Civic Intelligence

Rochester Community Finance

990 • Fiscal year 2020 • EIN 27-4641831

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileN/A
12 Elton Hills Drive NWRochester, MN 55901

(507) 282-0203

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Top Officer Pay

99th percentile

$139,470

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 49.9% of source-year revenue.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

94%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $2,267,850 (-100%) from 2019

Net Assets

Down

$0

Down $1,019,129 (-100%) from 2019

Liabilities

Down

$0

Down $1,248,721 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin98th percentile

Revenue

Up

$279,628

Up $135,670 (+94%) from 2019

Expenses

Down

$31,831

Down $2,109 (-6.2%) from 2019

Net Income

Up

$247,797

Up $137,779 (+125%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2014: $2,312,476Liabilities 2014: $2,098,691Net Assets 2014: $213,7852014Assets 2015: $2,314,989Liabilities 2015: $2,021,540Net Assets 2015: $293,4492015Assets 2017: $2,197,575Liabilities 2017: $1,356,680Net Assets 2017: $840,8952017Assets 2018: $2,189,342Liabilities 2018: $1,277,231Net Assets 2018: $912,1112018Assets 2019: $2,267,850Liabilities 2019: $1,248,721Net Assets 2019: $1,019,1292019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0Revenue 2014: $209,921Expenses 2014: $144,352Net Income 2014: $65,5692014Revenue 2015: $166,310Expenses 2015: $86,646Net Income 2015: $79,6642015Revenue 2017: $327,704Expenses 2017: $86,720Net Income 2017: $240,9842017Revenue 2018: $124,916Expenses 2018: $46,700Net Income 2018: $78,2162018Revenue 2019: $143,958Expenses 2019: $33,940Net Income 2019: $110,0182019Revenue 2020: $279,628Expenses 2020: $31,831Net Income 2020: $247,7972020

Highlighted filing

2020

Revenue$279,628
Expenses$31,831
Net Income$247,797
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$279,628
Mission and Program Overview

Mission

The primary mission of impact finance is to promote community development by providing activities directed towards improving the social or economic conditions of underserved people or residents of distressed communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,886,482$0▼ $1,886,482
Cash and Non-Interest-Bearing Accounts$359,672$0▼ $359,672
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Loans From Officers Directors-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,267,850$0▼ $2,267,850
Other Assets Total$21,696$0▼ $21,696
Liabilities
Other Liabilities$1,248,721$0▼ $1,248,721
Accounts Payable and Accrued Expenses-$0-
Grants Payable-$0-
Mortgage Notes Payable Secured by Investment Property-$0-
Unsecured Notes Loans Payable-$0-
Deferred Revenue-$0-
Escrow Account Liability-$0-
Tax Exempt Bond Liabilities-$0-
Total Liabilities$1,248,721$0▼ $1,248,721
Net Assets / Fund Balance
Net Assets With Donor Restrictions$919,129$0▼ $919,129
Net Assets Without Donor Restrictions$100,000$0▼ $100,000
Total Net Assets Fund Balance$1,019,129$0▼ $1,019,129
Total Liabilities and Net Assets / Fund Balance$2,267,850$0▼ $2,267,850
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseOtherTotal
Jennifer WoodfordExecutive Director$6,824$132,646$139,470

Board Members and Trustees

NameTitle
Mary Jo MajerusChair
Athieei LamMember
Jeff UrbanMember
Jose RivasSecretary
Susan StrandbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$50,000
Program Service Revenue
$6,270
Investment Income
$223,358
Other Revenue
$0
Change in Net Assets
$247,797
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,889
Other Expenses$8,942
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,979$3,758-$10,737
Current Officers, Directors, Trustees, and Key Employees$4,533$2,441-$6,974
Payroll Taxes$2,433$1,310-$3,743
Depreciation Depletion$1,601$1,600-$3,201
Other Expenses$1,489$263-$1,752
Fees for Services Accounting$1,407$248-$1,655
Other Employee Benefits$933$502-$1,435
All Other Expenses$407$409-$816
Occupancy$273$272-$545
Office Expenses$457$81-$538
Interest$218$217-$435
Total Functional Expenses$20,730$11,101$0$31,831
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Rochester area foundation is the sole owner of impact finance.”

Form 990, Part VI, Section A, Line 7A

“The board of directors of impact finance shall be elected by the board members of the rochester area foundation.”

Form 990, Part VI, Section B, Line 11B

“An electronic copy of form 990 is provided to the board of directors for review prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“Officers, directors, trustees, and key employees are annually required to fill out and sign disclosure form. They must also verbally indicate whether a conflict exists and abstain from voting at board meeting.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and/or financial statements may be obtained by the public on the organization's website or upon request for the same period of disclosure as set forth in section 6104(d).”

Filing and Contact Details

Filer

Filer Name
Impact Finance
EIN
27-4641831
Phone
5072820203
Address
12 ELTON HILLS DRIVE NW, ROCHESTER, MN 55901

Signing Officer

Name
Jennifer Woodford
Title
President
Phone
5072820203
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Woodford
Formed
2011
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Rsm US Llp
Address
801 NICOLLET MALL WEST TOWER STE, 1200, MINNEAPOLIS, MN 55402-2526
Preparer
Kacie Mcewen
Phone
6123324300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The organization dissolved and transferred all remaining assets to first homes properties, a related organization.”

FORM 990, PART XI, LINE 9:

“Assets transferred to first homes properties -1,266,926.”

FORM 990, PART XI, LINE 2C:

“The finance committee has the responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The foundation believes that no significant uncertain tax positions have been taken in its tax returns. At december 31, 2020, generally, the federal and minnesota tax returns for the foundation are open for examination by taxing authorities for the years 2017 to 2020. At december 31, 2020 and 2019, the foundation did not record any liabilities for uncertain tax positions.”

Raw XML AppendixShowing 400 of 467 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt00
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE PRIMARY MISSION OF IMPACT FINANCE IS TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING ACTIVITIES DIRECTED TOWARDS IMPROVING THE SOCIAL OR ECONOMIC CONDITIONS OF UNDERSERVED PEOPLE OR RESIDENTS OF DISTRESSED COMMUNITIES.
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0409
IRS990/AllOtherExpensesGrp/ProgramServicesAmt0407
IRS990/AllOtherExpensesGrp/TotalAmt0816
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JENNIFER WOODFORD
IRS990/BooksInCareOfDetail/PhoneNum05072820203
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt012 ELTON HILLS DRIVE NW
IRS990/BooksInCareOfDetail/USAddress/CityNm0ROCHESTER
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055901
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0359672
IRS990/CashNonInterestBearingGrp/EOYAmt00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt02441
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt04533
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt06974
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/ContractTerminationInd0X
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt050000
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0223358
IRS990/CYOtherExpensesAmt08942
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt06270
IRS990/CYRevenuesLessExpensesAmt0247797
IRS990/CYSalariesCompEmpBnftPaidAmt022889
IRS990/CYTotalExpensesAmt031831
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0279628
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt01600
IRS990/DepreciationDepletionGrp/ProgramServicesAmt01601
IRS990/DepreciationDepletionGrp/TotalAmt03201
IRS990/Desc0IMPACT FINANCE, FORMERLY KNOWN AS ROCHESTER COMMUNITY FINANCE (RCF), HELPS COMMUNITIES GROW BY PROVIDING DOWN PAYMENT ASSISTANCE LENDING SO LOW-AND MODERATE-INCOME FAMILIES CAN ATTAIN AFFORDABLE HOUSING. IMPACT FINANCE HELPS PEOPLE IN SEVEN LOCAL COUNTIES AFFORD HOME OWNERSHIP. IMPACT FINANCE HAS A SUCCESSFUL GAP LOAN PROGRAM THAT PROVIDES LOW-INTEREST GAP LOANS TO UNDERSERVED BUYERS THROUGH OUR LENDING PRODUCT AND IN PARTNERSHIP WITH LOCAL BANKS TO ENABLE QUALIFIED BUYERS TO ACHIEVE AFFORDABLE HOMEOWNERSHIP. INDIVIDUALS MAY BE ELIGIBLE FOR FUNDS TO PAY FOR CLOSING COSTS AND/OR DOWN PAYMENT ASSISTANCE TO HELP REDUCE MONTHLY MORTGAGE PAYMENTS. IMPACT FINANCE PROVIDES UP TO $10,000 FOR QUALIFIED BUYERS AT TWO OPTIONS:2% INTEREST GAP LOAN AMORTIZED OVER 10 YEARS.0% INTEREST DEFERRED GAP LOAN AMORTIZED OVER 30 YEARS WHEN PURCHASING A FIRST HOMES COMMUNITY LAND TRUST PROPERTY.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt0919129
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/ExpenseAmt020730
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt0248
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt01407
IRS990/FeesForServicesAccountingGrp/TotalAmt01655
IRS990/FinalReturnInd0X
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt538.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt52996
IRS990/Form990PartVIISectionAGrp/PersonNm0MARY JO MAJERUS
IRS990/Form990PartVIISectionAGrp/PersonNm1JOSE RIVAS
IRS990/Form990PartVIISectionAGrp/PersonNm2SUSAN STRANDBERG
IRS990/Form990PartVIISectionAGrp/PersonNm3ATHIEEI LAM
IRS990/Form990PartVIISectionAGrp/PersonNm4JEFF URBAN
IRS990/Form990PartVIISectionAGrp/PersonNm5JENNIFER WOODFORD
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt56824
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt5129650
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02011
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt050000
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0279628
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt0217
IRS990/InterestGrp/ProgramServicesAmt0218
IRS990/InterestGrp/TotalAmt0435
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt0223358
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0223358
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt052
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE PRIMARY MISSION OF IMPACT FINANCE IS TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING ACTIVITIES DIRECTED TOWARDS IMPROVING THE SOCIAL OR ECONOMIC CONDITIONS OF UNDERSERVED PEOPLE OR RESIDENTS OF DISTRESSED COMMUNITIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt01019129
IRS990/NetAssetsOrFundBalancesEOYAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0100000
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0272
IRS990/OccupancyGrp/ProgramServicesAmt0273
IRS990/OccupancyGrp/TotalAmt0545
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt081
IRS990/OfficeExpensesGrp/ProgramServicesAmt0457
IRS990/OfficeExpensesGrp/TotalAmt0538
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt021696
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-1266926
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0502
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0933
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01435
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0263
IRS990/OtherExpensesGrp/ProgramServicesAmt01489
IRS990/OtherExpensesGrp/TotalAmt01752
IRS990/OtherLiabilitiesGrp/BOYAmt01248721
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt03758
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06979
IRS990/OtherSalariesAndWagesGrp/TotalAmt010737
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01886482
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01310
IRS990/PayrollTaxesGrp/ProgramServicesAmt02433
IRS990/PayrollTaxesGrp/TotalAmt03743
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JENNIFER WOODFORD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0LOAN FORGIVENESS
IRS990/ProgramServiceRevenueGrp/Desc1ADMIN FEE INCOME & OTH
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04227
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04227
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12043
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt050000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt087358
IRS990/PYOtherExpensesAmt012489
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt06600
IRS990/PYRevenuesLessExpensesAmt0110018
IRS990/PYSalariesCompEmpBnftPaidAmt021451
IRS990/PYTotalExpensesAmt033940
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0143958
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0247797
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06270
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION BELIEVES THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS HAVE BEEN TAKEN IN ITS TAX RETURNS. AT DECEMBER 31, 2020, GENERALLY, THE FEDERAL AND MINNESOTA TAX RETURNS FOR THE FOUNDATION ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS 2017 TO 2020. AT DECEMBER 31, 2020 AND 2019, THE FOUNDATION DID NOT RECORD ANY LIABILITIES FOR UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd01
IRS990ScheduleN/EmployeeOfSuccessorInd01
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH/SAVINGS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1MORTGAGE, INTEREST & OTHER REVEIVABLES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0FIRST HOMES PROPERTIES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1FIRST HOMES PROPERTIES
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02020-12-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12020-12-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0412004557
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1412004557
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0190275
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt11640980
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0FMV
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1FMV
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt012 ELTON HILLS DRIVE NW
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt112 ELTON HILLS DRIVE NW
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0ROCHESTER
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1ROCHESTER
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd055901
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd155901
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: JENNIFER WOODFORD & JOSE RIVAS
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: IMPACT FINANCE, UPON DISSOLUTION, TRANSFERRED ALL ASSETS TO A RELATED ORGANIZATION, FIRST HOMES PROPERTIES. JENNIFER WOODFORD AS THE EXECUTIVE DIRECTOR WAS AN OFFICER OF BOTH ORGANIZATIONS PRIOR TO THE DISSOLUTION. JOSE RIVAS WAS A TRUSTEE AND OFFICER OF IMPACT FINANCE AND A TRUSTEE OF FIRST HOME PROPERTIES PRIOR TO THE DISSOLUTION.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DISSOLVED AND TRANSFERRED ALL REMAINING ASSETS TO FIRST HOMES PROPERTIES, A RELATED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ROCHESTER AREA FOUNDATION IS THE SOLE OWNER OF IMPACT FINANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS OF IMPACT FINANCE SHALL BE ELECTED BY THE BOARD MEMBERS OF THE ROCHESTER AREA FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AN ELECTRONIC COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE ANNUALLY REQUIRED TO FILL OUT AND SIGN DISCLOSURE FORM. THEY MUST ALSO VERBALLY INDICATE WHETHER A CONFLICT EXISTS AND ABSTAIN FROM VOTING AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND/OR FINANCIAL STATEMENTS MAY BE OBTAINED BY THE PUBLIC ON THE ORGANIZATION'S WEBSITE OR UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ASSETS TRANSFERRED TO FIRST HOMES PROPERTIES -1,266,926.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE FINANCE COMMITTEE HAS THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1RAF PROPERTIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2FIRST HOMES PROPERTIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0416017740
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1411891463
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2412004557
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0STRENGTHEN COMMUNITY PHILANTHROPY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TO RECEIVE, HOLD & DISBURSE ANY REAL PROPERTY FOR ROCHESTER AREA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2TO PROVIDE OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS IN SE MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt2LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt012 ELTON HILLS DRIVE NW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt112 ELTON HILLS DRIVE NW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt212 ELTON HILLS DRIVE NW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ROCHESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1ROCHESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2ROCHESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055901
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd155901
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd255901
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt02267850
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt02267850
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt050000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011101

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$279,628
Expenses
$31,831
Net income
$247,797
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.28$0.03$0.25
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.27$1.25$1.02$0.14$0.03$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.19$1.28$0.91$0.12$0.05$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.20$1.36$0.84$0.33$0.09$0.24
2015Detailed filing. Detailed filing data is available for this year.$2.31$2.02$0.29$0.17$0.09$0.08
2014Detailed filing. Detailed filing data is available for this year.$2.31$2.10$0.21$0.21$0.14$0.07
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)4 • <$500k nonprofits