Minnwest Technology Foundation

Nonprofit profile at a glance

EIN
770704901
IRS 990-EZ coverage
2014–2024
Forms available
Form 990-EZ 2024, Form 990-N 2010
Location
Willmar, MN, USA
Phone
3202229750
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$40,005
Expenses
$31,563
Assets
$12,092
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • CHRIS GORANS (PRESIDENT)

People named in this filing

  • BETH WOSMEK (CFO/TREASURER)
  • CHRIS GORANS (PRESIDENT)

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

The minnwest technology's purpose is to provide scholarships for students going into stem (science, technology, engineering, math) fields, to promote stem in our region, and to provide community enrichment opportunities. The foundation will also promote advancement in the fields of biotechnology, bio-science, agri-business, renewable energy, engineering and chemistry for the state of Minnesota. The minnwest technology foundation hopes that the long-term benefits will include a stronger pool of employees in this area and within the state of Minnesota, which, in turn, will make the state more competitive within the aforementioned fields of industry.

What it reported doing in 2024

University of mn - the foundation is dedicated to advancing stem education. We approach this in part by purchasing lab equipment to help outfit a university of mn outreach center that is used by professors and students. During the fiscal year, lab equipment worth $1,700 was purchased as part of minnwest technology foundation's support u of mn.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 85% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 100
  • Sustainability: 57
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.5%; rating input score 70
  • Program expense ratio: 89.3%; rating input score 89

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: 21.1%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -10.7% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: -4.2% per year; rating input score 0; 36th percentile among comparable filings
  • Asset growth: -24.4% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 70.5% of revenue deployed · 89.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $28K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2014 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.