Liabilities / Assets
79th percentile
Higher debt load relative to assets than 79% of similar nonprofits.
Nonprofits Assistance Fund
990 • Fiscal year 2019 • EIN 41-1916337
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.64x
Liabilities / Revenue
90th percentile
Higher debt load relative to revenue than 90% of similar nonprofits.
Net Margin
65th percentile
Higher net margin than 65% of similar nonprofits.
Top Officer Pay
62nd percentile
Higher top officer pay than 62% of similar nonprofits.
Top officer pay equals 3.7% of source-year revenue.
Asset Growth
83rd percentile
Faster asset growth than 83% of similar nonprofits.
Revenue Growth
87th percentile
Faster revenue growth than 87% of similar nonprofits.
Balance Sheet
Assets
Up$38,277,659
Up $6,152,491 (+19%) from 2018
Net Assets
Up$13,698,112
Up $668,222 (+5.1%) from 2018
Liabilities
Up$24,579,547
Up $5,484,269 (+29%) from 2018
Revenue And Expenses
Revenue
Up$8,147,322
Up $2,024,249 (+33%) from 2018
Expenses
Up$7,479,100
Up $516,208 (+7.4%) from 2018
Net Income
Up$668,222
Up $1,508,041 (+180%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Apr 1, 2018 to Mar 31, 2019
- Signed
- Feb 10, 2020
- Return Version
- 2018v3.0
- Gross Receipts
- $8,147,322
Mission and Program Overview
Mission
The mission of propel nonprofits is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital. Propel nonprofits provides loans to nonprofits for facilities and working capital. We train nonprofit staff and boards to understand and build financial health, clear strategy, and strong governance practices. We provide expert knowledge, guidance, and insight for nonprofits about governance, planning, financial strategy, and sustainability.we consult and guide on strategy, organizational structure and financial plans, strategic alliances, and governance. We offer nonprofit accounting services and financial systems review. We provide fiscal sponsorship and support for emerging organizations and collaborations.
Our mission is to fuel the impact and effectiveness of nonprofits with guidance, expertise and capital. Propel Nonprofits provides loans to nonprofits for facilities and working capital. See Schedule O for more information.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $21,876,252 | $28,809,732 | ▲ $6,933,480 |
| Cash and Non-Interest-Bearing Accounts | $4,896,631 | $4,432,280 | ▼ $464,351 |
| Savings and Temporary Cash Investments | $1,980,395 | $1,744,312 | ▼ $236,083 |
| Investments Other Securities | $393,993 | $1,195,015 | ▲ $801,022 |
| Land, Buildings, and Equipment, Net | $1,077,752 | $946,451 | ▼ $131,301 |
| Pledges and Grants Receivable | $1,488,089 | $875,212 | ▼ $612,877 |
| Accounts Receivable | $260,015 | $124,613 | ▼ $135,402 |
| Prepaid Expenses and Deferred Charges | $91,230 | $89,233 | ▼ $1,997 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Program Related | $0 | - | - |
| Investments in Publicly Traded Securities | $0 | $0 | → $0 |
| Intangible Assets | $0 | - | - |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | - | - |
| Total Assets | $32,125,168 | $38,277,659 | ▲ $6,152,491 |
| Other Assets Total | $60,811 | $60,811 | → $0 |
| Liabilities | |||
| Unsecured Notes Loans Payable | $17,367,647 | $22,749,850 | ▲ $5,382,203 |
| Escrow Account Liability | $996,490 | $1,133,696 | ▲ $137,206 |
| Accounts Payable and Accrued Expenses | $722,266 | $685,326 | ▼ $36,940 |
| Deferred Revenue | $8,875 | $10,675 | ▲ $1,800 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | - | - |
| Other Liabilities | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $19,095,278 | $24,579,547 | ▲ $5,484,269 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $10,519,354 | $11,008,914 | ▲ $489,560 |
| Temporarily Rstr Net Assets | $2,510,536 | $2,689,198 | ▲ $178,662 |
| Permanently Rstr Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $13,029,890 | $13,698,112 | ▲ $668,222 |
| Total Liabilities and Net Assets / Fund Balance | $32,125,168 | $38,277,659 | ▲ $6,152,491 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $455,894 | $378,002 | $833,896 |
| Leasehold Improvements | $490,557 | $96,372 | $586,929 |
| Buildings | $0 | $0 | $0 |
| Other Land Buildings | $0 | $0 | $0 |
| Land | $0 | - | $0 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Kate Barr | President and CEO | FT | $162,800 | $30,518 | $193,318 |
| Janet Ogden-Brackett | Vice President of Lending | FT | $111,814 | $25,579 | $137,393 |
| Curtis Klotz | Vice President of Finance & Chief Financial Officer | FT | $106,730 | $15,572 | $122,302 |
| Keven Ambrus | Vice President of Finance & Chief Financial Officer | FT | $6,519 | $7,659 | $14,178 |
Board Members and Trustees
| Name | Title |
|---|---|
| Greg Zeller | Chairperson |
| Sean Kershaw | Vice-Chairperson |
| Bo Thao-Urabe | Board Member |
| Brad Kruse | Board Member |
| Courtney Colby | Board Member |
| David Mitchell | Board Member |
| Diane Tran | Board Member |
| Gary Taverna | Board Member |
| Heidi Christianson | Board Member |
| Jean Adams | Board Member |
| Magui Rubalcava Shulman | Board Member |
| Marcus Owens | Board Member |
| Patty Pannkuk | Board Member |
| Paul Babcock | Board Member |
| Scott Marquardt | Board Member |
| Sony Malhotra | Board Member |
| Sarah Clyne | Secretary |
| Beth Topoluk | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,598,397
- Program Service Revenue
- $2,523,581
- Investment Income
- $25,344
- Other Revenue
- $0
- All Other Contributions
- $4,099,546
- Change in Net Assets
- $668,222
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $8,147,322
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Other Revenue Adjustments
- $0
- Total Revenue per Audited Statements
- $8,147,322
- Total Revenue per Form 990
- $8,147,322
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $3,460,388 |
| Salaries, Compensation, and Employee Benefits | $2,592,839 |
| Other Expenses | $1,425,873 |
| Total Fundraising Expense | $126,576 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $3,460,388 | - | - | $3,460,388 |
| Other Salaries and Wages | $1,299,187 | $227,312 | $68,287 | $1,594,786 |
| Current Officers, Directors, Trustees, and Key Employees | $287,466 | $199,977 | $9,294 | $496,737 |
| Interest | $428,139 | $0 | $0 | $428,139 |
| Other Employee Benefits | $195,791 | $40,668 | $15,095 | $251,554 |
| Occupancy | $152,784 | $40,413 | $7,532 | $200,729 |
| Depreciation Depletion | $155,033 | $37,358 | $7,217 | $199,608 |
| Payroll Taxes | $123,932 | $40,233 | $5,857 | $170,022 |
| Fees for Services Other | $104,344 | $53,475 | $0 | $157,819 |
| Pension Plan Contributions | $64,960 | $11,366 | $3,414 | $79,740 |
| Information Technology | $59,978 | $15,272 | $2,929 | $78,179 |
| Office Expenses | $46,889 | $28,625 | $1,922 | $77,436 |
| Travel | $30,876 | $2,769 | $2,200 | $35,845 |
| Advertising | $27,208 | $180 | $957 | $28,345 |
| Fees for Services Accounting | $343 | $27,592 | $0 | $27,935 |
| Conferences and Meetings | $21,362 | $4,653 | $1,587 | $27,602 |
| Fees for Services Management | $1,319 | $17,502 | $0 | $18,821 |
| Insurance | $6,089 | $5,338 | $285 | $11,712 |
| Other Expenses | $8,115 | $25 | $0 | $8,140 |
| Fees for Services Legal | $2,588 | $4,078 | $0 | $6,666 |
| Total Functional Expenses | $6,595,688 | $756,836 | $126,576 | $7,479,100 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $7,479,100 |
| Total Expenses per Audited Statements | $7,479,100 |
| Total Expenses per Form 990 | $7,479,100 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Other Expense Adjustments | $0 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Quality Education Services of MN Inc | Minneapolis, MN | - | Quality Education Services of MN's mission is a just society where all children have an equal opportunity to succeed and older adults are valued. | $381,935 |
| Tanka Fund | Kyle, SD | - | Our mission is to return buffalo to Native American lands, lives and economies. | $322,396 |
| Foster Advocates | Saint Paul, MN | 501c3 | We foster advocacy, policy change, and organizing by partnering with current/former foster youth and impacted communities. | $204,275 |
| Reviving the Islamic Sisterhood for Empowerment | Minneapolis, MN | - | Reviving the Islamic Sisterhood for Empowerment is on a mission to amplify the voice and power of Muslim women. | $196,259 |
| Parents Radically Organized | Saint Paul, MN | 501c3 | Empower low-income parents and parents of color to advocate for high-quality education for their children. | $170,000 |
| Minnesota Indigenous Business Alliance | Saint Paul, MN | 501c3 | Align partners and communities committed to the growth and success of native-owned businesses, entrepreneurs and artisans. Connect native-owned businesses, entrepreneurs, artisans to resources and providers that offer equitable access, are innovative and understand native business and communities. | $114,017 |
| Project Imprintz | Minneapolis, MN | 501c3 | Offering a creative way to bring art to children with life-limiting illnesses, whose lives can be limited to home and hospital. We will offer them an expressive respite from the day to day challenges while providing an opportunity to create a legacy gift for/with their families. | $109,118 |
| Penumbra Theatre Company TCTOCC | Saint Paul, MN | 501c3 | TCTOCC was founded in 2014 to build knowledge, capacity, and to take responsible action around the challenges and opportunities of diversification in the contemporary theatre landscape. | $86,000 |
| Minnesota Host Home Network dba CloseKnit | Minneapolis, MN | 501c3 | We catalyze system change for youth facing homelessness by championing lasting relationships with the caring adults already in their lives who are not their service providers. | $85,488 |
| Break the Silence | Saint Paul, MN | 501c3 | The mission of Break the Silence is to end rape culture, hold perpetrators accountable, and support survivors of sexual violence in healing. | $83,341 |
| Community Health Fund | Robbinsdale, MN | 501c3 | Community Health Fund 2020's unique model builds capacity for its member clinics to serve their individual communities while creating a unified voice for the work of community clinics in the Twin Cities metro area. This model allows for CHF 2020 to raise general operating funds for all 13 clinics, allowing in-house development efforts to remain focused on program excellence. | $80,537 |
| New Native Theatre TCTOCC | Saint Paul, MN | 501c3 | TCTOCC was founded in 2014 to build knowledge, capacity, and to take responsible action around the challenges and opportunities of diversification in the contemporary theatre landscape. | $61,000 |
| Pangea World Theatre TCTOCC | Minneapolis, MN | 501c3 | TCTOCC was founded in 2014 to build knowledge, capacity, and to take responsible action around the challenges and opportunities of diversification in the contemporary theatre landscape. | $61,000 |
| Teatro Del Pueblo TCTOCC | Saint Paul, MN | - | TCTOCC was founded in 2014 to build knowledge, capacity, and to take responsible action around the challenges and opportunities of diversification in the contemporary theatre landscape. | $61,000 |
| Theater Mu Inc TCTOCC | Saint Paul, MN | - | TCTOCC was founded in 2014 to build knowledge, capacity, and to take responsible action around the challenges and opportunities of diversification in the contemporary theatre landscape. | $61,000 |
| Family Freedom Center | Duluth, MN | 501c3 | Family Freedom Center seeks to empower the Black community by reconstructing socio-cultural narratives and unapologetically embracing what it means to be Black, both historically and present day. | $51,010 |
| Green Card Voices | Minneapolis, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $46,204 |
| Irreducible Grace Foundation | Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $46,011 |
| Somali Family Life Center | Minneapolis, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant - Fiscal Sponsor for MN Minority Childcare Association | $45,907 |
| Dream Of Wild Health | Minneapolis, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $44,570 |
| Juxtaposition Arts Inc | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $39,667 |
| Pillsbury United Communities | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $39,667 |
| Community Dialogues with Multicultural Elders | Saint Paul, MN | 501c3 | To provide a powerful voice for elders to inform the community about their interests, needs and priorities and to explore how to advocate for those interests. | $38,245 |
| Mentoring Young Adults | Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $37,200 |
| Theater Mu Inc | Saint Paul, MN | - | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $36,333 |
| Hispanic Advocacy & Community Empowerment | Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $36,212 |
| Monarch Joint Venture | Henderson, MN | 501c3 | The Monarch Joint Venture serves a broad constituency of partner organizations and the general public to advance the science, education, and habitat conservation actions to benefit monarch butterflies and other pollinators. | $36,152 |
| Propel Nonprofits | Minneapolis, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant - Fiscal Sponsor for MN Indian Business Alliance | $35,506 |
| Cultural Diversity Resources | Fargo, ND | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $34,663 |
| WE WIN Institute Inc | Minneapolis, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $34,605 |
| Somali Community Resettlement Svcs | Faribault, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $33,740 |
| Anew Bam | Roseville, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $33,546 |
| ZTP dba zAmya Theater Project | Minneapolis, MN | - | Advocate for and dignify individuals experiencing homelessness through engaging those individuals in theatre. | $32,505 |
| Discapacitados Abriendose Caminos | South Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $30,927 |
| Lao Assistance Center Of MN | Minneapolis, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $30,498 |
| Family Values For Life | Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $30,023 |
| Solutions Not Suspensions Coalition | Minneapolis, MN | - | A coalition of individuals and organizations committed to ending the school to prison pipeline and exclusionary discipline practices. | $30,000 |
| La Oportunidad | Minneapolis, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $27,327 |
| Penumbra Theatre Company | Saint Paul, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $26,333 |
| Walker West Music Academy | Saint Paul, MN | - | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $26,333 |
| Somali American Community - KALY Radio | Minneapolis, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $26,000 |
| Mewinzha Ondaadiziike Wiigaming | Bemidji, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $25,696 |
| Partnerships for Permanence | Minneapolis, MN | 501c3 | Our mission of raising awareness and actively working to improve the child welfare system. | $25,150 |
| Black Men Teach | Minneapolis, MN | 501c3 | OUR MISSION is to improve academic success and life outcomes for black male elementary school students by building strategic community partnerships that create the environment and conditions where black male teachers can thrive. | $24,025 |
| Hallie Q Brown Community Center | Saint Paul, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $23,000 |
| Springboard For The Arts | Saint Paul, MN | - | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant - Fiscal Sponsor for Public Functionary | $20,810 |
| In the Heart of the Beast | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $20,000 |
| One Minnesota Org | Minneapolis, MN | 501c3 | Civic engagement and empowerment of Minnesotans to establish mutual prosperity and a shared vision towards racial equity and social, and economic inclusion. | $19,700 |
| Coffee House Press | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $19,667 |
| Illusion Theatre And School Inc | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $19,667 |
| The Works | Bloomington, MN | - | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $19,667 |
| Minnesota Fringe Festival | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $16,333 |
| Manidoo Ogitigaan | Bemidji, MN | 501c3 | The mission of Manidoo Ogitigaan is to work with the community to preserve and revitalize the knowledge, language, culture, and ceremonies of the Anishinaabeg to improve our health and the health of our ecological family. | $15,790 |
| Young Muslim Collective | Minneapolis, MN | - | By creating a space of engagement, Young Muslim Collective's mission is to aid Muslim youth who are subjected to racism and faith-based hate by promoting arts, healing, activism, outreach, and advocacy. | $14,615 |
| MacRostie Art Center | Grand Rapids, MN | 501c3 | Loan forgiveness through the Equity Builder Loan Program and Social Enterprise Grant | $13,333 |
| New York Mills Arts Retreat | New York Mills, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant | $13,000 |
| Park Square Theatre | Saint Paul, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant | $13,000 |
| TU Dance | Saint Paul, MN | - | Loan Fund Equity Builder Infrastructure Grant | $13,000 |
| Global Shapers Minneapolis Hub | Minneapolis, MN | 501c3 | The Minneapolis Global Shapers are a bridge between those who lead change and those who wish to; Minneapolis Global Shapers are a bridge between those whose voices are powerful and those whose voices are under-represented. | $12,000 |
| Ka Joog Nonprofit Organization | Minneapolis, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant | $12,000 |
| Minneapolis Foundation | Minneapolis, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant - Fiscal Sponsor for LatinoLEAD | $11,667 |
| Soo Visual Arts Center | Minneapolis, MN | - | Loan Fund Equity Builder Infrastructure Grant and loan forgiveness through the Equity Builder Loan Program | $11,467 |
| Cycling Without Age Twin Cities | Saint Paul, MN | 501c3 | The right to wind in your hair. Offers recreational mobility to seniors, in the form of volunteer-piloted trishaw rides. | $11,000 |
| Dave Alderson | Minneapolis, MN | 501c3 | Completing a Bush Foundation Community Innovation Grant around early childhood education specific to Friends, Family, and Neighbor providers in the Cedar Riverside/West Bank neighborhood of Minneapolis. | $10,000 |
| ElderCircle | Grand Rapids, MN | 501c3 | Social Enterprise Grant | $10,000 |
| Kootasca Community Action | Grand Rapids, MN | 501c3 | Social Enterprise Grant | $10,000 |
| Commonweal Theatre Company | Lanesboro, MN | 501c3 | Loan Fund Equity Builder Infrastructure Grant | $9,055 |
| The Cedar Cultural Center Inc | Minneapolis, MN | - | Loan Fund Equity Builder Infrastructure Grant | $7,773 |
| Gutter Punk Coffee | Minneapolis, MN | 501c3 | Partnering with homeless youth to exit street-life through a supportive environment, gainful employment and positive relationships by establishing a sustainable, employee-focused coffee enterprise. | $7,579 |
| Film North | Saint Paul, MN | 501c3 | Loan forgiveness through Equity Builder Loan Program | $6,667 |
| Hnub Tshiab Hmong Women Achieving Together | Saint Paul, MN | 501c3 | Nonprofit Infrastructure Grant Program (NIGP) - Capacity Building Grant | $6,318 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | - | - |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $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 family members
- No
- Business relationship with organization members
- No
- 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
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 2
“- Kate Barr, President and CEO of Propel Nonprofits, is a board of Borealis Philanthropy, a nonprofit philanthropic intermediary organization whose CEO, Magui Rubalcava Shulman, is a board member of Propel Nonprofits.”
Form 990, Part VI, Section A, Line 7A
“- Board members of Propel Nonprofits are recruited and selected by the board of Propel Nonprofits. In an arrangement that represents its historical origins and its current corporate structure as a subsidiary, a bare majority of the Propel Nonprofits board members are presented to and formally elected by the Board of Trustees of The Minneapolis Foundation.”
Form 990, Part VI, Section A, Line 7B
“- Given that Propel Nonprofits is a subsidiary organization of The Minneapolis Foundation, and according to the bylaws of Propel Nonprofits, the Board of Trustees of The Minneapolis Foundation may at any time remove a director of the board of Propel Nonprofits that The Minneapolis Foundation has elected to the Propel Nonprofits board. The Board of Trustees of The Minneapolis Foundation may also appoint a director to fill any vacancy of a Propel Nonprofits board member formally elected by The Minneapolis Foundation in the event of a vacancy caused by death, resignation, or removal.”
Form 990, Part VI, Section B, Line 11B
“- The audited financial statements on which the Form 990 is based, are presented to the Finance Committee in June by the auditors. The 990 is prepared by the Vice President of Finance and CFO based on the audited financial statements. The 990 is then reviewed by the Finance Committee and President and CEO. The 990 is distributed to the board of directors before it is filed by its deadline.”
Form 990, Part VI, Section B, Line 12C
“- Propel Nonprofits' Conflict of Interest Policy is reviewed annually by all employees and board members. Each Staff member is required to disclose any dualities of interest in writing. Ne employees and board members review the policy and disclose any dualities of interest in writing upon first joining the staff or board. In the course of business, if and when a relevant duality of interest arises, the employee or board member disclosed it verbally and is recused from any decision making role related to the dual interest.”
Form 990, Part VI, Section B, Line 15
“- The executive committee of the Propel Nonprofits' board of directors is responsible for reviewing annually the performance and salary of the president and CEO. Based on the review, the committee determines compensation for the president and CEO. In its salary determination, the committee engages an HR compensation consultant, considers salaries of CEO's in peer organizations with comparable experience, consults survey data of nonprofit executives, and reviews the history of the president and CEO's compensation. The president and CEO's salary was last reviewed in Fall 2018. No changes to the president and CEO's salary have occurred since that time.”
Form 990, Part VI, Section C, Line 19
“- Propel Nonprofits makes its governing documents and conflict of interest policy available to anyone upon request. Propel Nonprofits' governing documents include its articles of incorporation, bylaws, and IRS Form 1023. Propel Nonprofits financial statements, annual reports, and quarterly investor reports are available to the public via its website. Propel Nonprofits financial statements include its audited financial statements, single audit (when required), and IRS Form 990 including schedules and attachments.”
Form 990, Part VII, Section A, Line 1A
“- Jean Adams, Senior Vice President, Strategy and Chief Operating Officer of The Minneapolis Foundation, serves on the Propel Nonprofits board of Directors. Because Propel Nonprofits is a subsidiary of The Minneapolis Foundation, Ms. Adams compensation by The Minneapolis Foundation is listed here as that of a related organization.”
Filing and Contact Details
Filer
- Filer Name
- Propel Nonprofits
- EIN
- 41-1916337
- Phone
- 6122496700
- Address
- 1 SE Main ST STE 600, Minneapolis, MN 55414
Signing Officer
- Name
- Kate Barr
- Title
- President
- Phone
- 6122496696
- Signed
- 2020-02-10
Organization Details
- Principal Officer
- Kate Barr
- Formed
- 1998
- Legal Domicile
- Mn
- Voting Board Members
- 18
- Independent Board Members
- 17
- Employees
- 38
- Volunteers
- 25
Supplemental Narrative
Additional Explanations
Form 990, Part I, Line 1
“- (continued from Part I, Line 1) Propel Nonprofits provides loans to nonprofits for facilities and working capital. We train nonprofit staff and boards to understand and build financial health, clear strategy, and strong governance practices. We provide expert knowledge, guidance, and insight for nonprofits about governance, planning, financial strategy, and sustainability.We consult and guide on strategy, organizational structure and financial plans, strategic alliances, and governance. We offer nonprofit accounting services and financial systems review. We provide fiscal sponsorship and support for emerging organizations and collaborations.”
Form 990, Part I, Line 8
“- Properly Nonprofits regularly receives large, multi-year grants that appear as significant changes in contributions and grants from one year to the next. Because some of these grants have donor restrictions that limit their use to certain programs or to certain periods of time, these large, multi-year grants may also cause the total revenue less expenses or net income to appear negative one year, then positive the next, and back and forth. In FY2019, our total change in net assets is a positive $668,222 and our change in net assets without donor restriction (the more accurate measure of a nonprofit's annual operating results), is a positive 489,560. For a more complete picture of Propel Nonprofits' operating activity, please see our annual audited financial statements as made available at our website, www.propelnonprofits.org”
Form 990, Part I, Line 19
“- Properly Nonprofits regularly receives large, multi-year grants that appear as significant changes in contributions and grants from one year to the next. Because some of these grants have donor restrictions that limit their use to certain programs or to certain periods of time, these large, multi-year grants may also cause the total revenue less expenses or net income to appear negative one year, then positive the next, and back and forth. In FY2019, our total change in net assets is a positive $668,222 and our change in net assets without donor restriction (the more accurate measure of a nonprofit's annual operating results), is a positive 489,560. For a more complete picture of Propel Nonprofits' operating activity, please see our annual audited financial statements as made available at our website, www.propelnonprofits.org”
Form 990, Part IV, Line 12A
“Propel Nonprofits issues its own audited financial statements. Though operating wholly independently, Propel Nonprofits is technically a subsidiary organization of The Minneapolis Foundation. The Minneapolis Foundation approves a bare majority of the slate of board members of Propel Nonprofits. Because of this structure, The Minneapolis Foundation consolidates Propel Nonprofits' financials in its audited financial statements.”
Form 990, Part XII, Line 1
“- While Propel Nonprofits did not change its method of accounting and maintains its books on an accrual basis, it has adopted FASB Accounting Standards Update 2016-14 Presentation of Financial Statements of Not-for-Profit Entities. This adoption related to the audited financial statements does not affect the preparation or presentation of this IRS Form 990. Visit our website at www.propelnonprofits.org to see our FY2019 audited financial statements using the FASB standards.”
Financial Statement Notes
Schedule D, Part IV, Line 2B
“The combined organization acts as a fiscal sponsor to emerging projects based in Minnesota, North Dakota, South Dakota, and Wisconsin that for various reasons have not established themselves as separate 501(c)(3) nonprofit organizations. These entities may be in the process of applying for 501(c)(3) status or may be short-term in nature or may be exploring whether becoming a separate nonprofit is the most appropriate long-term strategy to accomplish their mission. Propel Nonprofits accepts charitable grants and contributions on behalf of these projects. These funds are treated as contributions with donor restrictions when received by Propel Nonprofits. These funds are released from restriction as Propel Nonprofits in turn grants them to the fiscally sponsored recipients. Propel Nonprofits ultimately retains the discretion to redirect the funds to another entity if needed to accomplish the purpose of the contribution as originally restricted by its donor. Once funds have been granted to the fiscally sponsored client, the client has the option to hold and manage those funds on its own or enter an arrangement with Propel Nonprofits in which Propel Nonprofits administers the funds on behalf of the client. If the client chooses to have Propel Nonprofits administer its funds, those funds become a liability of Propel Nonprofits and are recorded as such for accounting purposes. The arrangement includes Propel Nonprofits holding the client's funds in a custodial account, providing bookkeeping and accounting services, and assisting in other administrative duties related to those funds. In this arrangement, the management of the fiscally-sponsored client directs the use of the funds. Propel Nonprofits simply executes the mechanics of the transactions.”
Schedule D, Part X, Line 2
“- Propel Nonprofits is exempt from Income taxes under section 501(c)(3) of the Internal Revenue Service Code. It has been classified as a public charity that is not a private foundation under the Internal Revenue Code and charitable contributions by donors are tax deductible. Propel Nonprofits is also exempt from state income taxes. Propel Nonprofits evaluated its tax positions and determined that it has no uncertain tax positions.”
Raw XML AppendixShowing 400 of 1,511 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.
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| IRS990/ActivityOrMissionDesc | 0 | Our mission is to fuel the impact and effectiveness of nonprofits with guidance, expertise and capital. Propel Nonprofits provides loans to nonprofits for facilities and working capital. See Schedule O for more information. |
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| IRS990/Desc | 0 | Lending: As a Community Development Financial Institution (CDFI) certified by the US Treasury, Propel Nonprofits makes loans to nonprofit organizations to expand programs and services, bridge cash flow gaps, consolidate debt, and make capital improvements. We believe that access to capital is essential to the growth and stability of the nonprofit sector. Propel Nonprofits makes loans to nonprofits of all sizes and stages of development, many of which have been historically under-served by traditional credit markets. Loans are as large as $1 million and as small as $10,000. Overall, we made 113 new loans in FY2019 totaling $20,791,943. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, and affordable housing. By partnering with other capital providers, we also leveraged additional funds of $19 million into the community. Within the lending program, Propel Nonprofits has continued the innovative Equity Builder Loan Program. This program includes intense technical assistance, a cohort learning process, loan forgiveness, and a structured savings program that brings equity to the balance sheets of Minnesota-based arts and culture nonprofits. Ultimately, the goal is to allow the leaders of these organizations to be more strategic and visionary in their work. |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 16 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 17 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 18 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 19 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 20 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 21 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | Vice-Chairperson |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | Chairperson |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 18 | President and CEO |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 19 | Vice President of Lending |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 20 | Vice President of Finance & Chief Financial Officer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 21 | Vice President of Finance & Chief Financial Officer |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1998 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 1 |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/FundraisingAmt | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 0 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 18 |
| IRS990/GovernmentGrantsAmt | 0 | 1363626 |
| IRS990/GrantAmt | 0 | 375962 |
| IRS990/GrantsPayableGrp/BOYAmt | 0 | 0 |
| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 3460388 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 3460388 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 8147322 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 17 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 3 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InformationTechnologyGrp/FundraisingAmt | 0 | 2929 |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 15272 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 59978 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 78179 |
| IRS990/InsuranceGrp/FundraisingAmt | 0 | 285 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 5338 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 6089 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 11712 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/InterestGrp/FundraisingAmt | 0 | 0 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 428139 |
| IRS990/InterestGrp/TotalAmt | 0 | 428139 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentExpenseAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt | 0 | 25344 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 25344 |
| IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 393993 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 1195015 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 26 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 474374 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 1077752 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 946451 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 1420825 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembershipDuesAmt | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | The mission of Propel Nonprofits is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 13029890 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 13698112 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 0 |
| IRS990/NoncashContributionsAmt | 0 | 19000 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/FundraisingAmt | 0 | 7532 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 40413 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 152784 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 200729 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 1922 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 28625 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $38,277,659
- Liabilities
- $24,579,547
- Net assets
- $13,698,112
- Revenue
- $8,147,322
- Expenses
- $7,479,100
- Net income
- $668,222