Minnesota Technology Association

Nonprofit profile at a glance

EIN
411440301
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
9522304555
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$2,425,062
Expenses
$2,316,923
Assets
$1,045,832
Liabilities
$502,589

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

Leadership & pay

39 people listed

Executive titles in this filing

  • JEFF TOLLEFSON (PRESIDENT & CEO)

Highest reported compensation

  • JEFF TOLLEFSON (PRESIDENT & CEO): $293,640 total reported compensation
  • LONNI RANALLO (VP OF FINANCE AND ADMINISTRATION): $156,870 total reported compensation
  • MOLLY DOYLE (VP, COMMUNITY & MEMBER ENGAGEMENT): $143,652 total reported compensation

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

Overview

Mission

Minnesota technology association's mission is to build a more vibrant, innovative, and inclusive technology ecosystem in Minnesota by enabling the connections, public policies, and partnerships needed to help our tech community thrive.

What it reported doing in 2024

Minnesota's technology-driven companies achieve the greatest success when they have access to exceptional talent, dedicated public policy advocates, and are part of an innovative, inclusive technology community. The Minnesota technology association nurtures each of these attributes within our state, enabling Minnesota technology-driven businesses, professionals, and communities to thrive. The Minnesota technology association creates meaningful connections and career advancement through it's respected programs, educational opportunities, and networking events. The association runs internship programs to assist students in the stem field find meaningful work, and to drive Minnesota's stem workforce development. The Minnesota technology association also leads in advancing tech-related public policy issues to Minnesota's state legislature and serves as the local affiliate of tecna, the technology councils of north america. Our membership base includes companies that work the spectrum of technology, from it, advanced manufacturing, life sciences, fintech, agtech, cleantech, and edutech, and range from long-established corporations to small and growing startups. The Minnesota technology association's mission is to accelerate growth, innovation, and the development of a strong, inclusive tech ecosystem in Minnesota.

Operating model

Revenue model
Earned-program. 98% 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: 73
  • Accountability: 98
  • Sustainability: 31
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 46%; rating input score 46; 15th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.2%; rating input score 97; 27th 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: 4.5%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 35 of 36 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $294K · 39 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 30 filed money-flow records
  • Related organizations: 26 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.

Key Signals

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

  • Moderate — Transparency & Controls: Grant itemization coverage scored 46/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.