST VP/PRESIDENT)
  • EMILEE DECOTEAU (PAST PRESIDENT/DIRECTOR (THROUGH NOV))
  • KARLA KELLER TORP (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KARLA KELLER TORP (EXECUTIVE DIRECTOR): $169,178 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 provide a forum for exchange of information among shopping center developers, owners, managers, brokers, investors, retailers, and all professionals serving the Minnesota retail real estate industry for mutual benefit.

What it reported doing in 2024

Promote conferences and seminars relating to shopping center development and industry, approved for continuing real estate education credit. Also hold monthly third thursday networking events. Held october, november, january through june, august and september.

Operating model

Revenue model
Earned-program. 100% 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: 71
  • Accountability: 84
  • Sustainability: 28
  • Growth: 0

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; 64th 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: 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: 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.5%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 33.9%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.8% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -12% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $169K · 18 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.