Minneapolis Police Relief Association in Minneapolis, Minnesota (MN)

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Minneapolis Police Relief Association
Employer Identification Number (EIN)410415409
Name of OrganizationMinneapolis Police Relief Association
In Care of NameRenee Tessier
Address10 2nd St Ne Ste 103, Minneapolis, MN 55413-2236
ActivitiesPension or retirement benefits
SubsectionLocal Association of Employees
Ruling Date04/1942
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$304,590,742
Amount of Income$217,283,756
Form 990 Revenue Amount$20,952,663
National Taxonomy of Exempt Entities (NTEE)Crime, Legal-Related:


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Amount of income in 2010: $217,283,756
This organization: 

 $217,283,756
Other organizations performing similar types of work: 

 $217,283,756

Assets in 2010: $304,590,742
This organization: 

 $304,590,742
Other organizations performing similar types of work: 

 $304,590,742

Expenses in 2007: $37,509,048
Minneapolis Police Relief Association: 

 $37,509,048
Other organizations performing similar types of work: 

 $37,509,048

Income to expenses ratio in 2007: 0.7
This organization: 

 0.7
Other organizations performing similar types of work: 

 0.7

Expenses allocated to program services in 2007: 97.0%
Minneapolis Police Relief Association: 

 97.0%
Other organizations performing similar types of work: 

 97.0%

Number of employees in 2007: 2
Minneapolis Police Relief Association: 

 2
Other organizations performing similar types of work: 

 2

Employees paid over $50,000 in 2007: 50.0%
Minneapolis Police Relief Association: 

 50.0%
Other organizations performing similar types of work: 

 50.0%

Grants share in income in 2007: 26.5%
This organization: 

 26.5%
Other organizations performing similar types of work: 

 26.5%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$-4,543,340$10,807,738$14,033,425$26,028,753$44,946,164$51,176,747$38,983,748$27,445,109
Contributions, gifts, grants, and similar amounts received$0$4,028,027$8,557,301$19,725,179$28,151,720$31,815,433$10,771,488$7,275,996
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$4,028,027$8,557,301$19,725,179$28,151,720$31,815,433$10,771,488$7,275,996
Program service revenue including government fees and contracts$4,563,134$0$0$0$0$0$0$0
Membership dues and assessments$166,325$641,777$436,315$301,143$211,589$186,875$176,982$167,883
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$7,266,897$7,989,912$6,059,883$4,905,656$5,893,350$8,124,782$10,181,662$11,611,910
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-17,039,696$-1,851,978$-1,020,074$1,096,776$10,689,505$11,049,657$17,853,616$8,389,320
Gross amount from sales of assets other than inventory$0$308,984,165$233,935,143$242,950,914$414,918,057$384,617,988$250,146,739$109,852,514
Less: cost or other basis and sales expenses$17,039,696$310,836,143$234,955,217$241,854,138$404,228,552$373,568,331$232,293,123$101,463,194
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$500,000$0$0$0$0$0$0$0
Total expenses$31,939,327$33,577,547$33,534,811$34,021,442$35,115,876$35,515,018$35,648,698$37,509,048
Program services$30,697,541$31,144,761$31,441,248$32,493,358$33,384,765$34,211,553$34,465,294$36,368,781
Management and general$1,241,786$2,432,786$2,093,563$1,528,084$1,731,111$1,303,465$1,183,404$1,138,114
Fundraising$0$0$0$0$0$0$0$2,153
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$376,849,745$332,796,775$277,585,989$323,968,714$349,443,895$366,953,003$391,402,620$389,634,685
Excess or (deficit) for the year$-36,482,668$-22,769,809$-19,501,386$-7,992,689$9,830,288$15,661,729$3,335,050$-10,063,939
Net assets or fund balances at beginning of year$413,332,413$377,219,747$332,796,775$277,585,989$323,968,714$349,443,895$366,953,003$391,402,620
Other changes in net assets or fund balances$0$-21,653,163$-35,709,400$54,375,414$15,644,893$1,847,379$21,114,567$8,296,004
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$37,509,048$36,368,781$1,138,114$2,153
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$36,368,781
Compensation of current officers, directors, key employees, etc.$113,645$0$112,645$1,000
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$28,290$0$27,290$1,000
Pension plan contributions not included above$9,358$0$9,358$0
Employee benefits not included above$7,176$0$7,176$0
Payroll taxes$10,858$0$10,705$153
Professional fundraising fees$0$0$0$0
Accounting fees$8,955$0$8,955$0
Legal fees$138,521$0$138,521$0
Supplies$2,102$0$2,102$0
Telephone$6,301$0$6,301$0
Postage and shipping$7,060$0$7,060$0
Occupancy$44,842$0$44,842$0
Equipment rental and maintenance$5,921$0$5,921$0
Printing and publications$5,410$0$5,410$0
Travel$8,068$0$8,068$0
Conferences, conventions, and meetings$32,391$0$32,391$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$711,369$0$711,369$0
Balance Sheets
20002001200220032004200520062007
Total assets$446,540,828$390,465,599$340,061,393$398,231,366$381,747,158$393,152,392$405,577,447$397,015,861
Cash - non-interest-bearing$10,037$104,883$90,586$70,282$85,958$50,558$94,313$11,567
Savings and temporary cash investments$0$0$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$930,172$919,271$821,817$3,563,285$3,776,128$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$521,408$86,308$344,203$283,116$221,286$162,053$75,147
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$15,675$10,159
Investments - publicly-traded securities$391,253,033$390,626,607
Investments - other securities$379,315,373$338,297,108$338,965,228$396,995,064$377,814,799$367,023,101$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$2,597,586$1,506,515
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$67,215,418$50,612,028$0$0$0$22,081,319$11,454,787$4,785,866
Total liabilities$69,691,082$57,668,824$62,475,404$74,262,652$32,303,263$26,199,389$14,174,827$7,381,176
Accounts payable and accrued expenses$259,982$7,056,796$3,723,279$7,193,092$7,628,460$4,118,070$152,906$125,116
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$69,431,101$50,612,028$58,752,125$67,069,560$24,674,803$22,081,319$14,021,921$7,256,060
Total liabilities and net assets/fund balances$446,540,828$390,465,599$340,061,393$398,231,366$381,747,158$393,152,392$405,577,447$397,015,861
Total net assets or fund balances$376,849,745$332,796,775$277,585,989$323,968,714$349,443,895$366,953,003$391,402,620$389,634,685
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$-4,543,340$10,807,738$14,033,425$26,028,753$44,946,164$51,176,747$38,983,748$27,445,109
Total revenue, gains, and other support per audited financial statements$-4,543,340$-12,802,052$-24,032,052$78,833,861$59,081,389$51,956,698$59,249,450$34,850,071
Other expenses$0$-21,629,361$-36,441,737$54,136,956$15,342,430$1,703,679$21,147,295$8,350,355
Net unrealized gains on investments$0$-21,629,361$-36,441,737$54,136,956$15,342,430$1,703,679$21,147,295$8,350,355
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$1,980,429$1,623,740$1,331,848$1,207,205$923,728$881,593$945,393
Investment expenses$0$1,287,191$1,150,027$932,425$922,855$645,621$504,973$555,491
Other$0$693,238$473,713$399,423$284,350$278,107$376,620$389,902
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$31,939,327$33,577,547$33,534,811$34,021,442$35,115,876$35,515,018$35,648,698$37,509,048
Total expenses and losses per audited financial statements$31,939,327$31,620,920$31,660,767$32,466,637$33,607,267$34,438,608$34,803,636$36,611,320
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$1,956,627$1,874,044$1,554,805$1,508,609$1,076,410$845,062$897,728
Investment expenses$0$1,287,191$1,150,027$932,425$922,855$645,621$504,973$555,491
Other$0$669,436$724,017$622,380$585,754$430,789$340,089$342,237
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
2$3,233$0$450
8$5,633$0$500
2$3,233$0$700
2$3,233$0$450
2$3,164$0$150
40$88,683$13,635$0
2$3,233$0$550
2$3,233$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings9
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?Yes
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20062
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$20,169,113
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$167,883
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$11,611,910
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$8,389,320
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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