Nonprofit · EIN 41-1498214
WELSTORES OF MINNESOTA INC
Tax-exempt · BUFFALO, MN 55313
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $405,090 | $412,763 | -$7,673 | $325,762 | $3,054 | $322,708 |
| December 31, 2023 | 990 | $402,186 | $410,702 | -$8,516 | $345,952 | $15,571 | $330,381 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $405,017
- Program service revenue
- $0
- Investment income
- $73
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $149,286
- Other salaries and wages
- $157,453
- Salaries, compensation and benefits (total)
- $169,498
- Professional fundraising fees
- $0
- Accounting fees
- $4,956
- Occupancy
- $18,450
- Depreciation
- $20,399
- Program services (functional)
- $363,742
- Management and general (functional)
- $49,021
Balance sheet and other
- Total assets, start of year
- $345,952
- Total assets, end of year
- $325,762
- Total liabilities, end of year
- $3,054
- Net assets, end of year
- $322,708
- Land, buildings and equipment
- $251,478
- Net assets without donor restrictions
- $322,708
- Gross receipts
- $405,090
- Employees
- 8
- Volunteers
- 186
- Year formed
- 1984
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BARB BELTRAND | SECRETARY Trustee or director, Officer | 2 | $0 |
| RANDY HEBB | DIRECTOR Trustee or director | 1 | $0 |
| MARK KAESMEYER | DIRECTOR Trustee or director | 1 | $0 |
| BETSY LIBERATO | DIRECTOR Trustee or director | 1 | $0 |
| SHARYN MANTEL | DIRECTOR Trustee or director | 1 | $0 |
| MORRIS RAU | DIRECTOR Trustee or director | 1 | $0 |
| DAN SMITH | DIRECTOR Trustee or director | 1 | $0 |
| GINA THOMFORDE | TREASURER Trustee or director, Officer | 1 | $0 |
| MIKE TRIPP | PRESIDENT Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUSIE GUIMONT | DIRECTOR Trustee or director | 1 | $0 |
| JOANN HINNANTHAL | SECRETARY Trustee or director, Officer | 2 | $0 |
| MARK KAESMEYER | DIRECTOR Trustee or director | 1 | $0 |
| BETSY LIBERATO | DIRECTOR Trustee or director | 1 | $0 |
| SHARYN MANTEL | DIRECTOR Trustee or director | 1 | $0 |
| DAN SMITH | DIRECTOR Trustee or director | 1 | $0 |
| GINA THOMFORDE | TREASURER Trustee or director, Officer | 2 | $0 |
| MIKE TRIPP | PRESIDENT Trustee or director, Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 310 BRIGHTON AVE S, BUFFALO, MN 55313-2303
- Principal officer (990 for 2024)
- MIKE TRIPP
- Signed the 990
- GINA THOMFORDE, TREASURER
- Phone
- (763) 682-4178
- Website
- HTTP://WWW.THEWISEPENNY.COM
- Return prepared by
- JEANNE M MATTER CPA LTD
Mission
TO SUPPORT OTHER TAX EXEMPT ORGANIZATIONS BY RAISING FUNDS THROUGH A THRIFT STORE.
Program accomplishments
- THE ORGANIZATION RAISES FUNDS THROUGH THE OPERATION OF A THRIFT STORE WHICH SELLS DONATED GOODS. THE THRIFT STORE ACTIVITIES ARE CONDUCTED THROUGH THE USE OF VOLUNTEER SERVICES. THE RECEIPTS OF THE SALES OF DONATED ITEMS SUPPORTS OTHER NONPROFIT ORGANIZATIONS IN THE COMMUNITY.Expenses $360,029 · grants $149,286
- THE ORGANIZATION RAISES FUNDS THROUGH THE OPERATION OF A THRIFT STORE WHICH SELLS DONATED GOODS. THE THRIFT STORE ACTIVITIES ARE CONDUCTED THROUGH THE USE OF VOLUNTEER SERVICES. THE RECEIPTS OF THE SALES OF DONATED ITEMS SUPPORTS OTHER NONPROFIT ORGANIZATIONS IN THE COMMUNITY.Expenses $3,713
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1498214
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99Z)
- Assets (IRS master file)
- $325,762
- Income (IRS master file)
- $405,090
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $405,090 | $412,763 | $325,762 | XML |
| 990 | December 2023 | $402,186 | $410,702 | $345,952 | XML |
| 990 | December 2022 | $416,249 | $436,519 | $342,070 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1498214).
Questions about WELSTORES OF MINNESOTA INC
- What is the EIN of WELSTORES OF MINNESOTA INC?
- The employer identification number (EIN) of WELSTORES OF MINNESOTA INC is 41-1498214.
- Is WELSTORES OF MINNESOTA INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to WELSTORES OF MINNESOTA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WELSTORES OF MINNESOTA INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WELSTORES OF MINNESOTA INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WELSTORES OF MINNESOTA INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WELSTORES OF MINNESOTA INC?
- The 990 for the year ended December 31, 2024 names MIKE TRIPP.
- Who are the officers and directors of WELSTORES OF MINNESOTA INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does WELSTORES OF MINNESOTA INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $405,090, expenses of $412,763 and total assets of $325,762 at year end.
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