2015-08-13T18:14:14-07:00 2015-03-31 990 2014-04-01 411916337 NONPROFITS ASSISTANCE FUND NONP 6122787180 2801 21st Ave S STE 210 Minneapolis MN 55407 Kate Barr Executive Director 6122787180 2015-08-13 2014 2016-03-07 17:11:31Z Kate Barr 2801 21st Ave S STE 210 Minneapolis MN 55407 2885507 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. 12 11 11 20 0 0 252687 1676289 979034 1186993 23960 17672 0 4553 1255681 2885507 0 0 0 0 879773 891261 0 6000 27693 856019 906605 1735792 1803866 -480111 1081641 18411769 23075277 10636301 14218168 7775468 8857109 The mission of Nonprofits Assistance Fund is to strengthen the community by investing capital and expertise in nonprofits. 0 0 1024494 0 1094136 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 million and as small as $10,000. Our borrowers are nonprofits of all sizes and stages of development. In FY2015, we made 103 new loans totaling $16,144,689. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, and affordable housing. 394962 0 102158 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 over 3,200 people at 112 events in FY2015. 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. 113969 0 12643 Nonprofits Assistance Fund provides technical assistance and financial management advice in the form of one on one meetings and consultation. 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 FY2015, we provided over 1350 hours of free financial advice to individuals representing 449 different organizations. 0 0 0 1533425 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 X 21 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 12 11 1 0 1 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 214453 41367 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 Barbara Milon 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 Magui Rubalcava Shulman Board Member 2 0 X 0 0 0 Lois Schmidt Secretary / Treasurer 3 0 X 0 0 0 Carolyn Smallwood Board Member 2 0 X 0 0 0 Gary Taverna Board Member 2 0 X 0 0 0 Beth Topoluk Board Member 2 0 X 0 0 0 Curtis Klotz Finance Director 40 0 X 74653 0 20999 Kate Barr Executive Director 40 0 X 137051 0 36474 211704 214453 98840 1 0 1 0 0 0 0 30000 19000 1627289 15189 1676289 Loan Interest Revenue 522200 936845 936845 0 0 Loan Fee Revenue 522200 127973 127973 0 0 Contract Fee Revenue 541900 88890 88890 0 0 Workshop Fees 611430 15960 15960 0 0 17325 17325 0 0 1186993 17672 17672 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4553 4553 0 0 4553 2885507 1209218 0 0 0 0 0 0 0 0 0 0 274032 174115 84027 15890 0 0 0 0 466305 426620 38463 1222 29944 27020 2827 97 62751 51107 11434 210 58229 48068 9268 893 10527 0 10527 0 19950 16914 3036 0 21400 0 21400 0 0 0 0 0 6000 6000 0 0 0 0 95897 90148 5749 0 32789 30932 1212 645 53338 25669 26758 911 19989 15805 3949 235 0 0 0 0 71957 59081 11960 916 21593 18218 3321 54 0 0 0 0 5398 3640 1686 72 269633 269633 0 0 0 0 0 0 42871 35192 7131 548 0 0 0 0 Provision for Loan Loss Reserve 216320 216320 0 0 Other Lending Expenses 24943 24943 0 0 0 0 0 0 1803866 1533425 242748 27693 1263116 674414 2288334 1734969 100000 349088 19541 11510 0 0 0 0 14569413 19676940 0 0 16740 33668 287014 222595 96569 64419 0 0 0 0 0 0 0 0 58056 530269 18411769 23075277 209857 149937 0 0 9968 6145 0 0 0 0 0 0 0 2500000 10416476 11462086 0 100000 10636301 14218168 X 7248653 7804616 526815 1052493 0 0 7775468 8857109 18411769 23075277 1081641 0 0 0 0 0 X X 0 1 X 1 0 X X 1 Minneapolis Foundation 416029402 7 1 0 0 1 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 63627 47216 16411 0 223387 175379 48008 0 0 0 0 64419 0 Recoverable Grants 100000 100000 X 2885507 0 0 0 0 0 2885507 0 0 0 2885507 1803866 0 0 0 0 0 1803866 0 0 0 1803866 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 137051 0 0 0 0 0 11422 0 25052 0 173525 0 0 0 Jean Adams Board Member 0 214453 0 0 0 0 0 17776 0 23591 0 255820 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 executive salaries, and reviews the history of the executive director's compensation. The executive director's salary was last reviewed in Spring 2015. 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 V, Line 2a Through December 31, 2014, according to an Employee Services Agreement, The Minneapolis Foundation (TMF) paid the staff of NAF as Foundation employees. NAF reimbursed TMF 100 percent of the salaries, payroll taxes, and benefits paid to NAF staff by TMF. Until December 31, 2014, the compensation data for NAF was aggregated and reported on TMF's W-3. Beginning January 1, 2015, due to changes in its governing documents, NAF is no longer considered a single employer with TMF. From January 1, 2015 forward, NAF pays its own staff directly and administers its own personnel, human resources, and benefits programs. 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 organization whose executive director is Magui Rubalcava Shulman, board member of Nonprofits Assistance Fund. Form 990, Part VI, Section A, Line 4 Effective January 1, 2015, Nonprofits Assistance Fund (NAF) amended its Articles of Incorporation and its Bylaws to change the percentage of control exercised by its supported organization, The Minneapolis Foundation (TMF). The percentage of NAF board members who are elected by TMF Board of Trustees was changed from 100% to a bare majority. The effect of the change allows NAF to remain a Type I supporting organization of TMF, while at the same time allowing NAF to begin to administering its own personnel, compensation, and benefits programs. NAF is no longer considered a single employer where it concerns personnel and benefits programs and regulations. Form 990, Part VI, Section A, Line 7a NAF is a Type I supporting organization of The Minneapolis Foundation (TMF). For calendar 2014, up until NAF's Articles of Incorporation and Bylaws were amended effective January 1, 2015, TMF's Board of Trustees elected 100% of NAF's board of directors. With the change in governing documents, TMF's Board of Trustees now elects a bare majority of NAF's board members, with NAF's board electing the remainder. This change does not effect NAF's status as a Type I supporting organization of TMF, but does allow NAF to establish its own personnel, human resources, and compensation policies and benefits programs. Form 990, Part VI, Section A, Line 7b NAF is a Type I supporting organization of The Minneapolis Foundation (TMF). For calendar 2014, up until NAF's Articles of Incorporation and Bylaws were amended effective January 1, 2015, TMF's Board of Trustees elected 100% of NAF's board of directors. With the change in governing documents, TMF's Board of Trustees now elects a bare majority of NAF's board members, with NAF's board electing the remainder. This change does not effect NAF's status as a Type I supporting organization of TMF, but does allow NAF to establish its own personnel, human resources, and compensation policies and benefits programs. Form 990, Part VI, Section B, Line 11b The audited financial statements, on which the Form 990 is based, were presented to NAF's Audit Committee on June 15, 2015. The Form 990 is prepared by the Finance Director based on the audited financial statements. The Form 990 is then reviewed by the Executive Director. After internal review, the Form 990 was presented to the full Board of Directors at its August 13, 2015 meeting. The Form 990 was then signed and transmitted before the August 15 filing deadline. Form 990, Part VI, Section B, Line 12c NAF's conflict of interest policy is reviewed annually by all employees, board members, and loan committee members. Each staff, board, or committee member is required to disclose any dualities of interest in writing. 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 executive salaries, and reviews the history of the executive director's compensation. The executive director's salary was last reviewed in Spring 2015. 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 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0