Minnesota Center for Employee Ownership

Overview

The Minnesota Center for Employee Ownership (MNCEO) is a 501c3 non-profit organization dedicated to promoting and educating on various forms of employee ownership across the state of Minnesota. It serves as the primary hub for unbiased information and resources on employee ownership models, including Employee Stock Ownership Plans (ESOPs), Worker-Owned Cooperatives, and Employee Ownership Trusts (EOTs).

Mission and Purpose

MNCEO's mission is to turn Minnesota into a state where every working person can be an employee-owner. It focuses on educating business owners and their advisors about the benefits of employee ownership, providing case studies, resources, and connecting businesses with service providers who specialize in employee ownership transitions. This is particularly relevant as over 52,000 Minnesota businesses owned by retiring baby boomers will change hands or dissolve over the next few years, with many lacking succession plans.

History

MNCEO was established in early 2020 as part of the Employee Ownership Expansion Network (EOX), which aims to create a national network of state centers for employee ownership. The EOX began forming state centers in 2019 to promote education and outreach on employee ownership models nationwide.

Leadership and Team

Kirsten Kennedy serves as the Executive Director of MNCEO. She leads efforts in networking, fundraising, and programming aimed at promoting employee ownership throughout Minnesota. Kennedy has a background in public policy, having served as the mayor of North Branch and worked on economic development and social justice initiatives.

Financial Structure

MNCEO operates primarily on contributions, which accounted for about 94% of its revenue in the fiscal year ending 2023. The organization is supported by donations, which are tax-deductible.

Programs and Activities

MNCEO offers various resources and services, including educational events, webinars, and access to a network of professionals experienced in employee ownership. It helps businesses navigate succession planning and positions them for sustained success by facilitating their transition to employee-owned models.

Impact and Vision

By promoting employee ownership, MNCEO aims to preserve jobs, enhance community stability, and foster economic development within Minnesota. The organization supports a high-involvement work culture where employees are encouraged to think and act like owners, leading to improved corporate performance and employee financial well-being.