Liabilities / Assets
28th percentile
Higher debt load relative to assets than 28% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.10x
Liabilities / Revenue
69th percentile
Higher debt load relative to revenue than 69% of similar nonprofits.
Net Margin
74th percentile
Higher net margin than 74% of similar nonprofits.
Top Officer Pay
21st percentile
Higher top officer pay than 21% of similar nonprofits.
Top officer pay equals 2.3% of source-year revenue.
Asset Growth
83rd percentile
Faster asset growth than 83% of similar nonprofits.
Revenue Growth
80th percentile
Faster revenue growth than 80% of similar nonprofits.
Balance Sheet
Assets
Up$74,000,813
Up $10,933,574 (+17%) from 2016
Net Assets
Up$66,560,368
Up $7,481,036 (+13%) from 2016
Liabilities
Up$7,440,445
Up $3,452,538 (+87%) from 2016
Revenue And Expenses
Revenue
Up$8,640,352
Up $1,718,202 (+25%) from 2016
Expenses
Up$7,323,711
Up $1,375,014 (+23%) from 2016
Net Income
Up$1,316,641
Up $343,188 (+35%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2017 to Dec 31, 2017
- Signed
- May 9, 2018
- Return Version
- 2017v2.2
- Gross Receipts
- $19,927,436
Mission and Program Overview
Mission
To empower people to build thriving communities and a vibrant region across central minnesota.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $45,920,475 | $54,806,354 | ▲ $8,885,879 |
| Other Notes and Loans Receivable, Net | $8,282,395 | $8,556,234 | ▲ $273,839 |
| Investments Other Securities | $3,459,778 | $4,287,704 | ▲ $827,926 |
| Cash and Non-Interest-Bearing Accounts | $1,203,377 | $2,206,169 | ▲ $1,002,792 |
| Land, Buildings, and Equipment, Net | $1,899,798 | $1,801,542 | ▼ $98,256 |
| Savings and Temporary Cash Investments | $1,311,199 | $1,109,229 | ▼ $201,970 |
| Pledges and Grants Receivable | $875,663 | $1,086,081 | ▲ $210,418 |
| Prepaid Expenses and Deferred Charges | $49,138 | $78,934 | ▲ $29,796 |
| Accounts Receivable | $65,416 | $68,566 | ▲ $3,150 |
| Total Assets | $63,067,239 | $74,000,813 | ▲ $10,933,574 |
| Liabilities | |||
| Unsecured Notes Loans Payable | $996,000 | $2,476,648 | ▲ $1,480,648 |
| Grants Payable | $618,002 | $1,549,922 | ▲ $931,920 |
| Mortgage Notes Payable Secured by Investment Property | $1,475,251 | $1,356,755 | ▼ $118,496 |
| Deferred Revenue | $275,389 | $1,060,614 | ▲ $785,225 |
| Escrow Account Liability | $234,849 | $599,498 | ▲ $364,649 |
| Accounts Payable and Accrued Expenses | $388,314 | $397,008 | ▲ $8,694 |
| Other Liabilities | $102 | $0 | ▼ $102 |
| Total Liabilities | $3,987,907 | $7,440,445 | ▲ $3,452,538 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $32,690,026 | $36,475,135 | ▲ $3,785,109 |
| Permanently Rstr Net Assets | $20,646,558 | $21,235,697 | ▲ $589,139 |
| Temporarily Rstr Net Assets | $5,742,748 | $8,849,536 | ▲ $3,106,788 |
| Total Net Assets Fund Balance | $59,079,332 | $66,560,368 | ▲ $7,481,036 |
| Total Liabilities and Net Assets / Fund Balance | $63,067,239 | $74,000,813 | ▲ $10,933,574 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $986,830 | $790,063 | $1,776,893 |
| Land | $768,200 | - | $768,200 |
| Equipment | $46,512 | $413,809 | $460,321 |
| Other Securities | $4,287,704 | - | - |
Endowment Activity
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2017 | $47,521,361 | $840,759 | ▲ $7,512,426 | $3,046,549 | $52,827,997 |
| 2016 | $45,268,612 | $930,575 | ▲ $3,421,606 | $2,099,432 | $47,521,361 |
| 2015 | $47,230,663 | $1,433,411 | ▼ $1,081,691 | $2,313,771 | $45,268,612 |
| 2014 | $45,523,288 | $1,076,855 | ▲ $2,265,355 | $1,634,835 | $47,230,663 |
| 2013 | $39,756,935 | $1,166,007 | ▲ $6,466,873 | $1,866,527 | $45,523,288 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Matt Varilek | President | FT | $163,351 | $34,273 | $197,624 |
| Lynn Bushinger | COO/CFO/treasurer | FT | $107,626 | $19,769 | $127,395 |
Board Members and Trustees
| Name | Title |
|---|---|
| Larry Korf | Trustee/chair |
| John E Babcock | Trustee/vice-chair |
| Charles Black Lance | Trustee |
| David Monroy | Trustee |
| Earl Potter | Trustee |
| John J Babcock | Trustee |
| Kim Ellingson | Trustee |
| Linda Eich Desjardins | Trustee |
| Pat Gorham | Trustee |
| Reggie Clow | Trustee |
| Rick Bauerly | Trustee |
| Steve Shurts | Trustee |
| Traci Tapani | Trustee |
| Wayne Wolden | Trustee |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,977,516
- Program Service Revenue
- $652,815
- Investment Income
- $1,849,956
- Other Revenue
- $160,065
- All Other Contributions
- $4,887,233
- Change in Net Assets
- $1,316,641
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $8,579,149
- Revenue Not Reported on Financial Statements
- $61,203
- Revenue Not Reported on Form 990
- $6,164,395
- Total Revenue per Audited Statements
- $14,743,544
- Total Revenue per Form 990
- $8,640,352
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $3,617,772 |
| Salaries, Compensation, and Employee Benefits | $2,335,157 |
| Other Expenses | $1,370,782 |
| Total Fundraising Expense | $486,516 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $3,248,553 | - | - | $3,248,553 |
| Other Salaries and Wages | $836,981 | $481,488 | $264,955 | $1,583,424 |
| Grants to Domestic Individuals | $369,219 | - | - | $369,219 |
| Current Officers, Directors, Trustees, and Key Employees | $124,986 | $145,689 | $57,800 | $328,475 |
| Fees for Services Other | $226,151 | $3,085 | $1,111 | $230,347 |
| Other Employee Benefits | $104,580 | $74,083 | $43,117 | $221,780 |
| Payroll Taxes | $67,705 | $43,038 | $22,963 | $133,706 |
| Information Technology | $58,491 | $36,587 | $17,030 | $112,108 |
| Depreciation Depletion | $47,795 | $26,916 | $15,733 | $90,444 |
| Fees for Service Investment Mgmnt Fees | - | $90,087 | - | $90,087 |
| Occupancy | $40,496 | $27,142 | $15,864 | $83,502 |
| Office Expenses | $35,707 | $25,290 | $18,013 | $79,010 |
| Pension Plan Contributions | $38,241 | $18,628 | $10,903 | $67,772 |
| Travel | $28,407 | $11,438 | $5,668 | $45,513 |
| Advertising | $18,966 | $16,904 | $1,425 | $37,295 |
| Interest | $36,806 | - | - | $36,806 |
| Fees for Services Accounting | - | $23,500 | - | $23,500 |
| Conferences and Meetings | $7,838 | $6,368 | $145 | $14,351 |
| Other Expenses | $12,334 | $6,568 | $2,485 | $12,334 |
| Fees for Services Legal | $10,777 | - | - | $10,777 |
| All Other Expenses | $4,227 | $514 | $259 | $5,000 |
| Insurance | $2,292 | $1,536 | $898 | $4,726 |
| Total Functional Expenses | $5,746,987 | $1,090,208 | $486,516 | $7,323,711 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $7,323,711 |
| Expenses per Audited Statements | $7,262,508 |
| Total Expenses per Audited Statements | $7,262,508 |
| Expenses Not Reported on Financial Statements | $61,203 |
| Expenses Not Reported on Form 990 | $0 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| National Park Service Voyageurs National Park | International Falls, MN | Unit of Government | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $800,000 |
| Greater Lake Sylvia Association | Annandale, MN | 501(c)(3) | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $623,340 |
| Wildlife Forever | Brooklyn Center, MN | 501(c)(3) | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $264,800 |
| Association of Cass County Lakes | Apple Valley, MN | 501(c)(3) | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $210,000 |
| Sauk Rapids-rice School District | Sauk Rapids, MN | School District | To Support the Compass Program at the Sauk Rapids Rice School District. | $121,549 |
| City of Wadena | Wadena, MN | Unit of Government | To Support the Building and Operations of the Wellness Center. | $54,270 |
| Sherburne County | Elk River, MN | Unit of Government | To Provide Matching Funds for a Rail Spur Feasibility Analysis That Would Support New or Expanding Businesses in the Becker Industrial Park. | $40,000 |
| Aitkin County Soil and Water Conservation District | Aitkin, MN | Unit of Government | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $36,000 |
| Cass County Soil and Water Conservation District | Walker, MN | Unit of Government | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $35,000 |
| United Way of Central Minnesota | St Cloud, MN | 501(c)(3) | To Support the General Operations and Programs of the Organization. | $35,000 |
| SPORTSMEN'S CLUB OF LAKE VERMILION INC DBA VERMILION LAKE ASSOCIATION | Tower, MN | 501(c)(3) | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $31,775 |
| Carver County Water Management Organization | Chaska, MN | Unit of Government | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $22,000 |
| City of Becker | Becker, MN | Unit of Government | To Provide Support for Preliminary Engineering Report for Becker Industrial Park Transportation Improvements. | $20,000 |
| Mn State Veterans Cemetery Association | Little Falls, MN | 501(c)(3) | TO SUPPORT THE HISTORIC EDUCATIONAL ART PROJECT AT THE MINNESOTA STATE VERERAN'S CEMETERY. | $19,300 |
| Mille Lacs County | Milaca, MN | Unit of Government | To Support Education and Improved Access to Dental Hygiene Services for Low-income Children. | $17,500 |
| Brainerd School District | Brainerd, MN | School District | To Support Early Childhood Literacy and School Readiness | $15,000 |
| City of Melrose | Melrose, MN | Unit of Government | To Create a Fund Managed Locally by the City of Melrose on Behalf of the Melrose Area Women of Today. | $13,687 |
| Carnelian-marine-st Croix Watershed District | Scandia, MN | Unit of Government | To Support Innovative Strategies to Prevent the Spread of Aquatic Invasive Species. | $13,000 |
| United Way of Central Minnesota | St Cloud, MN | 501(c)(3) | To Support Early Childhood Literacy and School Readiness. | $12,000 |
| Lake Region Christian School | Baxter, MN | 501(c)(3) | To Support Scholarships for Students Attending the School and Classroom Enhancements. | $11,398 |
| Mn State Veterans Cemetery Association | Little Falls, MN | 501(c)(3) | TO SUPPORT THE VETERAN'S ART PROJECT AT THE MINNESOTA STATE VETERAN'S CEMETERY. | $11,000 |
| A Place for You | Pine City, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Advocates Against Domestic Abuse | Aitkin, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Anderson Center | St Cloud, MN | 501(c)(3) | To Support the Mission and General Operations of the Organization. | $10,000 |
| Benton Economic Partnership Inc | Foley, MN | 501(c)(3) | To Directly Support Benton County Based Businesses in Creating or Expanding Internship and Apprentice Programs to Help Attract, Retain and Develop Skilled Workforce. | $10,000 |
| Big Lake Community Food Shelf Inc | Big Lake, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Brainerd Lakes Area Economic Development Corporation | Brainerd, MN | 501(c)(3) | To Support the Launch of the Blaedc Unified Fund by Providing Underwriting and Back Office Support to Help Deploy Previously Stagnant Low Interest Lending Funds. | $10,000 |
| Central Lakes College Small Business Development Center (sbdc) | St Cloud, MN | Unit of Government | To Support Consulting Services Which Provide Assistance in Business Plan Development, Loan Application Preparation, Financial Projection Analysis, Market Feasibility Assessments, and Other Guidance to Help Prepare Local Businesses to Grow. | $10,000 |
| Central Minnesota Jobs and Training Services Inc | Monticello, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Conflict Resolution Center | Minneapolis, MN | 501(c)(3) | To Support Mediation Efforts With Mille Lacs County and the Mille Lacs Band of Ojibwe to Resolve Issues Associated With Law Enforcement. | $10,000 |
| Employment Enterprises Inc | Little Falls, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Flight Expo Inc | Princeton, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Greater St Cloud Development Corporation | St Cloud, MN | 501(c)(3) | To Enhance the Job Opportunities and Key Employee Recruitment Capabilities of the Greaterstcloud.com and Jobspot Online Tools. | $10,000 |
| Happy Dancing Turtle | Pine River, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Leech Lake Financial Services | Cass Lake, MN | 501(c)(3) | To Foster Business Creation by Delivering Entrepreneurship Training and Support Services to the Greater Leech Lake Band of Ojibwe Community. | $10,000 |
| Saint Cloud State University | St Cloud, MN | Unit of Government | To Support Early Childhood Literacy and School Readiness. | $10,000 |
| Step | Browerville, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Tri-county Community Action Inc | Little Falls, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $10,000 |
| Elk River School District | Elk River, MN | School District | To Support the Development of a Community Multi-use Space in the District Welcome Center. | $9,550 |
| Northern Technology Initiative Dba Gps 4593 | North Branch, MN | 501(c)(3) | To Facilitate a New Economic Gardening Project and Deliver an Economic Development Board Member Training Pilot Project. | $8,200 |
| Avivo | Minneapolis, MN | 501(c)(3) | To Support the Skills for Success Program (serving Adults) and Focus Forward After-school Elective (serving High School Students). Participants Gain Essential English, Computer, and Business Communication Skills and Employment Services. | $8,000 |
| Nonprofits Assistance Fund | Minneapolis, MN | 501(c)(3) | To Provide Nonprofits Across the Initiative Foundation Service Area Access to a Variety of Financial and Management Training Opportunities. | $8,000 |
| Community Giving | St Cloud, MN | 501(c)(3) | To Support the Sustainability of Quiet Oaks Hospice House, a Residential Hospice Home Providing End of Life Care for Residents and Their Families. | $7,963 |
| City of Wadena | Wadena, MN | Unit of Government | To Support the Development of the Wadena Regional Wellness Center. | $7,883 |
| Wadena County | Wadena, MN | Unit of Government | To Support Early Childhood Literacy and School Readiness. | $7,540 |
| Central Minnesota Community Empowerment Organization | St Joseph, MN | 501(c)(3) | To Provide Capacity Building Support to La Cruz Community Center to Help New Americans Integrate to the Wider St. Cloud Community by Providing Social Services to Assist Families. These Social Services Range From Mentoring and Tutoring for K-12 Students, Summer Youth Engagement Events, and English as a Second Language (esl) Classes to the Parents and Adult Residents. | $7,500 |
| Greater St Cloud Development Corporation | St Cloud, MN | 501(c)(3) | TO SUPPORT THE ORGANIZATION'S PROGRAMS AND ADVANCE ECONOMIC DEVELOPMENT INITIATIVES IN CENTRAL MINNESOTA. | $7,500 |
| Greater St Cloud Development Corporation | St Cloud, MN | 501(c)(3) | To Support Economic Development | $7,500 |
| Greater St Cloud Development Corporation | St Cloud, MN | 501(c)(3) | To Support the Mission and Operations of the Organization. | $7,500 |
| Mille Lacs Health System | Onamia, MN | 501(c)(3) | To Support Early Childhood Literacy and School Readiness. | $7,500 |
| Whitefish Area Property Owners Association | Crosslake, MN | 501(c)(3) | To Support the Testing of Up to 50 Lakes and Streams in the Pine River Watershed. | $7,200 |
| Big Lake School District | Big Lake, MN | School District | To Support Early Childhood Literacy and School Readiness | $7,000 |
| Princeton School District | Princeton, MN | School District | To Support Early Childhood Literacy and School Readiness. | $7,000 |
| Pine River-backus School District | Pine River, MN | School District | To Support Early Childhood Literacy and School Readiness. | $6,500 |
| Catholic Charities of the Diocese of St Cloud | St Cloud, MN | 501(c)(3) | To Support Families in Need After the September Downtown Melrose Fire. | $6,380 |
| Mille Lacs Health System | Onamia, MN | 501(c)(3) | To Support Education and Improved Access to Dental Hygiene Services for Low-income Children. | $6,000 |
| National Joint Powers Alliance | Staples, MN | Unit of Government | To Support the CEO Program (entreprenurial Training) for Staples, Wadena and Pillager School Districts. | $5,981 |
| Longville Area Community Foundation | Longville, MN | 501(c)(3) | To Provide Operating and Grantmaking Support. | $5,850 |
| Little Falls School District | Little Falls, MN | School District | To Support the Little Falls Mentorship Program. | $5,450 |
| Economic Development Authority of the City of St Cloud | St Cloud, MN | Unit of Government | To Deliver Culturally Appropriate Food Safety Training and Technical Assistance to New Immigrant Food Businesses in St. Cloud. | $5,400 |
| Amherst H Wilder Foundation | St Paul, MN | 501(c)(3) | To Provide Annual Support to Minnesota Compass (www.mncompass.org), an Accessible Website That Provides Data and Resources About a Wide Range of Topic Areas . | $5,000 |
| Arc of Mn | St Paul, MN | 501(c)(3) | To Support an Interagency Alliance That Will Provide Self-directed Tools and Assistance to Job Seekers With Significant Disabilities. | $5,000 |
| Baptist General Conference | Sandstone, MN | 501(c)(3) | To Support Young Adults in Pine and Kanabec Counties Through Career Exploration, Academic Mentoring, and Support From Caring Adults. | $5,000 |
| Boys & Girls Club of Central Mn | St Cloud, MN | 501(c)(3) | To Help Club Members of St. Cloud to Develop Skills Essential for Workforce Success, Give Them Opportunities to Explore Various Careers, and Determine the Corresponding Educational Path . | $5,000 |
| Brainerd Lakes Area Chamber of Commerce Education Association | Brainerd, MN | 501(c)(3) | The Bridges Career Institute (bci) Will Identify High School Juniors and Seniors and Match Them for Summer 2017 Employment in Key Sectors. | $5,000 |
| Brainerd Public Schools Foundation | Brainerd, MN | 501(c)(3) | To Support Innovative Classroom Grants in the Brainerd Public Schools. | $5,000 |
| Cambridge Isanti School District | Cambridge, MN | School District | To Support Early Childhood Literacy and School Readiness | $5,000 |
| Career Solutions | St Cloud, MN | Unit of Government | To Recruit and Train Diverse College Students to Serve as Peer Mentors for High School Students Engaged in Career Exploration. | $5,000 |
| Career Solutions | St Cloud, MN | Unit of Government | TO PREPARE INDIVIDUALS WHO FACE ENGLISH LANGUAGE BARRIERS, MANY COMING FROM THE AREA'S LARGE POPULATION OF RESIDENTS WHO HAVE JOINED THE COMMUNITY FROM EAST AFRICA, AND HAVE "AGED OUT" OF HIGH SCHOOL AND ARE UNEMPLOYED, WITH THE SKILLS NEEDED TO FILL POSITIONS IN THE STATE'S MANUFACTURING INDUSTRY. | $5,000 |
| Centracare Health Foundation | St Cloud, MN | 501(c)(3) | To Sponsor the Earth Day Events in St. Cloud. | $5,000 |
| Centracare Health Foundation | St Cloud, MN | 501(c)(3) | To Support the Addition of a Wellness Center in Long Prairie. | $5,000 |
| Central Mn Habitat for Humanity | St Cloud, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $5,000 |
| City of Pequot Lakes | Pequot Lakes, MN | Unit of Government | To Support Community Development. | $5,000 |
| College Possible | St Paul, MN | 501(c)(3) | To Offer a Variety of Virtual and In-person Supports to Help Low-income High School Students Consider and Gain College Admission and Then Remain and Succeed Once There. | $5,000 |
| Community Giving | St Cloud, MN | 501(c)(3) | To Provide Underrepresented Community Members With the Knowledge, Skills and Resources to Become Effective Leaders at the Grassroots Level. | $5,000 |
| Crosby-ironton Public Schools Foundation Dba Cuyuna Lakes Education Foundat | Deerwood, MN | 501(c)(3) | To Provide General Operating Support. | $5,000 |
| Faith in Action for Cass County | Hackensack, MN | 501(c)(3) | To Support Program Evaluation, Review of Community Needs, and Strategic Planning to Encourage Managed Growth and Services That Are Mission-aligned and Coordinated With Other Service Providers and Businesses. | $5,000 |
| Foundation for Essential Needs | Minneapolis, MN | 501(c)(3) | TO SUPPORT EXPANSION OF FFEN'S CAPACITY-BUILDING WORK TO HELP CENTRAL MN FOOD SHELVES PROVIDE MORE AND BETTER SERVICES WHILE POSITIONING THEMSELVES FOR GREATER SUSTAINABILITY IN CASS, CROW WING, KANABEC AND MILLE LACS COUNTIES. | $5,000 |
| Greater St Cloud Development Corporation | St Cloud, MN | 501(c)(3) | To Support the Workplace Well-being Program in the Greater St. Cloud Area. | $5,000 |
| Greater St Cloud Public Safety Foundation | St Cloud, MN | 501(c)(3) | To Support the Mission and Operations of the Organization. | $5,000 |
| Immaculate Conception Church | Pine City, MN | 501(c)(3) | .to Support Early Childhood Literacy and School Readiness. | $5,000 |
| Isanti County | Cambridge, MN | Unit of Government | To Conduct a Robust Multi-partner and County-wide High Speed Internet Access Feasibility Study. | $5,000 |
| Isanti County Historical Society | Cambridge, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $5,000 |
| Lakes Area Habitat for Humanity | Brainerd, MN | 501(c)(3) | To Support a Job Training Program for Recent Graduates of Minnesota Teen Challenge. | $5,000 |
| Metropolitan Economic Development Association (meda) | Minneapolis, MN | 501(c)(3) | To Deliver One-on-one Technical Assistance to Accelerate the Growth Existing Minority-owned Businesses in Central Minnesota. | $5,000 |
| Milestones | Waite Park, MN | 501(c)(3) | To Support Children and Families With an Incarerated Parent. | $5,000 |
| Northfield Area Family Ymca | Northfield, MN | 501(c)(3) | To Support the Facility Expansion. | $5,000 |
| Paws & Claws Animal Shelter | Hackensack, MN | 501(c)(3) | TO ADVANCE GOALS DEVELOPED THROUGH PARTICIPATION IN THE FOUNDATION'S NEXT-STAGE SOCIAL ENTERPRISE TRAINING. | $5,000 |
| Pine City School District | Pine City, MN | School District | To Support Early Childhood Literacy and School Readiness. | $5,000 |
| Pine Habilitation and Supported Employment Inc | Sandstone, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $5,000 |
| Pine River-backus Elementary Parent Teacher Organization | Pine River, MN | 501(c)(3) | To Support the Innovative Schools Classroom Grants Initiative. | $5,000 |
| Pine Technical & Community College | Pine City, MN | 501(c)(3) | To Support the Purchase and Operation of a Mobile Welding Training Lab. | $5,000 |
| Pioneer Elementary Parent Teacher Organization (pto) | Pierz, MN | 501(c)(3) | To Support Innovative Classroom Grants in the Pierz School District. | $5,000 |
| Promise Neighborhood of Central Minnesota | St Cloud, MN | 501(c)(3) | TO IMPROVE ORGANIZATION'S EFFICIENCY AND EFFECTIVENESS THROUGH BOARD TRAINING AND STAFF DEVELOPMENT IN THE AREAS OF PARTNERSHIP AND FUND DEVELOPMENT, VOLUNTEER COORDINATION, AND DATA MANAGEMENT TO SERVE DISADVANTAGED YOUTH IN GREATER ST. CLOUD AREA. | $5,000 |
| Rocori Food Shelf Inc | Cold Spring, MN | 501(c)(3) | To Provide General Operating Support to the Organization. | $5,000 |
| Saint Cloud Area Family Ymca | St Cloud, MN | 501(c)(3) | To Support the Capital Expansion Project. | $5,000 |
| Salem Lutheran Church | Deerwood, MN | 501(c)(3) | To Support Strategic Planning Assistance to Help Salem West Rebuild and Reorganize Most Effectively and Efficiently After the Recent Fire at Their Deerwood Facility. | $5,000 |
| Serveminnesota | Minneapolis, MN | 501(c)(3) | To Support Early Childhood Literacy and School Readiness. | $5,000 |
| Sherburne County Area United Way | Elk River, MN | 501(c)(3) | TO SUPPORT A PLANNING PROCESS TO ASSIST THE ORGANIZATION IN ALIGNING WITH UNITED WAY WORLDWIDE'S STANDARDS AND BECOME ISSUES-FOCUSED. | $5,000 |
| Staples Motley School District | Staples, MN | School District | To Support the Innovative Schools Classroom Grants Initiative. | $5,000 |
| The Leech Lake Band of Ojibwe Reservation Business Committee | Cass Lake, MN | 501(c)(3) | To Support Programming Which Helps Disconnected Youth Ages 16-24 Receive Hands-on Training in Construction, Leading to Their National Center for Construction Education & Research (nccer) Credentials and Obtain High School Diplomas or Geds Leading to Employment And/or Post-secondary Education. | $5,000 |
| The National Loon Center Foundation | Crosslake, MN | 501(c)(3) | To Develop a Sustainable Business Plan for the National Loon Center (nlc). | $5,000 |
| The Yes Network | St Cloud, MN | 501(c)(3) | To Support the I Have a Dream Program That Will Provide Intensive Support to 35 Elementary Students and Their Families Aimed to Improve Long-term Physical and Mental Health Outcomes. | $5,000 |
| Tri-county Action Program Inc | Waite Park, MN | 501(c)(3) | To Support the Volunteer Income Tax Assistance Program That Provides Free Tax Services to Low-income Families in the St. Cloud Area. | $5,000 |
| United Cerebral Palsy of Central Mn | Waite Park, MN | 501(c)(3) | To Support Creation of a Social Enterprise. | $5,000 |
| University of St Thomas | St Paul, MN | 501(c)(3) | To Support Participation of Local Nonprofit Leaders in a Ten-month Cohort Program That Provides Them Opportunities to Increase Leadership Skills and Enhance Organizational Capacity. | $5,000 |
| Upsala Area School District | Upsala, MN | School District | To Support the Innovative Schools Classroom Grants Initiative. | $5,000 |
| Verndale School District | Verndale, MN | School District | To Support the Innovative Schools Classroom Grants Initiative. | $5,000 |
| Volunteers of America of Minnesota | Edina, MN | 501(c)(3) | To Support Transitional Housing and Supportive Case Management for Eight or More Families to Help Them Stabilize Their Living Situations and to Assist Them in Obtaining More Permanent, Affordable Housing. | $5,000 |
| Wadena-deer Creek School District | Wadena, MN | School District | To Support Innovative Classroom Grants in the Wadena-deer Creek Public Schools. | $5,000 |
| Walker-hackensack-akeley School District | Walker, MN | School District | To Support Innovative Classroom Grants in the Walker-hackensack-akeley Schools. | $5,000 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $79,558 |
| Fundraising Direct Expenses | $31,624 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Trcf Golf Event | $36,306 | $25,700 | - | $25,700 |
| Cheers to Morrison County | $27,116 | $23,635 | $4,043 | $19,592 |
| Total Events | $136,642 | $79,558 | $31,624 | $47,934 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Greg Hohlen | Business Finance Committee | Participating Lender With Employer | No | $654,000 |
| Rick Bauerly | Trustee | Gift of Units for Fund | No | $400,204 |
| Rick Bauerly | Trustee | Contributions From Partnership to Partner Fund | No | $300,000 |
| Pat Gorham | Trustee | Participating Lender at Bank With Ownership | No | $227,122 |
| Kim Ellingson | Trustee | Participating Lender With Employer | No | $172,500 |
| Rick Bauerly | Trustee | Equity Investment | No | $50,000 |
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 family members
- No
- Business relationship with organization members
- Yes
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 2
“Rick bauerly and larry korf are initiative foundation trustees. Rick bauerly is a principal owner for granite equity llc and larry korf serves as a board member for dezurik which is a granite owned company.”
Form 990, Part VI, Section B, Line 11B
“The board has delegated review and approval authority for the audit approval and 990 to the investment and audit committee prior to filing. Following committee review and approval, the 990 is provided to the full board for review.”
Form 990, Part VI, Section B, Line 12C
“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 committee 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/commitiee/staff members complete a conflict of interest disclosure form at the beginning of each calendar year or upon appointment.”
Form 990, Part VI, Section B, Line 15
“A compensation study was conducted by an external firm. A review of market compensation for comparable foundations plus other minnesota initiative foundations is conducted annually. A market compensation studies are reviewed from the minnesota council on foundations and council of foundations. Shrm resources are also used along with temp agency compensation wage references.”
Form 990, Part VI, Section C, Line 18
“Upon request. We also produce an annual report that is available for the public.”
Form 990, Part VI, Section C, Line 19
“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.”
Filing and Contact Details
Filer
- Filer Name
- Initiative Foundation
- EIN
- 36-3451562
- Phone
- 3206329255
- Address
- 405 FIRST STREET SE, LITTLE FALLS, MN 56345
Signing Officer
- Name
- Matt Varilek
- Title
- President
- Phone
- 3206329255
- Signed
- 2018-05-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Matt Varilek
- Formed
- 1986
- Legal Domicile
- Mn
- Voting Board Members
- 12
- Independent Board Members
- 12
- Employees
- 39
- Volunteers
- 319
Preparer
- Firm
- SCHLENNER WENNER & CO CPA'S PA
- Address
- PO BOX 1496, ST CLOUD, MN 56302-1496
- Preparer
- Shelley Gaetz
- Phone
- 3202510286
Supplemental Narrative
Financial Statement Notes
PART IV, LINE 2B:
“The foundation holds funds transferred to them from other organizations for investment management purposes. The funds are to be distributed back to these organizations as they request them. The foundation has no variance power over the funds.”
PART V, LINE 4:
“Board designated endowment funds provide program and operating support for the initiative foundation's mission. Specific work donor designated endowment funds develop community resources to enhance the quality of life of individuals and families through various communities in minnesota. Some donor designated endowment funds are also used to provide scholarships for high school students pursuing post secondary education, to award grants that promote various intiatives pursued by the donor, and to support organizations conducting various charitable activities.”
PART X, LINE 2:
“U.s. Gaap requires management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has analyzed the tax positions taken by the organization, and has concluded that as of december 31, 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization believes it is no longer subject to income tax examinations for years prior to 2014.”
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| IRS990/Desc | 0 | LEADERSHIP AND COMMUNITY DEVELOPMENT:EARLY CHILDHOOD INITIATIVE: THE INITIATIVE FOUNDATION SUPPORTS 14 EARLY CHILDHOOD COALITIONS WITHIN ITS 14-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. AFFECTED AREAS INCLUDE BENTON, CASS, CROW WING, KANABEC, MILLE LACS, PINE, TODD AND WADENA COUNTIES. COALITIONS ARE OFFERED A VARIETY OF OPPORTUNITIES TO PARTICIPATE IN STRATEGIC PLANNING SESSIONS, LEADERSHIP TRAINING AND EARLY CHILDHOOD TOPIC SPECIFIC TRAININGS. COALITIONS DRAW FROM DIFFERENT SECTORS OF THE COMMUNITY AND INCLUDE PARTICIPATION FROM PARENTS, BUSINESS LEADERS, EDUCATORS, ELECTED OFFICIALS, EARLY CARE AND EDUCATION PROVIDERS, NONPROFIT ORGANIZATIONS AND HEALTH CARE PROVIDERS. PRIMARY ACTIVITIES FOCUS ON EARLY CHILDHOOD LITERACY, SOCIAL EMOTIONAL ADJUSTMENT AND SCHOOL READINESS. GREATER ST. CLOUD AREA THRIVE COALITION IS ONE OF THE SUPPORTED COMMUNITY COALITIONS. THE COLLABORATIVE WAS DEVELOPED TO PROMOTE THE HEALTHY SOCIAL AND EMOTIONAL DEVELOPMENT OF CHILDREN FROM BIRTH TO AGE 5, WITH AN EMPHASIS ON BIRTH TO AGE 3. THRIVE CURRENTLY OFFERS CO-LEARNING OPPORTUNITIES BETWEEN EARLY CHILDHOOD STAFF AND IMMIGRANT AND REFUGEE PARENTS TO EXPLORE PARENTING CONCERNS. AN EXPANDED WEBSITE INCLUDES RESOURCES ON HEALTHY SOCIAL AND EMOTIONAL DEVELOPMENT AND RESOURCES SPECIFIC TO IMMIGRANT AND REFUGEE FAMILIES. FOUNDATION STAFF PROVIDED TRAINING TO REGIONAL EARLY CHILDHOOD INITIATIVE COORDINATORS ON FUNDRAISING IDEAS TO SUPPORT COALITION GOALS, ADVERSE CHILDHOOD EXPERIENCES (ACES) PROGRAMMING, AMERICORPS VISTA OPPORTUNITIES, SCHOLASTIC BOOKS PURCHASING OPPORTUNITIES AND UPDATES ON THE EARLY CHILDHOOD DENTAL NETWORK. IN 2017, THE INITIATIVE FOUNDATION MADE EARLY CHILDHOOD GRANT AWARDS TOTALING $102,000. OUR EARLY CHILDHOOD DENTAL NETWORK (ECDN) CAVITY FREE BIRTH TO AGE 5 PROGRAM SUPPORTED LOCAL PROJECTS THAT PROVIDE DENTAL HYGIENE, CAVITY PREVENTION AND DENTAL TREATMENT FOR CHILDREN IN POVERTY IN MILLE LACS COUNTY. THE FOUNDATION ALSO IS WORKING WITH CENTRAL LAKES COMMUNITY COLLEGE IN BRAINERD AND ST. CLOUD TECHNICAL AND COMMUNITY COLLEGE TO SUPPORT RECRUITMENT, RETENTION, GRADUATION AND PLACEMENT OF DIVERSE STUDENTS IN DENTAL HYGIENE CAREERS. IN 2017, THE INITIATIVE FOUNDATION MADE EARLY CHILDHOOD DENTAL GRANT AWARDS TOTALING $25,000.THRIVING COMMUNITIES INITIATIVE (TCI): INITIATIVE FOUNDATION STAFF CONTINUED THEIR SUPPORT OF TCI COMMUNITIES OF EMILY, FIFTY LAKES, STAPLES, MELROSE, CAMBRIDGE AND PEQUOT LAKES. FOUNDATION STAFF PROVIDED TECHNICAL ASSISTANCE TO SEVERAL DOZEN COMMUNITIES ON ISSUES RANGING FROM WORKFORCE DEVELOPMENT, FINANCING FOR COMMUNITY FACILITIES, TRAILS DEVELOPMENT AND LOCAL FOODS. STAFF CONTINUED WORK ON THE SHERBURNE COUNTY VISION PROJECT (SHERVISION) BY SUPPORTING THE DEVELOPMENT OF A NEW COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS). THIRTY-SEVEN COMMUNITY LEADERS PARTICIPATED IN A SERIES OF THREE WORKSHOPS AND NOW HAVE ADDITIONAL SKILLS TO SERVE THEIR COMMUNITY BY RECRUITING NEW AND EMERGING LEADERS. IN 2017, THE INITIATIVE FOUNDATION MADE COMMUNITY DEVELOPMENT GRANT AWARDS TOTALING $37,895.NONPROFIT ORGANIZATIONAL DEVELOPMENT (NPOD): INITIATIVE FOUNDATION STAFF LED ITS SIXTH COHORT OF NONPROFITS PARTICIPATING IN THE FOUNDATION'S FINANCIAL RESILIENCY THROUGH SOCIAL ENTERPRISE (FRSE) PROGRAM AND A MORE ADVANCED 2.0 VERSION FOR PREVIOUS GRADUATES OF THE PROGRAM. WITH GUIDANCE AND SUPPORT FROM FOUNDATION STAFF, THE NONPROFITS ASSISTANCE FUND AND BUSINESS AND MARKETING CONSULTANTS, 16 ORGANIZATIONS (59 DIFFERENT INDIVIDUALS) PARTICIPATED IN THESE TWO, YEAR-LONG PROGRAMS AND CREATED COMPREHENSIVE BUSINESS PLANS TO ADVANCE AN EARNED-INCOME SOCIAL ENTERPRISE. FOUNDATION STAFF AND CONSULTANTS ALSO INVESTED TIME AND ENERGY IN FACILITATING FOUR LEADERS CIRCLES FOR NONPROFITS (ONE IN BRAINERD, THREE IN ST. CLOUD). THIS INCLUDED 15 EXECUTIVE DIRECTORS AND SIX PROGRAM-LEVEL STAFF MEMBERS. THESE PEER-COAC |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | TRUSTEE/VICE-CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | TRUSTEE/CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | COO/CFO/TREASURER |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/Form990TFiledInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1986 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 1 |
| IRS990/FundraisingAmt | 0 | 57084 |
| IRS990/FundraisingDirectExpensesAmt | 0 | 31624 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 79558 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 6430 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 757560 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 12 |
| IRS990/GovernmentGrantsAmt | 0 | 1033199 |
| IRS990/GrantAmt | 0 | 2325661 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 618002 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 1549922 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 369219 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 369219 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 3248553 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 3248553 |
| IRS990/GrantsToIndividualsInd | 0 | 1 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 11679 |
| IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt | 0 | 12007771 |
| IRS990/GrossReceiptsAmt | 0 | 19927436 |
| IRS990/GrossRentsGrp/RealAmt | 0 | 5620 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 12 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 4 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/FundraisingAmt | 0 | 17030 |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 36587 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 58491 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 112108 |
| IRS990/InsuranceGrp/FundraisingAmt | 0 | 898 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 1536 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 2292 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 4726 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 36806 |
| IRS990/InterestGrp/TotalAmt | 0 | 36806 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1085966 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1085966 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 3459778 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 4287704 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 45920475 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 54806354 |
| IRS990/IRPDocumentCnt | 0 | 58 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 1203872 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 1899798 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 1801542 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 3005414 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 5249 |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 11250211 |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 0 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO EMPOWER PEOPLE TO BUILD THRIVING COMMUNITIES AND A VIBRANT REGION ACROSS CENTRAL MINNESOTA. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 1475251 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 1356755 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 59079332 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 66560368 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 763990 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 763990 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 47934 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 47934 |
| IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5620 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 5620 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 6164395 |
| IRS990/NoncashContributionsAmt | 0 | 3793 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/FundraisingAmt | 0 | 15864 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 27142 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 40496 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 83502 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 18013 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 25290 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 35707 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 79010 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt | 0 | 43117 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 74083 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 104580 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 221780 |
| IRS990/OtherExpensesGrp/Desc | 0 | ALL OTHER EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 1 | BAD DEBTS |
| IRS990/OtherExpensesGrp/Desc | 2 | MEMBERSHIPS/SPONSORSHIP |
| IRS990/OtherExpensesGrp/Desc | 3 | VOLUNTEER TRAVEL & TRAI |
| IRS990/OtherExpensesGrp/FundraisingAmt | 0 | 7149 |
| IRS990/OtherExpensesGrp/FundraisingAmt | 1 | 998 |
| IRS990/OtherExpensesGrp/FundraisingAmt | 2 | 2485 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 51347 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 6568 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 274359 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 144543 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 7533 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 12334 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 332855 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 145541 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 16586 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 12334 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 102 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 0 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 541860 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | ADVERTISING |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | OTHER INCOME |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 5244 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 101267 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 5244 |
| IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt | 0 | 101267 |
| IRS990/OtherRevenueTotalAmt | 0 | 106511 |
| IRS990/OtherSalariesAndWagesGrp/FundraisingAmt | 0 | 264955 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 481488 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 836981 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 1583424 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 8282395 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 8556234 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 22963 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 43038 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 67705 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 133706 |
| IRS990/PensionPlanContributionsGrp/FundraisingAmt | 0 | 10903 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 18628 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 38241 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 67772 |
| IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt | 0 | 20646558 |
| IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt | 0 | 21235697 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 875663 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 1086081 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 49138 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 78934 |
| IRS990/PrincipalOfficerNm | 0 | MATT VARILEK |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522100 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | REVOLVING LOAN INTEREST |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | EVENTS AND WORKSHOP REGISTRATIONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | LOAN ADMIN FEE |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 571930 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 55925 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 24960 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 571930 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 55925 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 24960 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | ECONOMIC DEVELOPMENT/BUSINESS LENDING:ECONOMIC DEVELOPMENT: THE INITIATIVE FOUNDATION PROVIDED $2.68 MILLION TO FUND NEW LOANS AND INVESTMENTS DURING 2017. THE EFFORT LEVERAGED $45.2 MILLION FROM PRIVATE SOURCES. WE ESTIMATE THAT THIS VOLUME OF LOANS CONTRIBUTED SIGNIFICANTLY TO THE CREATION OF 75 JOBS AND THE RETENTION OF 67 JOBS. WE CONTINUED TO PROVIDE SUPPORT TO ENSURE THAT OUR ENTIRE REGION HAS ACCESS TO MICRO-LENDING PROGRAMS THROUGH PARTNERS THAT INCLUDE REGION 5 DEVELOPMENT COMMISSION, SOUTHWEST INITIATIVE FOUNDATION AND ST. CLOUD STATE UNIVERSITY. WE MAINTAIN FUNDING AND REFERRAL RELATIONSHIPS WITH THE SMALL BUSINESS DEVELOPMENT CENTERS LOCATED IN OUR REGION. THE ECONOMIC DEVELOPMENT TEAM CONTINUED TO MEET WITH A WORKGROUP CREATE A BUSINESS SUPPORT MODEL TO BETTER SERVE NEW AMERICAN ENTREPRENEURS, WITH AN INITIAL FOCUS ON EAST AFRICANS BASED IN ST. CLOUD. ENTERPRISE ACADEMY WILL SERVE AN INITIAL CLASS OF ENTREPRENEURS IN FEBRUARY 2018.FOCUSED OUTREACH WITH COMMUNITY BANKS, CHAMBERS OF COMMERCE AND VOLUNTEER BUSINESS GROUPS THROUGH OUR THRIVING COMMUNITIES INITIATIVE (TCI) REMAINS A PRIORITY TO INCREASE LOAN DEAL FLOW IN ALL COMMUNITIES. WE ALSO FOCUSED ON PARTNERSHIPS AND CAPACITY BUILDING FOR LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS. SUPPORT INCLUDED STRATEGIC PLANNING, LINKING TO OTHER FUNDERS AND JOB CREATION OPPORTUNITIES, CHALLENGE GRANTS TO SPUR MEMBERSHIP GROWTH, AND DEVELOPMENT OF TECHNOLOGY TOOLS AND/OR PROGRAMS TO DEVELOP, ATTRACT AND RETAIN SKILLED WORKERS. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 391502 |
| IRS990/ProgSrvcAccomActy2Grp/GrantAmt | 0 | 199850 |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 596890 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | COMMUNICATIONS & IQ MAGAZINE:MARKETING AND COMMUNICATIONS: THE FOUNDATION IN 2017 PUBLISHED FOUR EDITIONS OF INITIATIVE QUARTERLY (IQ) MAGAZINE. CIRCULATION FOR THE YEAR AVERAGED 13,500 PER EDITION (AGAINST A 15,000 GOAL) WITH AN ESTIMATED "PASS-ALONG" READERSHIP OF UP TO 60,000. IQ ADVERTISING SALES CONTINUE ON AN UPWARD TREND WITH A RENEWED EMPHASIS ON PUBLISHING CONSISTENCY AND NEW BUSINESS DEVELOPMENT. THE INITIATIVE FOUNDATION WEBSITE AT IFOUND.ORG SAW AN AVERAGE OF 5,130 UNIQUE PAGE VIEWS EACH MONTH AGAINST A GOAL OF 2,740. MORE THAN 62,200 INDIVIDUALS RECEIVED INFORMATION THROUGH EMAIL MARKETING. THE FOUNDATION IN 2017 ALSO SAW A 25 PERCENT INCREASE IN SOCIAL MEDIA FOLLOWING ACROSS ALL PLATFORMS (FACEBOOK, TWITTER, LINKEDIN, INSTAGRAM, PINTEREST) AND PUBLISHED 19 NEWS RELEASES AGAINST A GOAL OF 24, RESULTING IN 361 STORIES/MENTIONS-TRANSLATING TO 4.4 MILLION IMPRESSIONS. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 505155 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | ADMINISTRATIVE:THE FOUNDATION'S FINANCIAL POSITION IS STRONG. THE ORGANIZATION'S ENDOWMENT SURPASSED $50 MILLION THIS YEAR WHILE THE LENDING PORTFOLIO NEARED $15 MILLION. DURING THE PAST FIVE YEARS, NET ASSETS HAVE GROWN FROM $50.3 MILLION TO $66.6 MILLION. ENDOWED ASSETS INCLUDE $10 MILLION ASSOCIATED WITH DESIGNATED COMPONENT FUNDS AND $42 MILLION OF GENERAL ASSET ENDOWMENT ASSETS.THE FOUNDATION'S SPENDING POLICY GUIDES ENDOWMENT USE. AN ALLOCATION OF 5 PERCENT IS DRAWN FROM GENERAL ENDOWMENT EACH YEAR TO SUPPORT PROGRAMS AND OPERATIONS. CURRENTLY, THIS AMOUNT IS $1.9 MILLION OF THE $6 MILLION ANNUAL BUDGET (WHICH EXCLUDES LOAN ACTIVITY). OTHER SIGNIFICANT FUNDING SOURCES ARE PROVIDED BY MCKNIGHT FOUNDATION ($1 MILLION ANNUALLY) AND OTHER FOUNDATION, STATE AND FEDERAL GRANTS, ALONG WITH A SMALL AMOUNT OF EARNED INCOME. THE FOUNDATION ENDED 2017 AT 121 PERCENT OF BUDGET FOR TOTAL SOURCES OF FUNDS AND 102% FOR TOTAL USES OF FUNDS. INVESTMENT RETURNS WERE STRONG (16%). THE INITIATIVE FOUNDATION CONTINUES TO SEEK GRANT FUNDING RESOURCES FROM A VARIETY OF PUBLIC AND PRIVATE ENTITIES FOR PROGRAM SUPPORT AND OPERATIONS. |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 0 | 1483692 |
| IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt | 0 | 1092261 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 0 | 5620 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 4208565 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $74,000,813
- Liabilities
- $7,440,445
- Net assets
- $66,560,368
- Revenue
- $8,640,352
- Expenses
- $7,323,711
- Net income
- $1,316,641