Initiative Foundation

“The loan committee carries out the policies approved by the board of trustees. The committee approves applications up to certain dollar amounts for various loans. It also reviews monthly and quarterly status reports on loans, including review of delinquent loans, provides input on charge-offs and other adverse action which may be necessary, and participates in evaluation activities of the fund. The loan committee consists of at least five and generally no more than eleven members, with approximately half of the members serving on the board of trustees. The board of trustees appoints members annually. The executive loan sub-committee approves or denies any loan applications that were tabled for more information at a prior loan committee meeting. The sub-committee consists of three loan committee members, including the chair, vice-chair, and one other member appointed by the chair unless other arrangement were approved by the loan committee. Business finance committee - this committee is composed of up to eleven individuals (approx. 1/2 from the board). It meets as needed to oversee the business financing portfolio and to review and approve business loan and investment applications over $50,000.”

“Upon receipt, and prior to filing, form 990 is reviewed with the investment and audit committee and by the president and the cfo/treasurer. A copy of form 990 is provided to board members for their review.”

“Members of the board or committees will not participate in discussing or voting upon any proposal or business agreement in which they have a direct or indirect personal or financial interest without informing the board or committe of a potential conflict as soon as it becomes apparent. Staff will not promote proposals or initiate business agreements that would financially benefit them or members of their family without informing the president. The board will be notified if the president has a potential conflict. If the conflict is determined to exist, options to be employed, at the discretion of the chair and/or president would include, but not limited to: 1) the board member, committee member or staff member would not be permitted input on the decision, 2) the member in question may respond to specific inquiries regarding the decision, but not participate in making the decision, 3) the member in question shall leave the room while the item is under discussion. Board/committee/staff members complete a conflict of interest disclosure form at the beginning of each calendar year or upon appointment.”

“Compensation of organization's president: the governance committee of the board is charged with coordinating the president's annual review and for recommending a compensation package to the full board of trustees. The process includes review of a written report prepared by the president on the accomplishments and achievements of the agreed upon annual goals; conducting confidential informal interviews with all trustees, selected staff and key constituents whom the committee identifies; and gathering general observations from the full board of trustees on an ongoing basis. The governance committee reviews executive compensation data from the other mifs, mcf and the national cof and prepares a confidential report for the board summarizing the performance and its recommendations. The board reviews and takes action on the report and after which time the board chair provides written documenation related to changes in compensation. This review was last performed in 2013. Compensation of organization's officers: positions are grouped in like classifications. Salary ranges are established based on market, mif and mcn surveys. Compensation is determined by a number of factors including education, prior experience, longevity, number of direct reports, and risk associated with the type of work performed. The president conducts annual performance reviews and sets compensation levels. This review was last performed in 2013.”

“The organization's financial statements are made available within the annual report or upon request. The organization's governing documents and conflict of interest policy are not available to the public.”

“Early childhood initiative highlights: fifteen early childhood coalitions are currently active within the foundation's fourteen county region. A large number of communities continue to face significant economic challenges with higher than average numbers of children and families living in poverty in benton, cass, crow wing, kanabec, mille lacs, pine, todd and wadena counties. Each team has participated in coalition-building, leadership, and strategic planning trainings and has developed an action plan to increase the quality of early care and education in their respective areas. Each has a highly committed team made up of parents, business leaders, educators, elected officials and health care providers. Primary activities focus on early childhood literacy, school readiness, and coordination with the new 'parent aware' system of ranking child care providers. The minnesota thrive initiative, which focuses on early childhood mental health issues, is focusing on how to improve access to early intervention services for immigrant and refugee populations. Representatives from a variety of early intervention, education, and health organizations and programs, along with local cultural leaders and initiative foundation staff, continue their work serving this population. In october 2013, we launched an early childhood dental network (ecdn) program for communities in the initiative foundation's region. This work focuses on increasing access to timely, appropriate and affordable dental care with a focus on children ages birth to five, as well as increasing oral health awareness and education to children, parents and families to help them understand the importance of good oral health to one's overall health and well being. Thriving communities initiative (tci) highlights: the communities of foley (benton county) and rush city (chisago county) were welcomed into the thriving communities initiative in 2013. Over 25 communities are currently receiving technical assistance, resource referral and grants to advance community and economic development, workforce development and quality of life priorities. The new 'innovation networks' community development approach fosters creative problem solving while also better engaging younger residents, minorities, and newcomers to the region. The program seeks to make better use of technology to respect citizen participants' time and schedules, and support strong communication and sharing of ideas across sectors and outside of geographical boundaries. In addition to surfacing creative strategies, our intent is to 'amplify' the impact of our investments in community development by holding up successes (and lessons learned) throughout the region via iq magazine and online communication tools. Thriving organizations partnership (top) highlights: since july 2001, over 200 organizations have participated in our nonprofit capacity-building programs including financial resiliency, leadership training, strategic planning, technical assistance, grant support and resource referral. Additional capacity building training on grant writing, crowd funding, governance, effective meetings, outcome-based goal setting, nonprofit financial management, board issues, media relations, strategic communications, developing and using case statements, public policy basics, managing volunteers, and nonprofit standards of excellence have also been provided to over 500 nonprofit leaders (staff, volunteers, board members). In 2013, the new top initiative was launched which includes three program components. The financial resiliency & social enterprise (frse) grant and training program helps nonprofits become more financially sustainable and identify alternative sources of earned-income while maintaining a clear focus on core mission. Twenty organizations are currently participating in this year-long program. Leaders circles is a professionally facilitated peer learning program that convenes monthly groups of five to seven nonprofit execut”

“Economic development highlights: the initiative foundation issued 26 loans totaling $2,139,302 from its revolving loan fund in 2013, which leveraged over $15 million in private financing and equity investment. The financing projects resulted in the creation of 96 jobs and retention of 294 jobs, the majority of which met or exceeded the targeted living wage of $18 per hour including benefits. Technical assistance was provided to 14 businesses through a combination of external consulting programs or scholarships for training, resulting in improved skills or tools to operate their business. These companies collectively employed over 250 people, and 85% of the companies reported an increase in sales, net income, assets or market development. Focused outreach with community banks, chambers of commerce and volunteer business groups through our thriving communities work remains a priority in order to increase loan deal flow in all communities. We also focused on partnerships and capacity building for local economic development organizations. Support includes strategic planning, linking to other funders and job creation opportunities, challenge grants to spur membership growth, and development of technology tools (a web portal) or programs to develop, attract and retain skilled workers.”

“Communications highlights: the initiative foundation celebrated its 10th year of publishing iq magazine with a circulation of 15,000 subscribers and a pass along rate that reaches up to 60,000 readers. Each edition averages 60 pages and features quality journalistic pieces that illuminate trends and happenings in our 14-county region while enlightening readers about the opportunities and solutions that are achieved to improve and enhance community and economic development, organizational development and the power and reach of philanthropy in central minnesota. The foundation's website was restructured and upgraded. The new site includes updated program information, planned giving tools, and netsuite portals for donors, fund advisers and various financial transactions. The foundation regularly publishes news and information updates to its website and actively shares content to the following social media platforms: facebook, twitter, linkedin and youtube. The foundation closed out the year with its 2013 initiative awards event, attended by 415 people and spotlighted economic, community and philanthropic heroes of the region.”

“Fund development highlights: the initiative foundation exceeded annual fundraising goals with campaigns to build its endowment and support program operations. Economic development support from city and county government, utilities, financial institutions, and regional businesses increased substantially. The foundation also added six new charitable 'turn key' funds, which were established in partnership with individuals, nonprofit organizations, and volunteer groups.”