2014-08-14T17:23:29-07:00 2014-03-31 990 2013-04-01 411916337 NONPROFITS ASSISTANCE FUND NONP 6122787180 2801 21st Ave S Ste 210 Minneapolis MN 55407 Kate Barr Executive Director 6122787182 2014-08-14 2013 2015-11-30 17:44:51Z Kate Barr 2801 21st Ave South Suite 210 Minneapolis MN 55407 1255681 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. 8 7 15 19 0 0 2313673 252687 965089 979034 27025 23960 0 0 3305787 1255681 0 0 0 0 776099 879773 0 0 10205 660166 856019 1436265 1735792 1869522 -480111 18467644 18411769 10212065 10636301 8255579 7775468 The mission of the Nonprofits Assistance Fund is to strengthen the community by investing capital and expertise in nonprofits. 0 0 999233 0 871703 As a Community Development Financial Institution (CDFI) certified by the US Department of 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 FY2014, we made 105 new loans totaling $14,315,013. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, and affordable housing. 381488 0 103167 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 3,800 people at 125 events in fiscal year 2014. 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. 133382 0 24297 Nonprofits Assistance Fund provides technical assistance and financial management advice in the form of one on one meetings and consultation -- delivered through in-person open office hours, over the phone, and by email. Our team of nonprofit financial experts share their experience and knowledge with executive directors, board members, staff and volunteers of nonprofit organizations in all fields and of all sizes. In fiscal year 2014, we provided 1,982 hours of free financial advice to individuals representing 537 different organizations. 0 0 0 1514103 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 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 23 0 1 15 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 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 207041 41559 Ralph Bernstein Board Member 2 0 X 0 0 0 Alison Halley Board Member 2 0 X 0 0 0 Barbara Milon Board Member 2 0 X 0 0 0 Ron Price Vice Chairperson 2 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 2 0 X 0 0 0 Kate Barr Executive Director 40 0 X 133287 0 39126 Curtis Klotz Finance Director 40 0 X 72032 0 20649 205319 207041 101334 1 0 1 0 0 0 0 0 0 0 252687 15145 252687 Loan Interest Revenue 522200 764214 764214 0 0 Loan Fee Revenue 522200 93409 93409 0 0 Contract Fee Revenue 541900 107401 107401 0 0 Workshop Fees 611430 11435 11435 0 0 2575 2575 0 0 979034 23960 23960 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1255681 1002994 0 0 266347 192331 70059 3957 467414 426336 38178 2900 23412 20971 2349 92 60826 55641 5058 127 61774 52573 8659 542 12051 0 12051 0 6676 4695 1981 0 20300 0 20300 0 0 0 0 0 0 0 0 0 0 0 77177 62397 14778 2 10427 10321 0 106 33351 20119 12294 938 21865 18451 3187 227 0 0 0 0 72332 60762 10807 763 23924 21410 2400 114 0 0 0 0 7219 6627 592 0 253606 253606 0 0 0 0 0 0 40418 33928 6060 430 0 0 0 0 Provision for Loan Loss Reserve 268789 268789 0 0 Professional Development Expense 5750 3012 2731 7 Underwriting Expenses 2134 2134 0 0 1735792 1514103 211484 10205 1242983 1263116 7025858 2288334 62500 100000 9844 19541 0 0 0 0 9921081 14569413 0 0 28077 16740 276293 179724 88852 96569 0 0 0 0 0 0 0 0 88449 58056 18467644 18411769 167029 209857 0 0 6588 9968 0 0 0 0 0 0 0 0 10038448 10416476 10212065 10636301 X 6792455 7248653 1463124 526815 0 0 8255579 7775468 18467644 18411769 -480111 0 0 0 0 0 X X 0 1 X 1 1 1 X X 0 0 0 Minneapolis Foundation 416029402 7 1 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 62922 38832 24090 0 213371 140892 72479 0 0 0 0 96569 1255681 0 0 0 0 0 1255681 0 0 0 1255681 1735792 0 0 0 0 0 1735792 0 0 0 1735792 X X X 0 0 0 0 0 0 0 0 0 Kate Barr Executive Director 133287 0 0 0 0 0 11171 0 27955 0 172413 0 0 0 Jean Adams Board Member 0 207041 0 0 0 0 0 17174 0 24385 0 248600 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 2014. Form 990, Part I, Line 8 NAF received a large, multi-year grant from the CDFI Fund in the prior year, along with several other foundation grants, all designated for lending to nonprofits. These gifts account for the significant difference between contributions in the prior year compared to the current year. The funds received in the prior year were temporarily restricted for lending purposes. Over $1.1 million of these funds were released from restriction in the current year. Please see our FY2014 audited financial statements for a full presentation of the release and use of these multi-year restricted funds. Form 990, Part IV, Line 12a Nonprofits Assistance Fund issues separate audited financial statements. The Minneapolis Foundation, NAF's supported organization, consolidates NAF financials in its audited statements. Form 990, Part V, Line 2a Through an Employee Services Agreement, The Minneapolis Foundation pays the staff of Nonprofits Assistance Fund as Foundation employees. NAF reimburses 100 percent of these salaries, payroll taxes, and benefits. The compensation data for NAF is aggregated and reported on the Foundation's W-3. Form 990, Part VI, Section A, Line 7a Board members of Nonprofits Assistance Fund are recruited and selected by the board of NAF, but serve at the will of The Minneapolis Foundation Board of Trustees. The Minneapolis Foundation Board of Trustees formally appoints the directors of the NAF board in conjunction with the annual meeting of the NAF board of directors. This annual meeting is regularly the May board meeting. Form 990, Part VI, Section A, Line 7b As a supporting organization of The Minneapolis Foundation, and according to the bylaws of Nonprofits Assistance Fund, the Board of Trustees of The Minneapolis Foundation may at any time remove a director of the board of NAF. The Board of Trustees of TMF may also appoint a director to fill any 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, were presented to the Audit Committee of the Nonprofits Assistance Fund on June 4, 2014. The Form 990 was prepared by the Finance Director based on the audited financial statements. The Form 990 was then reviewed by the Executive Director. The Form 990 and the audited financial statements were presented to the full board for review at its August 2014 meeting. The Form 990 was then signed and transmitted by the August 15 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. 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 2014. Form 990, Part VI, Section C, Line 19 Nonprofits Assistance Fund makes its governing documents, conflict of interest policy, and financial statements available on its own website. Copies of the documents are also available in the NAF office. NAF governing documents include its articles of incorporation, bylaws, and IRS Form 1023. 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 Per the bylaws of Nonprofits Assistance Fund, the President and CEO of The Minneapolis Foundation, or his/her designee, serves as an ex-officio voting member of the NAF board. Sandra Vargas, the Foundation's President and CEO designated Jean Adams, the Chief Operating Officer of the Foundation, to serve on the NAF board. Ms. Adams works as a full-time employee of the Foundation. Form 990, Part XII Nonprofits Assistance Fund issues separate audited financial statements. The Minneapolis Foundation consolidates NAF financial statements into its own audited financial statements as well. Minneapolis Foundation 80 South 8th Street Suite 800 Minneapolis MN 55402 416029402 Philanthropy MN 501(c)(3) 7 N/A 0 TMF Investment LP Investment Partnership 80 South 8th Street Suite 800 Minneapolis MN 55402 411825828 Investing MN N/A Excluded 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0