Nonprofit · EIN 85-4329890
FINNOVATION INSTITUTE
Tax-exempt · ROSEVILLE, MN 55113
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,348 | $568,634 | -$563,286 | $78,243 | $11,001 | $67,242 |
| December 31, 2023 | 990 | $21,033 | $840,330 | -$819,297 | $637,028 | $6,500 | $630,528 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $4,847
- Other revenue
- $501
Expenses
- Grants and similar amounts paid
- $267,437
- Compensation of officers, directors and key employees
- $40,000
- Salaries, compensation and benefits (total)
- $40,000
- Professional fundraising fees
- $0
- Accounting fees
- $776
- Program services (functional)
- $553,946
- Management and general (functional)
- $11,516
- Fundraising (functional)
- $3,172
Balance sheet and other
- Total assets, start of year
- $637,028
- Total assets, end of year
- $78,243
- Total liabilities, end of year
- $11,001
- Net assets, end of year
- $67,242
- Net assets without donor restrictions
- $67,242
- Gross receipts
- $5,348
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2020
- 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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CONNIE RUTLEDGE | CEO Officer | 35 | $40,000 | $48,565 | $1,350 |
| JACQUELINE BERGLUND | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| RENAY DOSSMAN | BOARD MEMEBE Trustee or director | 1 | $0 | $0 | $0 |
| KARI NIEDFELDT-THOMAS | TREASURER Trustee or director, Officer | 2 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| CONNIE RUTLEDGE | CEO Officer | 40 | $0 | $92,000 |
| JACQUELINE BERGLUND | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RENAY DOSSMAN | BOARD MEMEBE Trustee or director | 2 | $0 | $0 |
| KARI NIEDFELDT-THOMAS | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 13616, ROSEVILLE, MN 55113-0616
- In care of
- % CONNIE RUTLEDGE
- Principal officer (990 for 2024)
- CONNIE RUTLEDGE, PO BOX 13616, ROSEVILLE, MN 55113
- Signed the 990
- JACQUELINE BERGLUND, BOARD CHAIR
- Phone
- (612) 232-1994
- Website
- WWW.FINNOVATIONINSTITUTE.ORG
- Return prepared by
- HARRINGTON LANGER & ASSOCIATES
Mission
TO PROVIDE EDUCATIONAL PROGRAMS AND TANGIBLE SUPPORT TO IMPACT-DRIVEN ENTREPRENEURS AND BUILD A VIBRANT AND INCLUSIVE COMMUNITY OF SUCCESSFUL SOCIAL BUSINESSES IN THE TWIN CITIES REGION, GENERATING MEANINGFUL SOCIAL AND ECONOMIC IMPACT IN OUR REGION AND BEYOND.
Program accomplishments
- NINE EARLY-STAGE SOCIAL ENTREPRENEURS COMPLETED A NINE-MONTH PROGRAM IN JUNE 2024. CURRICULUM, MENTORSHIP, COACHING AND WORKSPACE WERE PROVIDED THROUGHOUT THE YEAR TO THE COHORT. IN ADDITION, 18 ALUMNI OF THE PROGRAM PARTICIPATED IN LEADERSHIP ROUNDTABLES THROUGHOUT THE YEAR.Expenses $553,946 · grants $267,437
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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
- 85-4329890
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Education (B90)
- Assets (IRS master file)
- $78,243
- Income (IRS master file)
- $5,348
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,348 | $568,634 | $78,243 | IRS |
| 990 | December 2023 | $21,033 | $840,330 | $637,028 | XML |
| 990 | December 2022 | $9,097 | $788,074 | $1,451,826 | IRS |
| 990 | December 2021 | – | – | – | 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 85-4329890).
Questions about FINNOVATION INSTITUTE
- What is the EIN of FINNOVATION INSTITUTE?
- The employer identification number (EIN) of FINNOVATION INSTITUTE is 85-4329890.
- Is FINNOVATION INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to FINNOVATION INSTITUTE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FINNOVATION INSTITUTE file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of FINNOVATION INSTITUTE 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 FINNOVATION INSTITUTE 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 FINNOVATION INSTITUTE?
- The 990 for the year ended December 31, 2024 names CONNIE RUTLEDGE.
- Who are the officers and directors of FINNOVATION INSTITUTE?
- The 990 for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $40,000 (CONNIE RUTLEDGE, CEO).
- How much revenue does FINNOVATION INSTITUTE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,348, expenses of $568,634 and total assets of $78,243 at year end.
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