Minnesota Thunder Academy
EIN: 26-3017116 · Tax status: 501(c)(3) nonprofit
Overview
Founded in 2008 through the merger of two elite Minnesota youth clubs. Based in Richfield, MN (central Twin Cities). The only soccer club in Minnesota to compete in the ECNL on both the boys and girls side, and the only Minnesota club ranked in the Top 100 Clubs in the US by SoccerWire.com. (HIGH — confirmed via ECNL website and club site)
Financials
| Fiscal Year | Revenue | Expenses | Net Assets |
|---|---|---|---|
| 2024 | $3,353,243 | $2,892,034 | $1,553,169 |
| 2023 | $2,484,777 | $2,215,526 | $1,091,960 |
| 2022 | $2,099,169 | $1,879,854 | $822,709 |
| 2021 | $2,073,757 | $1,515,639 | $603,395 |
| 2020 | $1,574,781 | $1,424,633 | $45,277 |
| 2019 | $1,833,774 | $1,684,153 | ($104,871) |
| 2018 | $972,004 | $930,615 | ($254,492) |
Source: ProPublica / IRS Form 990 (HIGH)
Revenue growth: 245% from FY2018 ($972K) to FY2024 ($3.35M). The club was in negative net assets through FY2019 but has built $1.55M in net assets by FY2024.
Revenue mix: Program services 94.9%, contributions 3.5%, fundraising 0.8%, investment 0.6%.
Net margin: 13.7% (FY2024) — healthy and improving.
Executive compensation: $78,637 total; ED Maureen Brick at $77,300.
Teams & Players
Offers programs from ages 6-20. Competitive pathway: ThunderBolts (developmental) → TCSL → Minnesota NPL → ECNL-RL Twin Cities → ECNL-RL Midwest → ECNL National.
Estimated 1,000-1,500 players across all programs. (LOW — not confirmed, estimated from revenue and typical per-player economics)
League Affiliations
- ECNL Boys + Girls (national level) — only MN club with dual ECNL franchise
- ECNL-RL Midwest Boys
- ECNL-RL Twin Cities Boys + Girls
- Minnesota NPL (via TCSL)
- TCSL member
Facilities
- Winter Park Field House — Eden Prairie, MN (indoor training)
- Academy of Holy Angels — Richfield, MN (outdoor fields)
No owned facilities identified. (MEDIUM)
Leadership
- Maureen Brick — Executive Director ($77,300 compensation, FY2024)
College Placement
Club claims to have “developed more players that compete at the collegiate, professional, and national team level than any other club in the Upper Midwest.” (MEDIUM — club website claim, not independently verified)
Competitive Position
Dominant position in Minnesota’s competitive youth soccer hierarchy:
- Only dual-ECNL franchise in the state
- Serves as the apex of the TCSL/NPL/ECNL-RL pathway pyramid
- Competes for top talent against MNUFC Academy (free, MLS-backed) and Shattuck-St. Mary’s (boarding school)
- Strong brand recognition and growth trajectory
Weaknesses:
- No owned facilities — trains at school and city-owned venues
- Competes against free MNUFC Academy for elite boys players
- Hockey culture in MN limits total addressable market for elite soccer
- Executive compensation is low ($78K) — may indicate lean operations or difficulty attracting top admin talent
Investment Thesis
TOP ACQUISITION TARGET in Minnesota. The dual-ECNL franchise is the crown jewel — it is the single most valuable competitive license in the state. The club’s strong revenue growth, positive net assets, and central Twin Cities location make it an attractive anchor for a Minnesota platform.
Estimated valuation range: $5-8M (based on 1.5-2.4x revenue, premium for ECNL franchise). (LOW — needs comp analysis)
Key risk: ECNL franchise portability — if the franchise is non-transferable or subject to ECNL approval on ownership change, this could complicate an acquisition.
Open Questions
- Is the ECNL franchise transferable in an acquisition?
- What is the exact player count by program level?
- What are the facility lease/rental terms?
- Who are the board members and are there any related-party transactions?
- What is the coaching staff size and total compensation?
- Is there a development academy or pre-academy feeder program at the recreational level?