Twin Cities-metro Certified Development
Nonprofit profile at a glance
- EIN
- 411672450
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Vadnais Heights, MN, USA
- Phone
- 6514818081
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,938,336
- Expenses
- $3,960,053
- Assets
- $7,493,854
- Liabilities
- $3,277,002
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
22 people listed
Executive titles in this filing
- PETE INGEBRAND (PRESIDENT)
- PAUL LAMBERT - SECRETARY (SENIOR VICE PRESIDENT)
- DEBORAH GUSTAFSON - SENIOR (LENDER/SENIOR VICE PRESIDENT)
Highest reported compensation
- PETE INGEBRAND (PRESIDENT): $330,934 total reported compensation
- DEBORAH GUSTAFSON - SENIOR (LENDER/SENIOR VICE PRESIDENT): $309,697 total reported compensation
- SHEIL NELSON (SENIOR LENDER): $270,569 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 stimulate private sector investment by providing funding for small business expansions in Minnesota and western Wisconsin through the utilization of the small business administration's 504 loan program.
What it reported doing in 2024
To stimulate private sector investment by providing funding for small business expansions in Minnesota and western Wisconsin through the utilization of the small business administration's 504 loan program. Businesses are eligible for the loans based on their purchase of fixed assets, primarily real estate, for their business use. The eligible businesses should retain and create at least one job for every $90,000 (or $140,000 for small manufacturers) in sba guaranteed funds or meet a public policy goal as dictated by the sba. The organization had 55 loan approvals and 51 loan fundings for approximately $55.7 million during fiscal year 2025. It is anticipated that within two years of funding, 513 jobs will be created and/or retained as a result of these loans.
Operating model
- Revenue model
- Earned-program. 95% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 97% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 82
- Accountability: 100
- Sustainability: 35
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.8%; rating input score 81
- Program expense ratio: 84.1%; rating input score 84
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: -0.6%; rating input score 31; 31st percentile among comparable filings
- Total-asset coverage ratio: 1.89; rating input score 60; 60th percentile among comparable filings
- Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
- Officer compensation ratio: 43.3%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings
- Revenue growth: 2% per year; rating input score 100; 20th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 24th percentile among comparable filings
Details
- Where the money goes: 80.8% of revenue deployed · 84.1% of spending went to programs
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $3.3M in reported program spending
- Leadership: top reported pay $331K · 22 people listed · 3 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules · includes grants and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 25 filed money-flow records
- Related organizations: 5 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 31/100.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 24/100.