Nonprofit · EIN 47-1051712
NORTHEAST MINNEAPOLIS TOOL LIBRARY
Tax-exempt · MINNEAPOLIS, MN 55413
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $273,877 | $229,890 | $43,987 | $258,399 | $0 | $258,399 |
| December 31, 2023 | 990 | $248,921 | $182,346 | $66,575 | $214,409 | $214,409 | $0 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $230,646
- Membership dues
- $174,518
- Program service revenue
- $42,772
- Investment income
- $459
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $93,017
- Salaries, compensation and benefits (total)
- $123,222
- Professional fundraising fees
- $0
- Occupancy
- $58,400
- Travel
- $85
- Program services (functional)
- $226,434
- Management and general (functional)
- $3,456
Balance sheet and other
- Total assets, start of year
- $214,409
- Total assets, end of year
- $258,399
- Total liabilities, end of year
- $0
- Net assets, end of year
- $258,399
- Net assets without donor restrictions
- $196,479
- Net assets with donor restrictions
- $61,920
- Gross receipts
- $273,877
- Employees
- 9
- Volunteers
- 20
- Year formed
- 2014
- 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 |
|---|---|---|---|
| Kate Hersey | Executive Director Key employee | 20 | $41,512 |
| Timothy McCormick | President Trustee or director, Officer | 5 | $0 |
| Katheryn Schneider | Boardmember Trustee or director | 5 | $0 |
| Zachary Wefel | Boardmember Trustee or director | 5 | $0 |
| Tim Nelson | Boardmember Trustee or director | 5 | $0 |
| Nathan Schneider | Boardmember Trustee or director | 5 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kate Hersey | Executive Director Key employee, Highest-paid employee | 20 | $30,087 |
| Timothy McCormick | President Trustee or director, Officer | 5 | $0 |
| Katheryn Schneider | Boardmember Trustee or director | 5 | $0 |
| Zachary Wefel | Boardmember Trustee or director | 5 | $0 |
| Tim Nelson | Boardmember Trustee or director | 5 | $0 |
| Nathan Schneider | Boardmember Trustee or director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 1620 CENTRAL AVE NE STE 126, MINNEAPOLIS, MN 55413-1677
- In care of
- % TIMOTHY MCCORMICK
- Mailing address (990-N for 2016)
- 1620 Central Avenue NE Suite 126, Minneapolis MN 55418
- Principal officer (990 for 2024)
- Timothy McCormick, 1620 Central Ave NE Suite 126, Minneapolis, MN 55418
- Principal officer (990-N for 2016)
- Zachary Wefel, 1806 Buchanan Street NE Unit 2, Minneapolis MN 55418
- Signed the 990
- Zachary Wefel, Boardmember
- Phone
- (320) 201-0227
- Website
- mntoollibrary.org
Mission
Lending tools to members and increasing self-sufficiency skills in the community.
Program accomplishments
- Lending tools to members. Served over 1000 members and lent out thousands of tools.Expenses $214,038
- Teaching members and individual community members safe tool use and project-based projects.Expenses $12,396
- Community service projects.0
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
- 47-1051712
- 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
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B70)
- Assets (IRS master file)
- $258,399
- Income (IRS master file)
- $273,877
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $273,877 | $229,890 | $258,399 | XML |
| 990 | December 2023 | $248,921 | $182,346 | $214,409 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-N for 2016 Officer: Zachary Wefel | December 31, 2016 | ≤ $50,000 receipts | – | – | e-Postcard |
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 47-1051712).
Questions about NORTHEAST MINNEAPOLIS TOOL LIBRARY
- What is the EIN of NORTHEAST MINNEAPOLIS TOOL LIBRARY?
- The employer identification number (EIN) of NORTHEAST MINNEAPOLIS TOOL LIBRARY is 47-1051712.
- Is NORTHEAST MINNEAPOLIS TOOL LIBRARY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to NORTHEAST MINNEAPOLIS TOOL LIBRARY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NORTHEAST MINNEAPOLIS TOOL LIBRARY 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 NORTHEAST MINNEAPOLIS TOOL LIBRARY 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 NORTHEAST MINNEAPOLIS TOOL LIBRARY 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 NORTHEAST MINNEAPOLIS TOOL LIBRARY?
- The 990 for the year ended December 31, 2024 names Timothy McCormick.
- Who are the officers and directors of NORTHEAST MINNEAPOLIS TOOL LIBRARY?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $41,512 (Kate Hersey, Executive Director).
- How much revenue does NORTHEAST MINNEAPOLIS TOOL LIBRARY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $273,877, expenses of $229,890 and total assets of $258,399 at year end.
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