2021-11-12T17:54:16-06:00 2020-12-31 341873282 CBIZ MHM LLC 222 SOUTH 9TH STREET SUITE 1000 MINNEAPOLIS MN 55402 990 2020-05-01 850898705 NEXTSTAGE NEXT 9529212381 8400 NORMANDALE BLVD NO 920 BLOOMINGTON MN 55437 LEE HALL CEO 9529212381 2021-11-11 1 LEE HALL 999009999 BRUCE THIEL P00526510 6123397811 2021-11-11 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X LEE HALL 8400 NORMANDALE BLVD NO 920 BLOOMINGTON MN 55437 2338976 0 X WWW.NEXTSTAGEMN.ORG X 2020 MN TO SUPPORT ENTREPRENEURS AT EVERY STAGE 5 5 1 5 0 0 0 2338723 253 0 2338976 0 0 84003 0 0 299590 383593 1955383 2807999 852616 1955383 X TO PROVIDE EDUCATION AND TRAINING TO INDIVIDUALS INTERESTED IN PURSUING ENTREPRENEURSHIP; TO ASSIST ENTREPRENEURS IN THE PLANNING, DEVELOPMENT AND START-UP OF A BUSINESS VENTURE; AND TO SUPPORT AND ASSIST SMALL BUSINESS OWNERS WITH GROWTH, AND OPERATIONAL IMPROVEMENT. 0 0 359167 2338723 THE NEXTSTAGE FOR ENTREPRENEURS PROGRAM OFFERS TECHNICAL AND FINANCIAL ASSISTANCE TO ENTREPRENEURS PARTICULARLY NON-TRADITIONAL AND DISADVANTAGED ENTREPRENEURS DURING THE PRE-START PLANNING, START-UP, AND GROWTH PHASES. WE BELIEVE THAT ENTREPRENEURSHIP PRESENTS UNIQUE OPPORTUNITIES FOR INDIVIDUALS TO FIND PERSONAL SATISFACTION IN THEIR WORK, BUILD WEALTH AND EQUITY, AND TO IMPROVE THE COLLECTIVE ECONOMIC OUTLOOK OF THEIR COMMUNITIES. HOWEVER, THAT OPPORTUNITY ISN'T EQUAL. CERTAIN INDIVIDUALS INCLUDING PERSONS OF COLOR AND LOWER INCOME INDIVIDUALS FACE CONSISTENT BARRIERS TO ACCESSING TRADITIONAL CAPITAL MARKETS. NEXTSTAGE SEEKS TO ADDRESS THIS DISPARITY BY PROVIDING ACCESS TO CAPITAL AT RATES AND TERMS THAT ARE COMPETITIVE IN THE MARKETPLACE THROUGH AN UNDERWRITING PROCESS THAT STRONGLY WEIGHTS AN ENTREPRENEUR'S CREATIVITY, COMMITMENT, AND GROWTH, WITH REDUCED DEPENDENCE ON TRADITIONAL CREDIT STANDARDS OF COLLATERAL, EQUITY CONTRIBUTION AND CREDIT SCORE. NEXTSTAGE SEEKS TO PAIR ITS LENDING ACTIVITIES WITH NO-COST, DIRECT TECHNICAL ASSISTANCE TO EMERGING ENTREPRENEURS. RATHER THAN PROVIDING STRUCTURED OR CURRICULUM-BASED TRAINING, AS IS COMMON AMONG ENTREPRENEUR SUPPORT PROGRAMS, NEXTSTAGE'S TECHNICAL ASSISTANCE IS TYPICALLY OFFERED ONE-ON-ONE, WITH A FOCUS ON IDENTIFYING SPECIFIC NEEDS AND SOLUTIONS TO ADDRESS THE SPECIFIC CHALLENGES OF EACH ENTREPRENEUR.IN 2020, NEXTSTAGE PARTNERED WITH MULTIPLE CITY AND COUNTY DEVELOPMENT AUTHORITIES TO DELIVER EMERGENCY RELIEF TO MORE THAN 6000 SMALL BUSINESSES IMPACTED BY THE COVID EMERGENCY AND MANDATED CLOSURES. 359167 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 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 11 0 1 1 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 0 0 0 MN X LEE HALL 9529212381 8400 NORMANDALE BLVD NO 920 BLOOMINGTON MN 55437 DERREK BEEVAS BOARD CHAIR 1.00 X X 0 0 0 KRIS MARITZ BOARD VICE CHAIR 1.00 X X 0 0 0 ANDREW SWAMMI BOARD TREASURER 1.00 X X 0 0 0 CLAY TAYLOR BOARD SECRETARY 1.00 X X 0 0 0 LEE HALL CEO 40.00 X X 77500 0 0 77500 0 0 0 0 0 0 0 PROGRAMS AND SERVICES 541900 2338445 2338445 PROGRAM LOAN INTEREST 522291 278 278 2338723 253 253 2338976 2338723 0 253 X 77500 67919 9581 6503 5699 804 196919 196594 325 1939 1699 240 18529 16262 2267 66375 58169 8206 7884 6908 976 22 22 4085 3580 505 PROVISION FOR LOAN LOSS 2337 2337 BANK CHARGES/FEES 1500 1500 383593 359167 24426 0 2492536 300024 13239 0 2200 0 2807999 15116 0 837500 0 852616 X 1955383 0 1955383 0 2807999 1955383 0 X 0 1 X 1 0 X 0 0 253 253 253 2338723 X SCH. A, PART III THE ORGANIZATION WAS FORMED IN 2020. THE 2020 TAX YEAR IS A SHORT YEAR FROM MAY 1, 2020 TO DECEMBER 31, 2020. 0 REFUNDABLE ADVANCES 20000 AGENCY GRANTS PAYABLE 817500 837500 X 2338976 0 2338976 0 2338976 383593 0 383593 0 383593 PART X, LINE 2: THE ORGANIZATION REVIEWS AND ASSESSES ITS TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN TAX RETURNS. BASED ON THIS ASSESSMENT THE ORGANIZATION DETERMINES WHETHER IT IS MORE LIKELY THAN NOT THAT THE POSITION WOULD BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE ORGANIZATION'S ASSESSMENT HAS NOT IDENTIFIED ANY SIGNIFICANT POSITIONS THAT IT BELIEVES WOULD NOT BE SUSTAINED UNDER EXAMINATION. THE ORGANIZATION HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS IT'S ONLY SIGNIFICANT TAX POSITION AND HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO SEPARATE COMMITTEES OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE CEO ONCE RECEIVED FROM THE ACCOUNTANTS. AFTER THE REVIEW IS COMPLETE THE 990 IS EMAILED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS OR ANY INTERESTED/RELATED PERSON MUST DISCLOSE THE EXISTENCE OF ANY POTENTIAL CONFLICTS OF INTEREST AND IS GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS OF THE BOARD CONSIDERING THE TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FACTS RELATED TO THE CONFLICT, AND AFTER ANY DISCUSSION WITH THE PERSON WITH THE CONFLICT, HE/SHE SHALL LEAVE THE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE CHAIRPERSON OF THE BOARD SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER THE CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. HOWEVER, THE FORM 990 AND FORM 1023 ARE PROVIDED UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTORS: PROGRAM SERVICE EXPENSES 196,594. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 196,594. PAYROLL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 325. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 325.