2016-11-07T14:42:09-06:00 2016-06-30 463220328 AKINS HENKE AND COMPANY 600 INWOOD AVENUE NORTH SUITE 160 OAKDALE MN 55128 990 2015-07-01 263292945 ECONOMIC CLUB OF MINNESOTA ECON 6124326790 7730 ZANZIBAR LANE NORTH MINNEAPOLIS MN 55311 KRISTIN ROBBINS EXECUTIVE DIRECTOR 6124326790 2016-11-04 1 GEORGIA AKINS P00950359 6516363806 2015 2017-02-10 21:41:12Z KRISTIN ROBBINS 7730 ZANZIBAR LANE NORTH MINNEAPOLIS MN 55311 467425 0 X WWW.ECOMN.ORG X 2008 MN ECONOMIC CLUB OF MINNESOTA PROVIDES PULIC EDUCATION ON ISSUES THAT AFFECT OUR ABILITY TO COMPETE IN THE GLOBAL ECONOMY. 9 9 4 12 0 0 207349 259555 209107 207643 271 227 0 0 416727 467425 0 0 0 0 145480 145645 0 0 11224 228820 311546 374300 457191 42427 10234 350953 355720 67630 62163 283323 293557 X THE MISSION OF ECONOMIC CLUB OF MINNESOTA IS TO EDUCATE MEMBERS, SPONSORS, AND THE PUBLIC AS TO HOW AMERICA CAN IMPROVE ITS COMPETITIVENESS IN THE GLOBAL ECONOMY AND ITS EFFECTIVENESS AS A WORLD LEADER. 0 0 369917 207643 THE ECONOMIC CLUB OF MINNESOTA PROVIDES PUBLIC EDUCATION ON ISSUES THAT AFFECT OUR ABILITY TO COMPETE IN THE GLOBAL ECONOMY. WE HELD 8 PUBLIC LUNCHEONS THIS SEASON WITH AN ARRAY OF TOP-TIER NATIONAL AND INTERNATIONAL LEADERS. IN FISCAL YEAR 2016, ATTENDANCE AT EVENTS RANGED FROM 325-425 PER EVENT. IN ADDITION, AS OUR SPEAKER'S SCHEDULES PERMIT, WE ALSO LIKE TO HOST ADDITIONAL MEETINGS WITH STUDENTS, TOP BUSINESS LEADERS, THE LOCAL PRESS, AND TOURS OF AREA COMPANIES TO HELP THEM BETTER UNDERSTAND THE VITALITY OF MINNESOTA'S ECONOMY. WE OCCASIONALLY WRITE OPINION PIECES ON TOPICS IMPACTING THE GLOBAL ECONOMY.THIS WAS THE SECOND YEAR OF OUR YOUNG PROFESSIONALS CLUB (YPC) AND WE HOSTED TWO EVENTS FOR EMERGING BUSINESS LEADERS UNDER AGE 40. THE FIRST EVENT FEATURED ENTREPRENEUR AMY LANGER, THE CEO OF SALO, LLC, WHO DISCUSSED RISK-TAKING AND THE IMPORTANCE OF NETWORKING. THE SECOND EVENT FEATURED FORMER CONGRESSMAN TIM PENNY, WHO SPOKE ABOUT THE IMPACT OF THE NATIONAL DEBT ON MILLENNIALS AND TOOK THEIR MANY QUESTIONS ON THE TOPIC.WE CONTINUED TO INCREASE OUR SOCIAL MEDIA PRESENCE AND LOCAL MEDIA COVERAGE OF OUR EVENTS. THIS HIGHLIGHTS THE ECONOMIC ISSUES RAISED BY OUR SPEAKERS AND EXPANDS AWARENESS OF THESE IMPORTANT TOPICS, INCLUDING MONETARY POLICY, TRANSPORTATION, TRADE, AND FOOD SECURITY.THIS YEAR WE ADDED TWO NEW EVENTS. WE LAUNCHED OUR "CEO RECEPTION IN D.C.,"WHICH GIVES A MINNESOTA CEO THE OPPORTUNITY TO SPEAK TO A GROUP OF MINNESOTANS WHO WORK IN VARIOUS GOVERNMENTAL AND NON-GOVERNMENTAL AGENCIES IN WASHINGTON, D.C.. THIS EVENT ENCOURAGES NETWORKING AMONG MINNESOTANS WHO WORK IN VARIOUS ROLES IN OUR NATION'S CAPITOL AND GIVES A BUSINESS LEADER FROM MINNESOTA THE OPPORTUNITY TO EXPLAIN HOW VARIOUS POLICIES BEING CONSIDERED IN D.C. AFFECT (OR COULD AFFECT) THE ECONOMY IN MINNESOTA. WE ALSO ADDED A HALF-DAY CONFERENCE ON GLOBAL FOOD SECURITY CALLED OUR "FOOD SECURITY SUMMIT." MINNESOTA HAS A COMPARATIVE ADVANTAGE IN FOOD PRODUCTION, DISTRIBUTION AND RESEARCH IN AGRICULTURE AND FOOD SCIENCE, WHICH WE HIGHLIGHTED THROUGH A HALF-DAY CONFERENCE FEATURING TWO PANELS OF MINNESOTA CEOS. THE DISCUSSIONS WERE MODERATED BY A JOURNALIST FROM NEW YORK WHO HAS EXPERTISE IN THIS AREA. THE EVENT WAS VERY WELL-RECEIVED AND WE MAY DO SIMILAR EVENTS IN FUTURE YEARS. 369917 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 4 1 0 0 0 0 0 1 1 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X KRISTIN ROBBINS 6124326790 7730 ZANZIBAR LANE NORTH MINNEAPOLIS MN 55311 MARK KENNEDY CHAIRMAN 10.00 X X 0 0 0 TIM PENNY DIRECTOR-CO FOUNDER 2.00 X 0 0 0 DAVE FRAUENSHUH TREASURER 5.00 X X 0 0 0 STEVE SANGER PRESIDENT 2.00 X X 0 0 0 ELLIOT JAFFEE DIRECTOR 2.00 X 0 0 0 MARTHA MACMILLAN DIRECTOR 2.00 X 0 0 0 DR CHRISTINE CUMMING DIRECTOR 2.00 X 0 0 0 MARK OLSON DIRECTOR 2.00 X 0 0 0 NEEL KASHKARI DIRECTOR 2.00 X 0 0 0 KRISTIN ROBBINS EXECUTIVE DIRECTOR 40.00 X 65000 0 3900 65000 0 3900 0 0 0 0 0 259555 259555 MEMBER DUES 900099 177600 177600 EVENT REVENUE 900099 30043 30043 207643 227 227 467425 207643 0 227 67980 49625 15603 2752 66720 36510 25084 5126 656 350 152 154 10289 6566 3118 605 11730 11730 17346 14864 2315 167 7468 1422 5682 364 1039 553 452 34 8500 5424 2577 499 9148 8852 250 46 2939 1875 891 173 EVENTS EXPENSE 248323 243846 3173 1304 FEES AND MISCELLANEOUS 5053 30 5023 0 457191 369917 76050 11224 129559 59648 188357 268584 1375 0 29076 26106 2586 1382 350953 355720 27150 39233 40480 22930 67630 62163 X 252828 268087 30495 25470 283323 293557 350953 355720 10234 0 X 0 1 X 1 0 X 140580 160508 200169 207349 259555 968161 140580 160508 200169 207349 259555 968161 107616 860545 674 640 332 271 227 2144 970305 1119336 0.88690 0.86310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 500290 32865 32865 467425 0 467425 490056 32865 32865 457191 0 457191 PART X, LINE 2: 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, PART VI, SECTION B, LINE 11 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, PART VI, SECTION B, 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 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 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 MINNESOTA'S 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, PART VI, SECTION C, 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.