2021-10-07T08:22:06-05:00 2021-06-30 463220328 AKINS HENKE AND COMPANY 600 INWOOD AVENUE NORTH SUITE 160 OAKDALE MN 55128 990 2020-07-01 263292945 ECONOMIC CLUB OF MINNESOTA ECON 6123869128 4830 ITHACA LANE NORTH PLYMOUTH MN 55446 KATE RESCHENBERG EXECUTIVE DIRECTOR 6123869128 2021-10-01 true KATE RESCHENBERG 999009999 GEORGIA AKINS P00950359 6516363806 2021-10-01 2020 2022-09-23 18:48:47Z KATE RESCHENBERG 4830 ITHACA LANE NORTH PLYMOUTH MN 55446 434751 false X WWW.ECOMN.ORG X 2008 MN THE ECONOMIC CLUB OF MINNESOTA (ECOM) PROVIDES A HIGH-PROFILE, NON-PARTISAN PLATFORM FOR NATIONAL AND INTERNATIONAL LEADERS IN BUSINESS, GOVERNMENT AND PUBLIC POLICY TO PRESENT THEIR IDEAS ON HOW MINNESOTA CAN BETTER COMPETE IN THE GLOBAL ECONOMY AND HOW AMERICA CAN MOST EFFECTIVELY PROVIDE WORLD LEADERSHIP ON ECONOMIC AND STRATEGIC ISSUES. 11 11 2 12 0 341658 273145 209635 161565 28 41 277 0 551598 434751 0 0 218619 200741 0 31933 201212 150911 419831 351652 131767 83099 642859 730952 12491 17485 630368 713467 X THE ECONOMIC CLUB OF MINNESOTA (ECOM) PROVIDES A HIGH-PROFILE, NON-PARTISAN PLATFORM FOR NATIONAL AND INTERNATIONAL LEADERS IN BUSINESS, GOVERNMENT AND PUBLIC POLICY TO PRESENT THEIR IDEAS ON HOW MINNESOTA CAN BETTER COMPETE IN THE GLOBAL ECONOMY AND HOW AMERICA CAN MOST EFFECTIVELY PROVIDE WORLD LEADERSHIP ON ECONOMIC AND STRATEGIC ISSUES. false false 235358 161565 THE ECONOMIC CLUB OF MINNESOTA PROVIDES PUBLIC EDUCATION ON ISSUES THAT AFFECT OUR ABILITY TO COMPETE IN THE GLOBAL ECONOMY. DURING OUR 2020-2021 SEASON (FY21) WE PROVIDED 8 VIRTUAL LUNCHEON EVENTS WITH SPEAKERS OR PANELISTS. THE COSTS AND REVENUE PER EVENT VARIES BUT AVERAGED 6,500 PER EVENT FOR COST AND 300 FOR EVENT TICKET REVENUE. SPONSORSHIPS MAKE UP THE LARGER PORTION OF FUNDING TO SUPPORT THE EVENTS. ALL OF OUR EVENTS WERE LIVE-STREAMED DUE TO COVID-19. THE COSTS FOR SUPPORTING THAT EVENT WERE APPROXIMATELY 500. WE PROVIDED 2 VIRTUAL YOUNG PROFESSIONAL CLUB EVENTS. TICKETS WERE 5 FOR NON-MEMBERS OR SPONSORS. COSTS RANGED FROM 100 - 150. WE ALSO PROVIDED ADDITIONAL CONTENT VIA PODCASTS. NO GRANTS WERE MADE. 235358 true true false false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 4 0 true 2 true false false false false false true true false false false false false false X 11 11 false false false false false false false true true false false true true true true true true true false false MN X KATE RESCHENBERG 6123869128 4830 ITHACA LANE NORTH PLYMOUTH MN 55446 STEVE SANGER CHAIRMAN 2.00 X X 0 0 0 TIMOTHY PENNY VICE CHAIR 1.00 X X 0 0 0 DAVID FRAUENSHUH TREASURER 1.00 X X 0 0 0 JEANNINE RIVET SECRETARY 1.00 X X 0 0 0 DR CHRISTINE CUMMING DIRECTOR 1.00 X 0 0 0 ELLIOT JAFFEE DIRECTOR 1.00 X 0 0 0 NEEL KASHKARI DIRECTOR 1.00 X 0 0 0 MARTHA MACMILLAN DIRECTOR 1.00 X 0 0 0 ERIK PAULSEN DIRECTOR 1.00 X 0 0 0 KATE KELLY DIRECTOR 1.00 X 0 0 0 BEN OMOROGBE DIRECTOR 1.00 X 0 0 0 KATE RESCHENBERG EXECUTIVE DI 40.00 X 107500 0 12623 107500 12623 1 false false false 273145 273145 MEMBER DUES 611430 154210 154210 EVENT REVENUE 611430 7355 7355 161565 41 41 434751 161565 41 126016 79033 26354 20629 57500 17458 31997 8045 1725 524 960 241 2542 407 1947 188 12958 6687 4255 2016 11712 11712 19724 18764 960 2732 1167 1320 245 951 401 550 3121 1611 1025 485 EVENTS EXPENSE 109426 109306 36 84 FEES AND MISCELLANEOUS 3245 3245 351652 235358 84361 31933 137293 230826 495609 495717 2500 207 7457 4202 642859 730952 12491 17485 12491 17485 X 626548 702827 3820 10640 630368 713467 642859 730952 83099 X false true X true false X 221350 296723 309654 341658 273145 1442530 221350 296723 309654 341658 273145 1442530 131958 1310572 195 197 355 28 41 816 5000 2525 277 7802 1451148 1094636 0.90310 0.89940 X PART II, LINE 10 OTHER INCOME 7,802 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 454751 20000 20000 434751 434751 371652 20000 20000 351652 351652 SCHEDULE D, PAGE 3, PART X ECOM HAS TAX EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CORRESPONDING STATE TAX CODES. THE ORGANIZATION IS NOT A PRIVATE FOUNDATION AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. FORM 990 - ORGANIZATION'S MISSION THE ECONOMIC CLUB OF MINNESOTA (ECOM) PROVIDES A HIGH-PROFILE, NON-PARTISAN PLATFORM FOR NATIONAL AND INTERNATIONAL LEADERS IN BUSINESS, GOVERNMENT AND PUBLIC POLICY TO PRESENT THEIR IDEAS ON HOW MINNESOTA CAN BETTER COMPETE IN THE GLOBAL ECONOMY AND HOW AMERICA CAN MOST EFFECTIVELY PROVIDE WORLD LEADERSHIP ON ECONOMIC AND STRATEGIC ISSUES. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS FIRST REVIEWED BY THE EXECUTIVE DIRECTOR AND THE EXECUTIVE COMMITTEE. WHEN IT IS IN FINAL FORM, IT IS SENT TO THE ENTIRE BOARD FOR REVIEW AND APPROVAL BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICTS OF INTEREST ARE DISCUSSED AT EVERY BOARD MEETING. THE NOMINATING COMMITTEE DISCUSSES THE CONFLICT OF INTEREST WITH ANY NEW OR POTENTIAL BOARD MEMBERS BEFORE THE INDIVIDUAL IS INVITED TO JOIN THE BOARD. NEWLY APPOINTED BOARD MEMBERS MUST AGREE TO THE CONFLICT OF INTEREST POLICY. AT THE ANNUAL STAFF REVIEWS, COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. AT THE ANNUAL STAFF REVIEWS, COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR ANALYZES DATA FROM THE MINNESOTA COUNCIL ON NON-PROFITS "NON-PROFIT ECONOMY REPORT," WHICH SHOWS WAGES AND BENEFITS IN VARIOUS SECTORS OF MINNESOTAS NON-PROFIT COMMUNITY. IN ADDITION, SHE ALSO ANALYZES DATA AVAILABLE FROM THE BUREAU OF LABOR STATISTICS MIDWEST OFFICE ON NON-PROFIT PAY & BENEFITS, AS WELL AS INFORMATION FOUND ON SUCH OTHER WAGE AND BENEFITS SITES SUCH AS PAYSCALE.COM AND SALARY.COM. THIS INFORMATION IS GIVEN TO THE BOARD WITH A RECOMMENDATION AND THE BOARD DISCUSSES AND MAKES A DECISION ON SALARY AND BENEFITS ANNUALLY AT ITS JUNE MEETING. THE EXECUTIVE DIRECTOR AND OTHER STAFF ARE NOT PRESENT DURING THESE DISCUSSIONS AND THE DISCUSSIONS ARE RECORDED IN THE MINUTES OF THE MEETING. FORM 990, PAGE 6, PART VI, LINE 19 ECONOMIC CLUB OF MINNESOTA MAKES THE FORM 990, GOVERNING DOCUMENTS CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.