Minnesota Sports and Events

Nonprofit profile at a glance

EIN
851580569
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Bloomington, MN, USA
Phone
6128169771
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$13,731,897
Expenses
$11,115,233
Assets
$5,559,240
Liabilities
$3,285,719

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

Leadership & pay

29 people listed

Executive titles in this filing

  • WENDY BLACKSHAW (PRESIDENT, C)

Highest reported compensation

  • WENDY BLACKSHAW (PRESIDENT, C): $240,000 total reported compensation
  • MATTHEW MEUNIER (DIRECTOR): $177,000 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 drive economic benefit and support meaningful community engagement in the bloomington, minneapolis and st. Paul regional area by attracting and managing world class sporting events.

What it reported doing in 2024

Big 10 2024: as the local organizing committee (loc), Minnesota sports and events (mnse) is thrilled to bring both the big ten women's and men's basketball tournaments to target center. Thousands of big ten alumni, students and basketball fans traveled to Minnesota over two weeks in march 2024 to witness some of the most competitive and exciting collegiate basketball in the country the heart of minneapolis transforms to host one of the nation's most prestigious college basketball events. All 14 big ten conference women's & men's basketball teams descend on the target center with their eyes set on winning the conference title. Catch all your favorite big ten tournament teams live.

Operating model

Revenue model
Earned-program. 97% 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

MIXED - 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: 0
  • Transparency & Controls: 77
  • Accountability: 95
  • Sustainability: 53
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.1%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 77% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 46.9% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 20 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $240K · 29 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.