Overview
What is Minneapolis Saint Paul Regional Economic Development Partnership?
The Minneapolis Saint Paul Regional Economic Development Partnership, also known as Greater MSP, is a collaborative nonprofit organization situated in Saint Paul, Minnesota. Established a decade ago, its primary purpose is to foster a shared space for leaders and organizations across various sectors to cooperate and enhance the regional economy, benefiting the residents of the 15-county Minneapolis-Saint Paul metro area. With over 4,500 participants, including 120 financially investing organizations, this partnership works towards global competitiveness and inclusive economic growth. The strategy focuses on job growth, startups and innovation, talent migration, racial inclusion, skills and workforce, regional image, affordability, transportation and mobility, and the new climate economy. This approach supports the vision of making the Minneapolis-Saint Paul region a global leader in inclusive economic growth by welcoming all, empowering talent, and igniting innovation. Greater MSP has demonstrated its ability to generate significant economic opportunities for the community, expanding its scope to ensure inclusive growth for every member. The organization's mission is to accelerate regional competitiveness and inclusive economic growth through job creation, capital investment, and the execution of strategic initiatives, while prioritizing the global sectors and talent of the region.
Official website here: www.greatermsp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%
The Minneapolis Saint Paul Regional Economic Development Partnership has received an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting its high level of accountability and financial health. With a strong score of 97%, the organization demonstrates excellent governance practices, including a fully independent board and comprehensive financial oversight, ensuring that resources are managed effectively.
Strengths of the organization include its high program expense ratio of 78.05%, indicating that a significant portion of its budget is directed towards program services rather than administrative costs. Additionally, the lack of material diversion of assets and the adherence to various governance policies, such as conflict of interest and whistleblower protections, further support its reputation for transparency and integrity.
However, one area of concern is the fundraising efficiency ratio, which scored $0.01, suggesting that fundraising efforts may not be yielding the desired financial returns. This could indicate potential challenges in securing resources for future initiatives. Despite this limitation, the overall assessment shows that the partnership is well-managed and committed to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Minneapolis Saint Paul Regional Economic Development Partnership legitimate?
Minneapolis Saint Paul Regional Economic Development Partnership is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minneapolis Saint Paul Regional Economic Development Partnership submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,206,398
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,229,490
For more financial information, click here
Official website here: www.greatermsp.org
What is the mission statement of Minneapolis Saint Paul Regional Economic Development Partnership?
The Minneapolis Saint Paul Regional Economic Development Partnership's mission is to accelerate regional competitiveness and inclusive economic growth. This is achieved through job creation, capital investment, and the execution of strategic initiatives. The partnership works to strengthen global sectors, prioritize talent, and promote the region. It brings together leaders and organizations from various sectors to build the economy for the benefit of the region's residents. The partnership, which involves over 4,500 individuals and 350 leading companies, foundations, universities, and cities, executes a shared regional economic development strategy focused on areas such as job growth, talent migration, racial inclusion, and more. The goal is to lead the world in inclusive economic growth by welcoming all, empowering talent, and igniting innovation.
Official website here: www.greatermsp.org
Who is the CEO of Minneapolis Saint Paul Regional Economic Development Partnership?
Peter Frosch is the President & Ceo of Minneapolis Saint Paul Regional Economic Development Partnership. The CEO's salary of Minneapolis Saint Paul Regional Economic Development Partnership is $429,801 and their total compensation is $446,919.
Official website here: www.greatermsp.org
What is the revenue of Minneapolis Saint Paul Regional Economic Development Partnership?
Minneapolis Saint Paul Regional Economic Development Partnership's revenue in 2022 was $6,796,435.
Official website here: www.greatermsp.org
Who are the executives of Minneapolis Saint Paul Regional Economic Development Partnership and what are their salaries?
The average compensation at Minneapolis Saint Paul Regional Economic Development Partnership during 2022 was $127,255. There are 27 employees and 550 volunteers at Minneapolis Saint Paul Regional Economic Development Partnership.
Here are 53 key members and their salaries (Minneapolis Saint Paul Regional Economic Development Partnership's CEO's salary is $429,801 and their total compensation is $446,919):
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- Compensation: $122,085
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- Other: $5,416
Official website here: www.greatermsp.org
Where can I find the form 990 for Minneapolis Saint Paul Regional Economic Development Partnership?
Minneapolis Saint Paul Regional Economic Development Partnership's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greatermsp.org
Learn more at the official website: www.greatermsp.org
Mission Statement of Minneapolis Saint Paul Regional Economic Development Partnership
The Minneapolis Saint Paul Regional Economic Development Partnership, a collaborative organization, is dedicated to boosting regional competitiveness and fostering inclusive economic growth. By focusing on job creation, capital investment, and the execution of strategic initiatives, this partnership aims to strengthen the region's global sectors and prioritize talent. Additionally, they strive to tell a compelling narrative about their region. The partnership involves numerous individuals and organizations from various sectors, including leading companies, cities, counties, foundations, universities, and more, all working together to promote global competitiveness and inclusive economic growth in Minneapolis Saint Paul. This cross-sector collaboration touches every corner of the 15-county Minneapolis-Saint Paul metro area. The partnership's strategy focuses on key areas such as job growth, startups and innovation, talent migration, racial inclusion, skills and workforce development, regional image, affordability, transportation and mobility, and the new climate economy. Their ultimate goal is to establish Minneapolis-Saint Paul as a global leader in inclusive economic growth, welcoming all, empowering talent, and igniting innovation. The partnership has shown a proven ability to generate significant economic opportunities for the region's residents, and their emphasis on inclusive growth has expanded their scope, capacity, and breadth of participants.
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Impact
October, 2024
The Minneapolis Saint Paul Regional Economic Development Partnership significantly impacts the local economy by fostering inclusive growth and enhancing regional competitiveness. Its collaborative approach involves over 4,500 individuals from more than 350 diverse organizations, including businesses, cities, counties, foundations, and universities. This collaboration allows for a comprehensive strategy aimed at creating quality jobs, supporting startups and innovation, and prioritizing talent acquisition across the 15-county metro area.
The Partnership recognizes two critical challenges facing the region: advancing racial equity and accelerating the growth of quality job opportunities. By addressing these challenges as interdependent, it is committed to incorporating equity as a fundamental component of its growth strategies. The collective efforts of participating organizations have led to significant capital investments, robust job growth, and an overall enhancement of Minneapolis Saint Paul’s image as an attractive place to work and live.
The focus on strategic initiatives underscores a commitment to not only economic prosperity but also to improving accessibility to economic opportunities for all residents. By promoting accountability, alignment, inclusion, innovation, and transparency, the Partnership is well-positioned to lead the region towards a future marked by sustainable economic growth and innovation. Through these efforts, it helps ensure that every community member can access good jobs, contributing to a vibrant and resilient regional economy.
This information is meant to be a general summary of Minneapolis Saint Paul Regional Economic Development Partnership. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,230
- Gross Receipts: $6,796,435
Assets and Liabilities:
- Total Assets: $5,387,494
- Total Liabilities: $1,000,340
- Net Assets: $4,387,154
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Organization Details
Founding Year
2010
Phone
(651) 287-1365Principal Officer
Peter Frosch
Main Address
400 ROBERT ST NORTH 1600, SAINT PAUL, MN, 55101
Website
www.greatermsp.orgNTEE Category
Code: S30 - Community improvement
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