Overview
What is Enterprise Minnesota?
Enterprise Minnesota is a nonprofit organization situated in Minneapolis, Minnesota, specifically at 2100 Summer Street NE, that specializes in supporting small and medium-sized manufacturing businesses. Their primary objective is to aid these companies in developing and implementing strategies for business growth. This is achieved through various means, such as guiding them through the lean manufacturing process and providing training on modern management strategies. Enterprise Minnesota's team of industry experts is spread across Minnesota, ready to assist clients in reaching their goals and transforming into world-class manufacturers. As an affiliate of the National MEP Network, which is part of the U.S. Department of Commerce's National Institute of Standards and Technology (NIST), Enterprise Minnesota leverages federal support to provide products and services designed to help these companies succeed. Over the past three years, they have provided critical business assistance to 482 Minnesota companies, leading to a positive economic impact of $1,011 million. Additionally, more than 5,874 jobs have been created or retained. Enterprise Minnesota offers various ways to stay updated on the latest manufacturing news in Minnesota, including an enterprise magazine, an e-trends newsletter, and the annual state of manufacturing poll, a comprehensive research project that includes hundreds of phone surveys and focus groups with manufacturing executives across the state. The organization's mission is to promote economic growth and job creation through applied research, technology transfer, and productive development.
Official website here: www.enterpriseminnesota.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
Enterprise Minnesota has achieved an impressive 96% rating, reflecting its strong commitment to accountability and financial health. The organization boasts an independent board with 100% of its members being independent, showcasing effective governance. With a high program expense ratio of 88.11%, the majority of its financial resources are allocated directly to its programs, which indicates a strong focus on mission-driven outcomes.
The charity has also excelled in transparency and compliance, as evidenced by its perfect scores in areas such as audit and oversight, material diversion of assets, and adherence to governance policies including conflict of interest and whistleblower policies. The organization's financial statements are well-managed, and it maintains a favorable liabilities to assets ratio, further solidifying its financial stability.
Despite these strengths, the summary does not highlight any specific limitations or areas for improvement. Overall, Enterprise Minnesota stands out as a highly rated nonprofit committed to its mission and responsible financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Enterprise Minnesota legitimate?
Enterprise Minnesota is a legitimate nonprofit organization registered as a 501(c)(3) entity. Enterprise Minnesota 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: $817,741
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,608,410
For more financial information, click here
Official website here: www.enterpriseminnesota.org
What is the mission statement of Enterprise Minnesota?
Enterprise Minnesota's mission is centered around promoting economic growth and job creation. They accomplish this through applied research, technology transfer, and productive development. The organization provides strategic assistance to small and medium-sized manufacturers, helping them improve their business strategies and compete effectively. With a team of industry experts located across the region, Enterprise Minnesota assists these companies in achieving their goals, aiming to transform them into world-class manufacturers. The organization is an affiliate of the National MEP Network, part of the U.S. Department of Commerce's National Institute of Standards and Technology (NIST), and has successfully leveraged federal support for over three decades. In the past three years alone, they have provided critical business assistance to 482 companies, resulting in a positive economic impact of over $1 billion and the creation or retention of more than 5,874 jobs. Besides consulting services, Enterprise Minnesota offers various resources to keep manufacturing businesses updated on the latest trends in the industry.
Official website here: www.enterpriseminnesota.org
Who is the CEO of Enterprise Minnesota?
Robert Kill is the Director of Enterprise Minnesota. The CEO's salary of Enterprise Minnesota is $235,514 and their total compensation is $261,348.
Official website here: www.enterpriseminnesota.org
What is the revenue of Enterprise Minnesota?
Enterprise Minnesota's revenue in 2022 was $6,487,386.
Official website here: www.enterpriseminnesota.org
Who are the executives of Enterprise Minnesota and what are their salaries?
The average compensation at Enterprise Minnesota during 2022 was $100,769. There are 34 employees and 8 volunteers at Enterprise Minnesota.
Here are 17 key members and their salaries (Enterprise Minnesota's CEO's salary is $235,514 and their total compensation is $261,348):
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- Compensation: $235,514
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- Other: $25,834
- Compensation: $157,107
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- Other: $19,512
- Compensation: $156,517
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- Other: $22,207
- Compensation: $146,574
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- Other: $38,672
- Compensation: $122,197
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- Other: $35,972
- Compensation: $101,890
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- Other: $36,205
- Compensation: $121,176
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- Other: $17,142
- Compensation: $119,943
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- Other: $35,465
- Compensation: $108,203
- Related: $0
- Other: $34,166
Official website here: www.enterpriseminnesota.org
Where can I find the form 990 for Enterprise Minnesota?
Enterprise Minnesota's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.enterpriseminnesota.org
Learn more at the official website: www.enterpriseminnesota.org
Mission Statement of Enterprise Minnesota
Enterprise Minnesota, an affiliate of the National MEP Network and part of the U.S. Department of Commerce's National Institute of Standards and Technology (NIST), is committed to promoting economic growth and job creation. They achieve this mission through applied research, technology transfer, and productive development. The organization serves small and mid-sized manufacturing businesses, assisting them in developing and implementing strategies to grow their businesses. Enterprise Minnesota's industry experts are located across Minnesota, providing clients with the necessary tools and guidance to become world-class manufacturers.
In practical terms, Enterprise Minnesota helps manufacturers compete and grow profitably. They offer consulting services, walking clients through the lean manufacturing process and training them on the latest management strategies. Over the past three years, Enterprise Minnesota has provided critical business assistance to 482 Minnesota companies, resulting in a positive economic impact of $1,011 million. This impact is seen in increased sales, reduced production costs, and improved employee utilization. The organization has also created or retained more than 5,874 jobs.
In addition to their consulting services, Enterprise Minnesota keeps manufacturing businesses in Minnesota informed with three resources: Enterprise Minnesota Magazine, E-Trends Newsletter, and the Annual State of Manufacturing Poll. This poll, a statewide research project, includes hundreds of phone surveys and several focus groups with manufacturing executives across the state. Enterprise Minnesota is dedicated to helping manufacturing businesses in Minnesota succeed.
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Impact
July, 2024
Enterprise Minnesota's impact is significant in promoting economic growth and job creation in Minnesota's manufacturing sector. Through applied research, technology transfer, and productive development, Enterprise Minnesota helps small and mid-sized manufacturers develop and implement strategies to grow their businesses. By providing critical business assistance to 482 Minnesota companies in just the past three years, Enterprise Minnesota has facilitated a positive economic impact of $1,011 million, resulting in increased sales, reduced production costs, and improved employee utilization. Moreover, this has led to the creation or retention of more than 5,874 jobs in the state. Through its expertise and services, Enterprise Minnesota plays a vital role in helping these manufacturers compete, thrive, and become world-class entities in their industry.
This information is meant to be a general summary of Enterprise Minnesota. 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: $72,743
- Program Service Revenue: $2,258,769
- Gross Receipts: $6,502,017
Assets and Liabilities:
- Total Assets: $3,826,977
- Total Liabilities: $1,682,870
- Net Assets: $2,144,107
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICES/PUBLICATIONS
Revenue
$2,212,173
PUBLICATIONS
Revenue
$46,596
Organization Details
Founding Year
1987
Phone
(612) 373-2900Principal Officer
Robert Kill
Main Address
2100 SUMMER STREET NE 150, MINNEAPOLIS, MN, 55413
Website
www.enterpriseminnesota.orgNTEE Category
Code: W20 - Public benefit
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