2018-08-09T13:01:20-07:00 2018-03-31 990 2017-04-01 411916337 PROPEL NONPROFITS PROP 6122496700 1 SE Main ST STE 600 Minneapolis MN 55414 Kate Barr President 6122496684 2018-08-09 2017 2022-09-23 18:48:47Z Kate Barr 1 SE Main Street STE 600 Minneapolis MN 55414 6123073 0 X www.propelnonprofits.org X 1998 MN 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. 20 19 37 28 0 0 7303225 3719704 1544974 2382337 45805 21032 0 0 8894004 6123073 1546248 2411978 0 0 1431916 2308532 6800 0 86875 1216583 2242382 4201547 6962892 4692457 -839819 28055965 32125168 14186256 19095278 13869709 13029890 The mission of Propel Nonprofits is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital. 0 0 1954288 43333 1359813 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 101 new loans in FY2018 totaling $18,828,210. 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 $48 million into the community. Within the lending program, Propel Nonprofits has created 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. At the end of FY2018, there were 16 loans active in the Equity Builder program totaling nearly $1.5 million. 2473614 2225945 222462 Fiscal Sponsorship: Propel Nonprofits acts as a fiscal sponsor to emerging projects based in Minnesota, North Dakota, South Dakota, and Wisconsin that for various reasons have not yet 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 in order to accomplish the purpose of the contribution as originally restricted by its donor. Once the 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 administers the funds on behalf of the client. Along with the fiscal management option, Propel Nonprofits provides extensive technical assistance on topics such as financial leadership, board governance, nonprofit business models, and strategy planning. 737823 40000 145736 Training, Guidance, and Knowledge Sharing: Propel Nonprofits provides on-going training, consulting, and technical assistance to groups of nonprofits based either on geographic location (such as Itasca County, MN) or sector (such as arts and culture). Propel Nonprofits' one-to-one expertise and group training programs range in topic from social enterprise, board governance, financial management, accounting, and nonprofit business models. During FY2018, Propel Nonprofits provided training and consulting to cohorts of nonprofits in Little Falls, Saint Paul, and Duluth that were exploring social enterprise as an alternative revenue generating option. In addition, Propel Nonprofits continued its learning sessions, consulting, technical assistance, and executive director cohort in Grand Rapids; conducted trainings and provided technical assistance for nonprofits in surrounding states; and continued its partnership with the Arts Midwest ArtsLab program. 1055413 102700 675356 Other Program Services. Propel Nonprofits provides a wide range of integrated programs and services for nonprofit organizations. Services to nonprofits include programs designed to provide financial management assistance to loan clients and to other nonprofits. Programs provide strategic consulting services, outsourced accounting and financial services, and incorporation services for startup organizations. Customized technical assistance helps organizations understand their financial situation, identify priorities, and develop a plan of action for the near and long-term future. Technical assistance and consulting services include a wide range of diagnostic and mentoring discussions with staff and board leaders. These projects help nonprofits identify, analyze, and adapt their business model and develop plans to tie their mission and goals to strategies that grow capacity and strengthen sustainability. Propel Nonprofits' education and training program provides workshops on topics related to board governance, financial management and leadership for directors, board members, and staff and volunteers. Propel Nonprofits hosts an annual conference on Nonprofit Finance and Sustainability. Other knowledge sharing activities include developing and distributing articles, guidance, templates, and analysis on topics relevant for nonprofits for managing and planning financial practices, planning, governance, and strategy. 1055413 102700 675356 6221138 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 47 0 1 37 1 0 0 0 0 0 1 1 0 0 0 0 X 20 19 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X Curtis Klotz 6122496664 1 SE Main ST STE 600 Minneapolis MN 55414 X Jean Adams Board Member 2.00 40 X 0 253307 45284 Paul Babcock Board Member 2 0 X 0 0 0 Ralph Bernstein Board Member 2 0 X 0 0 0 Heidi Christianson Board Member 2 0 X 0 0 0 Courtney Colby Board Member 2 0 X 0 0 0 Brad Kruse Board Member 2.00 0 X 0 0 0 Scott Marquardt Board Member 2.00 0 X 0 0 0 Sony Malhotra Board Member 2 0 X 0 0 0 David Mitchell Board Member 2 0 X 0 0 0 Marcus Owens Board Member 2 0 X 0 0 0 Patty Pannkuk Board Member 2 0 X 0 0 0 Ron Price Board Member 2 0 X 0 0 0 Magui Rubalcava Shulman Board Member 2 0 X 0 0 0 Gary Taverna Board Member 2 0 X 0 0 0 Bo Thao-Urabe Board Member 2 0 X 0 0 0 Diane Tran Board Member 2 0 X 0 0 0 Sarah Clyne Secretary 3 0 X X 0 0 0 Sean Kershaw Vice-Chairperson 3 0 X X 0 0 0 Beth Topoluk Treasurer 3 0 X X 0 0 0 Greg Zeller Chairperson 4 0 X X 0 0 0 Kate Barr President and CEO 40 0 X 183556 0 30811 Janet Ogden-Brackett Vice President of Lending 40 0 X 107622 0 24120 Curtis Klotz Vice President of Finance & Chief Financial Officer 40 0 X 102463 0 22290 393641 253307 122505 3 0 1 0 0 0 0 0 165500 898906 2655298 20173 3719704 Loan Interest Revenue 522200 1226144 1226144 0 0 Loan Fee Revenue 522200 121949 121949 0 0 Client Fee and Contract Revenue 541900 985280 985280 0 0 Workshop and Training Fees 611430 42085 42085 0 0 6879 6879 0 0 2382337 21032 21032 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6123073 2403369 0 0 2411978 2411978 0 0 0 0 0 0 481322 303259 157270 20793 0 0 0 0 1415086 1218664 175737 20685 70249 60428 8787 1034 156081 131194 24275 612 185794 118507 64267 3020 14000 1469 12531 0 19127 9265 9862 0 24734 3038 21696 0 0 0 0 0 0 0 0 0 0 0 330572 295039 3196 32337 47746 17019 30480 247 107532 66379 39678 1475 88361 62619 24407 1335 0 0 0 0 237062 189330 44095 3637 38680 34926 3677 77 0 0 0 0 37747 23922 13736 89 330133 330133 0 0 0 0 0 0 96295 78209 16552 1534 4457 0 4457 0 Provision for Loan Loss Reserves 845466 845466 0 0 Lending Expenses 6661 6661 0 0 Other Filing Fee Expenses 7413 7237 176 0 Uncollectible Accounts Expense 6396 6396 0 0 0 0 0 0 6962892 6221138 654879 86875 1876241 4896631 5678553 1980395 1766546 1488089 234320 260015 0 0 0 0 17844073 21876252 0 0 200783 91230 1353603 275851 106151 1077752 0 0 288487 393993 0 0 0 0 60811 60811 28055965 32125168 271267 722266 0 0 3110 8875 0 0 950381 996490 0 0 0 0 12961498 17367647 0 0 14186256 19095278 X 9168761 10519354 4700948 2510536 0 0 13869709 13029890 28055965 32125168 -839819 0 0 0 0 0 X X 0 1 X 1 1 1 X 252687 1676289 793565 7303225 3719704 13745470 0 0 0 0 0 0 0 0 0 0 0 0 252687 1676289 793565 7303225 3719704 13745470 3963740 9781730 23960 17672 15835 13904 21032 92403 0 0 0 0 0 0 0 0 0 0 0 0 13837873 7511987 0.70688 0.69090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 0 0 0 0 0 0 0 0 583755 42547 541208 0 769848 233304 536544 0 0 0 0 1077752 0 0 X 6123073 0 0 0 0 0 6123073 0 0 0 6123073 6962892 0 0 0 0 0 6962892 0 0 0 6962892 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 into 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. 1 African American Community of Practice 10336 Grand Oaks Trail Woodbury MN 55129 823212666 25000 To build capacity of African American communities to heal from the multi-generational effects of historical trauma and ongoing structural racism. ANEW BAM 2355 Highway 36 West Roseville MN 55113 473224688 501c3 7321 Hiring an Associate Director for Organizational Sustainability. Association for Black Economic Power 227 Colfax Avenue North Suite 230 Minneapolis MN 55405 815486146 501c3 90171 Transform local communities by equipping Black people with powerful economic tools and resources. Big Dreamers United Inc 4225 Beverly Road Madison WI 53711 824582921 50000 To help other nonprofits with their creative communication needs. Break the Silence PO Box 17370 Lot 1851 Saint Paul MN 55117 812003541 94715 To end rape culture, hold perpetrators accountable, and support survivors of sexual violence in healing. Charlie Academy 6193 West Ridge Rd Highland UT 84003 821593798 501c3 80000 To provide leadership content via online Learning Management System to help students develop their leadership potential. Coalition of Asian American Leaders PO Box 211211 Saint Paul MN 55121 810874603 501c3 388711 To support an effort led by local Asian American leaders in Minnesota who are leveraging their assets to harness power to build unity, cohesion, and common agendas to advance equity in the State. Community Health Fund 5810 42nd Ave N Robbinsdale MN 55422 820728457 37984 To build 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. Creative Enterprise Zone 2314 University Ave W STE 28 Saint Paul MN 55114 810874603 501c3 5165 To help support a recognized center of creativity and enterprise, a place where people make a living by their creative capacities. Cultural Diversity Resources 112 N University Dr STE 306 Fargo ND 58102 411896836 501c3 5209 To improve internal organizational structure by developing the financial and database management systems with updated technology, to create and provide professional training on new financial and database systems; to add one staff to assist with training and skills development, and to increase capacity to serve more in the community. Deer River Area Health Care Foundation 1057 Comstock Drive Deer River MN 56636 411770765 501c3 10000 Social enterprise grant Dream of Wild Health 1308 Franklin Ave Suite 203 Minneapolis MN 55404 411632662 501c3 5431 For infrastructure development and to focus on financial systems, internal communications technology, training and support. Family Values for Life 1280 Arcade Street Saint Paul MN 55106 412006889 501c3 11721 To support leadership personnel and financial process improvement so that on the other side of this transition period we are better equipped for sustained, high-quality service to families. FilmNorth 550 Vandalia ST STE 120 Saint Paul MN 55114 411594894 501c3 6667 Loan forgiveness through Equity Builder Loan Program Fortune Relief and Youth Empowerment Organization 2910 Pillsbury Ave S Suite 432 Minneapolis MN 55408 812134614 501c3 25200 To provide a continuum of care that includes outreach, basic services, education and career developments while positively transforming the social and economic structures that sabotage poverty. GLITCH 1829 Riverside Avenue Suite 200 Minneapolis MN 55454 474123991 28281 To promote the exploration of digital games as a culture, career, and creative practice. Hispanic Advocacy and Community Empowerment through Research - HACER 2314 University Ave W Suite 20 Saint Paul MN 55114 411900934 501c3 10908 To increase the capacity of the organization by hiring an administrative and financial associate to develop a financial system, increasing number of partnerships with other organizations, diversifying sources of income and updating the organization's technology. HOURCAR 1754 University Avenue West Saint Paul MN 55104 814740695 501c3 286691 To support a great tool to minimize car travel, resulting in cleaner air and fewer greenhouse gas emissions. Illusion Theatre 528 Hennepin Ave Suite 704 Minneapolis MN 55403 237392140 501c3 6667 Loan forgiveness through Equity Builder Loan Program In the Heart of the Beast Puppet Theatre 1500 E Lake ST Minneapolis MN 55407 411251313 501c3 6667 Loan forgiveness through Equity Builder Loan Program Intermedia Arts of Minnesota 2822 Lyndale Ave S Minneapolis MN 55408 411226945 501c3 120934 To build understanding among people through art. Itasca County Television 819 NE 4th Street Grand Rapids MN 55744 364209055 501c3 10000 Social enterprise grant Itasca Life Options PO Box 20 Grand Rapids MN 55744 410907640 501c3 10000 Social enterprise grant Mentoring Young Adults - MYA 550 Rice Street Saint Paul MN 55113 800298183 501c3 12800 For infrastructure assistance to compete for government (city and county) grants. Mewinzha Ondaadiziike Wiigaming 1819 Bemidji Avenue N Suite 3 Bemidji MN 56601 462523191 501c3 8207 To hire our Anishinaabe Doula trainer to train local community members to become certified Doula's to expand our workforce development to support, educate and reclaim traditional birthing practices. In addition, to help develop our financial, education and clinic systems. Minnesota Harvest Initiative 1300 Yale Place STE 229 Minneapolis MN 55403 820930472 55000 To support a coalition of African American business owners and professionals who are committed to a mission that promotes economic participation and educational freedom. Minnesota Host Home Network 3748 Bryant Ave S Minneapolis MN 55409 474977811 41038 To support a network that catalyzes system change for youth facing homelessness by championing lasting relationships with the caring adults already in their lives who are not their service providers. Minnesota Indian Business Alliance PO Box 1902 Detroit Lakes MN 56502 815041824 80438 To align partners committed to the growth and success of Native American businesses and entrepreneurs, connects Native American businesses, entrepreneurs and resource providers in innovative and practically useful ways, and transforms Native American communities. Mu Performing Arts 755 Prior Ave N Suite 107 Saint Paul MN 55104 411727881 501c3 10000 Loan forgiveness through Equity Builder Loan Program North American Traditional Indigenous Food Systems 3626 Garfield Avenue Minneapolis MN 55409 820613944 501c3 22563 Accelerating Food Access through Indigenous Culinary Education and Small Business Development Northwest Hennepin Early Childhood Network 17749 62nd Ave N Maple Grove MN 55311 822974713 12000 Improving the impact of early childhood education services provided by member organizations to member cities and their residents. Partnerships for Permanance 4725 17th Ave S Minneapolis MN 55407 364861270 40000 To support foster care alumni and adoptees to raise awareness and actively work to improve the child welfare system. Penumbra Theatre 270 N Kent Street Saint Paul MN 55102 411563764 501c3 6667 Loan forgiveness through Equity Builder Loan Program Quality Education Services of MN 1731 Louise Avenue Saint Paul MN 55106 464014810 501c3 368309 To engage community elders to build mutually-beneficial relationships that foster the social-emotional and academic skills and abilities children need for success. Reviving the Islamic Sisterhood for Empowerment 1007 West Broadway Ave N Minneapolis MN 55411 811236990 337927 To support a mission to amplify the voice and power of Muslim women. Saluting Branches 11571 K Tel Dr Minnetonka MN 55343 371834210 501c3 9000 To honor American service men and women by organizing volunteer tree and landscape care for the property dedicated to our veterans. Somali Community Resettlement Services 201 S Lyndale Ave Faribault MN 55021 311668255 501c3 10409 To increase capacity through hiring culturally competent staff. St Paul Youth Services 2100 Wilson Ave Saint Paul MN 55119 411316444 501c3 10000 Mini-grant for brand development of new program The Works 9740 Grand Ave S Bloomington MN 55420 411570750 501c3 6667 Loan forgiveness through Equity Builder Loan Program Ujamaa Place 1821 University Ave Suite N257 Saint Paul MN 55104 271216065 501c3 10000 Social enterprise grant Young Muslim Collective 351 Naegele Ave Minneapolis MN 55421 821991646 15429 To aid Muslim youth who are subjected to racism and faith-based hate by promoting arts, healing, activism, outreach, and advocacy. 29 12 Schedule I, Part I, Line 2 Grants are made to client participants in our Social Enterprise Cohort, Equity Builder Loan Program, Fiscal Sponsorship Program, and Nonprofit Infrastructure Grant Program (NIGP). In all four of these programs, clients must apply and are vetted for fit and probable success. For clients that are grantees in the Social Enterprise Cohort and Equity Builder Loan Program, the grantee must be actively participating in the program, attending required meetings and trainings, and meeting minimum programmatic and financial thresholds. Our program staff are in constant contact with the client participants and monitor their progress. Each applicant to the fiscal sponsorship program applies and is vetted by a committee of board, staff, and community members. Once accepted as a fiscally sponsored client, most of these clients have engaged Propel Nonprofits to provide ongoing program and accounting support. Grantees of the NIGP applied to and were accepted by a committee of community representatives. For both the fiscal sponsorship program and the NIGP, grantees are constantly monitored and supported. Program activities include a wide variety of offerings, including the following: support for organizational requirements during onboarding; access to no cost or discounted training; guidance on financial management, governance, and strategy; no cost or discounted consulting services; invitations to participate in peer learning; and additional technical assistance provided by Propel Nonprofits staff. X X X X 0 0 0 0 0 0 0 0 0 Kate Barr President and CEO 168556 0 15000 0 0 0 9335 0 21476 0 214367 0 0 0 Jean Adams Board Member 0 253307 0 0 0 0 0 20592 0 24692 0 298591 0 0 Schedule J, Part I, Line 3 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 CEOs 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 2017. No changes to the president and CEO's salary have occurred since that time. 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 Propel 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 FY2018, our total change in net assets is a negative $839,819, but our change in net assets without donor restriction (the more accurate measure of a nonprofit's annual operating results, is a positive $1.35 million. 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 Propel 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 FY2018, our total change in net assets is a negative $839,819, but our change in net assets without donor restriction (the more accurate measure of a nonprofit's annual operating results, is a positive $1.35 million. 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 a 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 VI, Section A, Line 2 Kate Barr, president and CEO of Propel Nonprofits, is a board member 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 it 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 the 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 also elected to The Minneapolis Foundation 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 August 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 and board member is required to disclose any dualities of interest in writing. New employees and board members review the policy and disclose 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 discloses 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 CEOs 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 2017. 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. 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 did choose to become an early adopter of FASB Accounting Standards Update 2016-14 Presentation of Financial Statements of Not-for-Profit Entities. This change in accounting standards affects the audited financial statements of Propel Nonprofits, but does not affect the preparation or presentation of this IRS Form 990. Visit our website at www.propelnonprofits.org to see our FY2018 audited financial statements using the new FASB standards. The Minneapolis Foundation 80 South 8th Street IDS Center 800 Minneapolis MN 55402 416029402 Philanthropy MN 501(c)(3) 7 N/A 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 The Minneapolis Foundation c 165500 Propel Nonprofits received three grants totaling $130,000 for program services and additional grants totaling $35,500 for the fiscal sponsorship fund from The Minneapolis Foundation in FY2018. The program service grants included $50,000 for merger-related expenses, $50,000 to support work with charter schools, and $30,000 to support the Minnesota Comeback initiative. The grants for fiscal sponsorship supported the work of two fiscally-sponsored clients, Reviving the Islamic Sisterhood of Empowerment (RISE) and the Coalition of Asian American Leaders (CAAL). The Minneapolis Foundation e 1000000 During FY2018, Propel Nonprofits paid off $818,500 in a program-related investment from The Minneapolis Foundation. Propel Nonprofits entered into a new program-related investment of $1,000,000 for lending to charter schools. Propel Nonprofits also maintains a line of credit with The Minneapolis Foundation of $2 million. Propel Nonprofits did not draw on this line of credit during FY2018. The Minneapolis Foundation p 12690 For efficiency of scale, Propel Nonprofits purchases its business liability and workers compensation insurances in conjunction with The Minneapolis Foundation. This amount represents Propel Nonprofits' proportionate share of the premiums for these insurances.