2016-08-12T16:38:12-07:00 2016-03-31 990 2015-04-01 411916337 NONPROFITS ASSISTANCE FUND NONP 6122787180 2801 21st Ave S STE 210 Minneapolis MN 55407 Kate Barr Executive Director 6122787180 2016-08-12 2015 2016-12-15 16:53:06Z Kate Barr 2801 21st Ave South STE 210 Minneapolis MN 55407 2191595 0 X www.nonprofitsassistancefund.org X 1998 MN To strengthen the community by investing capital and expertise in nonprofits. NAF provides loans to nonprofits for facilities and working capital, as well as financial management training, technical assistance, and online resources covering nonprofit finance topics. 10 9 15 16 0 0 1676289 793565 1186993 1379966 17672 15835 4553 2229 2885507 2191595 0 0 0 0 891261 1008415 6000 0 15220 906605 863037 1803866 1871452 1081641 320143 23075277 23436143 14218168 14258891 8857109 9177252 The mission of Nonprofits Assistance Fund is to strengthen the community by investing capital and expertise in nonprofits. 0 0 1061448 0 1302210 Lending Program. As a Community Development Financial Institution (CDFI) certified by the US Treasury, Nonprofits Assistance Fund makes loans to nonprofit organizations to expand programs and services, bridge cash flow gaps, consolidate debt, and make capital improvements. We make loans as large as $1.5 million and as small as $20,000. Our borrowers are nonprofits of all sizes and stages of development. In FY2016, we made 103 new loans totaling $10,868,948. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, and affordable housing. 442075 0 79428 Training and Knowledge Sharing. Nonprofits Assistance Fund provides high-quality training and extensive resources to the board and staff of nonprofit organizations across Minnesota, surrounding states, and nationwide. Our trainers presented in-person workshops, live webinars, conference sessions, and speaking engagements that impacted more than 3,300 people at 95 events in FY2016. Our website is visited by tens of thousands of individuals each year, accessing our impressive array of downloads, articles, blog posts, and other nonprofit financial management tools. 100315 0 16239 Technical Assistance and Support. Nonprofits Assistance Fund provides financial guidance and financial management advice in the form of one-on-one meetings and coaching. This expertise is shared in-person, over the phone, and by email. Our team of nonprofit financials experts make themselves available to executive directors, board members, staff, and volunteers of nonprofit organizations in all fields and of all sizes. In FY2016, we provided nearly 1300 hours of free financial advice to individuals representing over 400 different organizations. 0 0 0 1603838 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 25 0 1 15 1 0 0 0 0 0 0 0 0 0 0 X 10 9 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 6122787180 2801 21st Ave S STE 210 Minneapolis MN 55407 X Jean Adams Board Member 2 40 X 0 222343 44277 Ralph Bernstein Board Member 2 0 X 0 0 0 Alison Halley Board Member 2 0 X 0 0 0 Sean Kershaw Board Member 2 0 X 0 0 0 Magui Rubalcava Shulman Board Member 2 0 X 0 0 0 Gary Taverna Board Member 3.00 0 X 0 0 0 Beth Topoluk Board Member 2 0 X 0 0 0 Ron Price Vice Chairperson 3 0 X 0 0 0 Sondra Reis Chairperson 3 0 X 0 0 0 Lois Schmidt Secretary / Treasurer 3 0 X 0 0 0 Kate Barr Executive Director 40 0 X 144576 0 28281 Curtis Klotz Finance Director 40 0 X 81731 0 17774 226307 222343 90332 1 0 1 0 0 0 0 0 0 0 793565 15022 793565 Loan Interest Revenue 522200 1191074 1191074 0 0 Loan Fee Revenue 522200 70057 70057 0 0 Contract Fee Revenue 541900 78979 78979 0 0 Workshop Fees 611430 15015 15015 0 0 24841 24841 0 0 1379966 15835 15835 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2229 2229 0 0 2229 2191595 1398030 0 0 0 0 0 0 0 0 0 0 291844 179127 101022 11695 0 0 0 0 551019 511320 39303 396 19059 18723 334 2 81643 73435 8038 170 64850 53981 10249 620 2261 0 2261 0 3090 3090 0 0 21606 0 21606 0 0 0 0 0 0 0 0 0 0 0 85977 68787 17188 2 72103 71556 0 547 60764 41651 18259 854 39082 32325 6536 221 0 0 0 0 76032 60330 15282 420 23746 21241 2470 35 0 0 0 0 8739 8399 338 2 379530 379530 0 0 0 0 0 0 44619 36547 7816 256 1692 0 1692 0 Provision for Loan Loss Reserve 37228 37228 0 0 Lending Expenses 6568 6568 0 0 1871452 1603838 252394 15220 674414 888830 1734969 2218883 349088 49836 11510 108123 0 0 0 0 19676940 19610516 0 0 33668 32395 300217 236764 64419 63453 0 0 0 0 0 0 0 0 530269 464107 23075277 23436143 149937 164625 0 0 6145 5420 0 0 0 0 0 0 2500000 2500000 11462086 11488846 100000 100000 14218168 14258891 X 7804616 8636032 1052493 541220 0 0 8857109 9177252 23075277 23436143 320143 0 0 0 0 0 X X 0 1 X 1 0 X X 1 Minneapolis Foundation 416029402 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 82558 58319 24239 0 217659 178445 39214 0 0 0 0 63453 0 Recoverable Grants 100000 100000 X 2191595 0 0 0 0 0 2191595 0 0 0 2191595 1871452 0 0 0 0 0 1871452 0 0 0 1871452 Schedule D, Part X, Line 2 NAF 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. NAF is also exempt from state income taxes. NAF evaluated its tax positions and determined that it has no uncertain tax positions. X X X 0 0 0 0 0 0 0 0 0 Kate Barr Executive Director 144576 0 0 0 0 0 7986 0 20295 0 172857 0 0 0 Jean Adams Board Member 0 222343 0 0 0 0 0 18420 0 25857 0 266620 0 0 Schedule J, Part I, Line 3 The executive committee of the Nonprofits Assistance Fund board of directors is responsible for reviewing annually the performance and salary of the executive director. Based on the review, the committee determines compensation for the executive director. In its salary determination, the committee considers salaries of executive directors in peer organizations with comparable experience, consults survey data of nonprofit executives, and reviews the history of the executive director's compensation. The executive director's salary was last reviewed in Spring 2015. No changes to the executive director's salary have occurred since that time. The next review is scheduled for Fall 2016. Form 990, Part I, Line 8 NAF 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 are temporarily restricted 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. For a more complete picture of NAF's operating activity, please see our annual audited financial statements as made available at our website, www.nonprofitsassistancefund.org Form 990, Part I, Line 19 NAF 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 are temporarily restricted 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. For a more complete picture of NAF's operating activity, please see our annual audited financial statements as made available at our website, www.nonprofitsassistancefund.org Form 990, Part IV, Line 12a NAF issues its own audited financial statements. NAF is a Type I supporting organization of The Minneapolis Foundation (TMF). TMF consolidates NAF's financials in its audited financial statements. Form 990, Part VI, Section A, Line 2 Kate Barr, executive director of Nonprofits Assistance Fund, is a board member of Borealis Philanthropy, a nonprofit philanthropic intermediary organization whose executive director, Magui Rubalcava Shulman, is a board member of Nonprofits Assistance Fund. Form 990, Part VI, Section A, Line 7a Board members of Nonprofits Assistance Fund are recruited and selected by the board of NAF. As a supporting organization of The Minneapolis Foundation, a bare majority of the NAF 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 Nonprofits Assistance Fund (NAF) is a supporting organization of The Minneapolis Foundation (TMF), and according to the bylaws of the NAF, the Board of Trustees of TMF may at any time remove a director of the board of NAF that TMF has also elected to the NAF Board. The Board of Trustees of TMF may also appoint a director to fill any vacancy of a NAF board member formally elected by TMF 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 Finance Director based on the audited financial statements. The 990 is then reviewed by the Executive Director. The 990 is then distributed to the board of directors before the 990 is filed by its August deadline. Form 990, Part VI, Section B, Line 12c Nonprofits Assistance Fund's 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 Nonprofits Assistance Fund board of directors is responsible for reviewing annually the performance and salary of the executive director. Based on the review, the committee determines compensation for the executive director. In its salary determination, the committee considers salaries of executive directors in peer organizations with comparable experience, consults survey data of nonprofit executives, and reviews the history of the executive director's compensation. The executive director's salary was last reviewed in Spring 2015. No changes to the executive director's salary have occurred since that time. The next review is scheduled for Fall 2016. Form 990, Part VI, Section C, Line 19 Nonprofits Assistance Fund makes its governing documents and conflict of interest policy available to anyone upon request. NAF governing documents include its articles of incorporation, bylaws, and IRS Form 1023. NAF financial statements, annual reports, and quarterly investor reports are available to the public via its website. NAF 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, Chief Operating Officer and Chief Financial Officer of The Minneapolis Foundation, serves on the Nonprofits Assistance Fund board of directors. Because NAF is a Type I supporting organization 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 2b Nonprofits Assistance Fund (NAF) issues its audited financial statements separately. However, NAF is a Type I supporting organization of The Minneapolis Foundation (TMF) and TMF consolidates NAF's financial statements into TMF's audited financial statements. The Minneapolis Foundation 80 South 8th Street IDS Center 800 Minneapolis MN 55402 416029402 Philanthropy MN 501(c)(3) 7 N/A 0 TMF Investment LP The Minneapolis Foundation 800 IDS Center 80 South 8th Street Minneapolis MN 55402 Investing MN N/A Excluded 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 The Minneapolis Foundation e 1818500 Nonprofits Assistance Fund (NAF) has two program-related investments from The Minneapolis Foundation (TMF) in the form of the Community Nonprofit Investment pool totaling $1,818,500. These funds are used by NAF to make loans to nonprofit organizations in Minneapolis. NAF pays TMF interest on these funds. The Minneapolis Foundation p 6507 Nonprofits Assistance Fund (NAF) reimburses The Minneapolis Foundation (TMF) for its share of joint business and liability insurance coverage, including directors and officers insurance, business liability, professional liability, and workers compensation insurance. NAF's portion of these costs was $6,507 for the 2015 tax year.