New Millennium Building Company

Nonprofit profile at a glance

EIN
815179098
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Brooklyn Center, MN, USA
Phone
7632357900
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$1,393,850
Expenses
$1,139,710
Assets
$14,321,940
Liabilities
$15,146,433

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

Leadership & pay

3 people listed

Executive titles in this filing

  • NICHOLE SCHMIDT (PRESIDENT)

Highest reported compensation

  • CHRISTINE REED (TREASURER): $129,715 total reported compensation
  • XAO VANG (SECRETARY): $84,268 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 support the mission and vision of new millennium academy through the ownership of real property.

What it reported doing in 2024

To manage real estate and a building for lease to its beneficiary organization new millennium academy, a Minnesota charter school.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 35
  • Sustainability: 69
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.2%; rating input score 74
  • Program expense ratio: 96.6%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 18.2%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 12.57; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 74.2% of revenue deployed · 96.6% of spending went to programs
  • Governance: 1 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $130K · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.