SOUTHERN MINNESOTA INITIATIVE FOUNDATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHERN MINNESOTA INITIATIVE FOUNDATION (EIN 36-3454285)
- Tax period
- 2024-07-01 to 2025-06-30
- Filed
- 2026-04-29
- IRS object ID
- 202631199349300218
- Schema version
- 2024v5.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-04-29T07:57:32-05:00 | ReturnTs |
| Tax Period End | 2025-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST FIRST STREET SUITE 700 | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55802 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363454285 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHERN MINNESOTA INITIATIVE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 5074553215 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 FLORENCE AVE | AddressLine1Txt |
| City | OWATONNA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55060 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRIAN CONZEMIUS | PersonNm |
| Person Title | VICE PRESIDENT/CFO | PersonTitleTxt |
| Phone | 5074553215 | PhoneNum |
| Signature | 2026-04-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JULIE BOYER | PreparerPersonNm |
| PTIN | P01278549 | PTIN |
| Phone | 2187275025 | PhoneNum |
| Preparation | 2026-04-27 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BENYA KRAUS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 FLORENCE AVE | AddressLine1Txt |
| City | OWATONNA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55060 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $34,261,050 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.SMIFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1986 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | INVESTS FOR ECONOMIC GROWTH IN THE 20 COUNTIES OF SOUTH CENTRAL AND SOUTHEASTERN MINNESOTA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 16 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 16 | VotingMembersIndependentCnt |
| Total Employee | 22 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | -$9,953 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $6,130,483 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,473,500 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $199,701 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $222,811 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,030,453 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,312,979 | CYInvestmentIncomeAmt |
| PY Other Revenue | $67 | PYOtherRevenueAmt |
| CY Other Revenue | -$9,953 | CYOtherRevenueAmt |
| PY Total Revenue | $8,360,704 | PYTotalRevenueAmt |
| CY Total Revenue | $10,999,337 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,163,893 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $4,432,085 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,793,547 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,971,735 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $295,108 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,948,741 | PYOtherExpensesAmt |
| CY Other Expenses | $1,814,290 | CYOtherExpensesAmt |
| PY Total Expenses | $6,906,181 | PYTotalExpensesAmt |
| CY Total Expenses | $8,218,110 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,454,523 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,781,227 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $75,903,981 | TotalAssetsBOYAmt |
| Total Assets EOY | $80,878,325 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $9,058,949 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,024,009 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $66,845,032 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $71,854,316 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SOUTHERN MINNESOTA INITIATIVE FOUNDATION IS A REGIONAL DEVELOPMENT AND PHILANTHROPIC ORGANIZATION THAT FOSTERS ECONOMIC AND COMMUNITY VITALITY IN 20 COUNTIES OF SOUTHERN MINNESOTA THROUGH A CULTURE OF COLLABORATION AND PARTNERSHIP, WITH A FOCUS ON ENTREPRENEURS AND EARLY CHILDHOOD DEVELOPMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,872,279 | ExpenseAmt |
| Grant | $2,052,518 | GrantAmt |
| Revenue | $222,811 | RevenueAmt |
| Desc | SOUTHERN MINNESOTA INITIATIVE FOUNDATION PROVIDES GRANTS, LOANS AND TECHNICAL ASSISTANCE TO BUSINESSES, LOCAL GOVERNMENTS AND NONPROFIT ORGANIZATIONS THAT ACCELERATE THE CREATION OF NEW BUSINESSES AND INNOVATIVE VENTURES THAT WILL SHAPE OUR ECONOMY THROUGH PARTNERSHIPS IN OUR REGION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,123,258 | ExpenseAmt |
| Grant | $2,379,567 | GrantAmt |
| Desc | SOUTHERN MINNESOTA INITIATIVE FOUNDATION PROVIDES GRANTS, EDUCATIONAL RESOURCES AND TECHNICAL ASSISTANCE TO LOCAL GOVERNMENTS, COMMUNITY PARTNERSHIPS AND NONPROFIT ORGANIZATIONS IN EARLY CHILDHOOD EDUCATION. THE EARLY CHILDHOOD PROGRAM PROVIDES RESOURCES THAT STRENGTHEN EARLY CHILDHOOD EFFORTS SO THAT YOUNG CHILDREN WILL HAVE A HEALTHY LIFE OF LEARNING, ACHIEVING AND SUCCEEDING. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $6,995,537 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | Yes (1) | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 117 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 22 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| DAF Excess Business Holdings | 0 | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | 0 | TaxableDistributionsInd |
| Distribution To Donor | 0 | DistributionToDonorInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 16 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 16 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (1) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRIAN CONZEMIUS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5074553215 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 FLORENCE AVE | AddressLine1Txt |
| City | OWATONNA | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55060 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JAKE ANDERSON | |||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CHRIS SCHAD | |||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SHAWN VOGT SWEEN | |||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ERIN BAILEY | |||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DR ROBERT ALBRIGHT | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BETH BENIKE | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BOB MANN | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| IAN BENTS | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MATT COY | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BRAD HOINESS | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| IBRAHIM HUSSEIN | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| HEATHER MILLARD | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ANGEL URIBE | |||||||
| MEMBER AT LARGE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ALISSA BREKKE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MATT GOLDADE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMILA IBRAHIM | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| TIMOTHY PENNY | |||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $164,514 | $0 | $37,411 | ||
| BRIAN CONZEMIUS | |||||||
| VICE PRESIDENT/CFO | 40.00 | Yes (X) | $139,310 | $0 | $18,749 | ||
| PAMELA BISHOP | |||||||
| VP OF ECONOMIC DEVELOPMENT | 40.00 | $110,988 | $0 | $36,617 | Yes (X) | ||
| RAE JEAN HANSEN | |||||||
| VP OF EARLY CHILDHOOD | 40.00 | $123,228 | $0 | $7,630 | Yes (X) | ||
| ALISSA OELTJENBRUNS | |||||||
| VP OF PHILANTHROPHY | 40.00 | $104,700 | $0 | $5,235 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $642,740 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $105,642 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $2,033,094 | GovernmentGrantsAmt |
| All Other Contributions | $4,440,406 | AllOtherContributionsAmt |
| Noncash Contributions | $470,922 | NoncashContributionsAmt |
| Total Contributions | $6,473,500 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 525990 | $203,536 | $203,536 |
| PROJECT FEES & REVENUE | 525990 | $19,275 | $19,275 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $222,811 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,893,975 | TotalRevenueColumnAmt |
| Exclusion | $1,893,975 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $25,680,717 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $23,261,713 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,419,004 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,419,004 | TotalRevenueColumnAmt |
| Exclusion | $2,419,004 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|
| NORTHFIELD REAL ESTATE FUND II LL | 900099 | $426 | $426 |
| OWATONNA REAL ESTATE FUND LP K-1 | 900099 | -$333 | -$333 |
| WINONA REAL ESTATE FUND LP | 900099 | -$955 | -$955 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$9,091 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$9,091 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$9,953 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,999,337 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $222,811 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$9,953 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,312,979 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,069,727 | TotalAmt |
| Program Services | $3,069,727 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,362,358 | TotalAmt |
| Program Services | $1,362,358 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,198 | TotalAmt |
| Program Services | $261,727 | ProgramServicesAmt |
| Management And General | $64,667 | ManagementAndGeneralAmt |
| Fundraising | $34,804 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,292,589 | TotalAmt |
| Program Services | $936,619 | ProgramServicesAmt |
| Management And General | $231,419 | ManagementAndGeneralAmt |
| Fundraising | $124,551 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,017 | TotalAmt |
| Program Services | $43,078 | ProgramServicesAmt |
| Management And General | $9,717 | ManagementAndGeneralAmt |
| Fundraising | $7,222 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,794 | TotalAmt |
| Program Services | $114,331 | ProgramServicesAmt |
| Management And General | $6,083 | ManagementAndGeneralAmt |
| Fundraising | $17,380 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $120,137 | TotalAmt |
| Program Services | $86,634 | ProgramServicesAmt |
| Management And General | $21,485 | ManagementAndGeneralAmt |
| Fundraising | $12,018 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,365 | TotalAmt |
| Program Services | $7,533 | ProgramServicesAmt |
| Management And General | $5,512 | ManagementAndGeneralAmt |
| Fundraising | $7,320 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,568 | TotalAmt |
| Management And General | $75,568 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $304,900 | TotalAmt |
| Management And General | $304,900 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $436,526 | TotalAmt |
| Program Services | $301,265 | ProgramServicesAmt |
| Management And General | $131,517 | ManagementAndGeneralAmt |
| Fundraising | $3,744 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $164,060 | TotalAmt |
| Program Services | $136,495 | ProgramServicesAmt |
| Management And General | $3,813 | ManagementAndGeneralAmt |
| Fundraising | $23,752 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,499 | TotalAmt |
| Program Services | $100,914 | ProgramServicesAmt |
| Management And General | $10,681 | ManagementAndGeneralAmt |
| Fundraising | $13,904 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,626 | TotalAmt |
| Program Services | $10,937 | ProgramServicesAmt |
| Management And General | $940 | ManagementAndGeneralAmt |
| Fundraising | $3,749 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,030 | TotalAmt |
| Program Services | $5,019 | ProgramServicesAmt |
| Management And General | $1,185 | ManagementAndGeneralAmt |
| Fundraising | $826 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,478 | TotalAmt |
| Program Services | $31,414 | ProgramServicesAmt |
| Management And General | $16,408 | ManagementAndGeneralAmt |
| Fundraising | $5,656 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,605 | TotalAmt |
| Program Services | $137,901 | ProgramServicesAmt |
| Management And General | $2,966 | ManagementAndGeneralAmt |
| Fundraising | $2,738 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,491 | TotalAmt |
| Program Services | $9,714 | ProgramServicesAmt |
| Management And General | $1,047 | ManagementAndGeneralAmt |
| Fundraising | $730 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,313 | TotalAmt |
| Program Services | $22,354 | ProgramServicesAmt |
| Management And General | $5,278 | ManagementAndGeneralAmt |
| Fundraising | $3,681 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,759 | TotalAmt |
| Program Services | $28,394 | ProgramServicesAmt |
| Management And General | $6,696 | ManagementAndGeneralAmt |
| Fundraising | $4,669 | FundraisingAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| OPERATING EXPENSES | $253,139 | $239,718 | $8,478 | $4,943 |
| JANITORIAL & MAINTENANC | $73,604 | $50,644 | $10,468 | $12,492 |
| DUES AND SUBSCRIPTIONS | $58,327 | $38,761 | $8,637 | $10,929 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,218,110 | TotalAmt |
| Program Services | $6,995,537 | ProgramServicesAmt |
| Management And General | $927,465 | ManagementAndGeneralAmt |
| Fundraising | $295,108 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,174,951 | BOYAmt |
| EOY | $2,401,923 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $308,745 | BOYAmt |
| EOY | $159,447 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,825,868 | BOYAmt |
| EOY | $3,506,375 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,803 | BOYAmt |
| EOY | $29,189 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,146,824 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $714,778 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $463,359 | BOYAmt |
| EOY | $432,046 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,000,843 | BOYAmt |
| EOY | $74,331,104 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,412 | BOYAmt |
| EOY | $18,241 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,903,981 | BOYAmt |
| EOY | $80,878,325 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $135,121 | BOYAmt |
| EOY | $145,935 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,202 | BOYAmt |
| EOY | $12,434 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,126,549 | BOYAmt |
| EOY | $997,939 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,603,822 | BOYAmt |
| EOY | $4,748,809 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,701,883 | BOYAmt |
| EOY | $1,484,534 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,483,372 | BOYAmt |
| EOY | $1,634,358 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,058,949 | BOYAmt |
| EOY | $9,024,009 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,263,422 | BOYAmt |
| EOY | $30,250,576 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,581,610 | BOYAmt |
| EOY | $41,603,740 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,845,032 | BOYAmt |
| EOY | $71,854,316 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,903,981 | BOYAmt |
| EOY | $80,878,325 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,781,227 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $2,218,104 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $9,953 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $15,422,166 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $18,206,800 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,779,553 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,130,483 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $6,473,500 | CurrentTaxYearAmt |
| Total | $51,012,502 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $15,422,166 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $18,206,800 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,779,553 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,130,483 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $6,473,500 | CurrentTaxYearAmt |
| Total | $51,012,502 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $3,954,951 | SubstantialContributorsTotAmt |
| Public Support Total170 | $47,057,551 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,265,809 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,242,092 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,574,737 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,580,981 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,893,975 | CurrentTaxYearAmt |
| Total | $8,557,594 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $13,882 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus1 Year | $67 | CurrentTaxYearMinus1YearAmt |
| Total | $13,949 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $59,584,045 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $999,452 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.78980 | PublicSupportCY170Pct |
| Public Support PY170 | 0.78900 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $1,333 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $1,333 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II-B, LINE 1: | FormAndLineReferenceDesc |
| Explanation | SUPPORT FOR EARLY CHILDHOOD AND ECONOMIC DEVELOPMENT PROGRAMS | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Donor Advised Funds Held | 17 | DonorAdvisedFundsHeldCnt |
| Donor Advised Funds Contri | $797,156 | DonorAdvisedFundsContriAmt |
| Donor Advised Funds Grants | $514,572 | DonorAdvisedFundsGrantsAmt |
| Donor Advised Funds Vl EOY | $3,909,481 | DonorAdvisedFundsVlEOYAmt |
| Disclosed Org Leg Ctrl | Yes (1) | DisclosedOrgLegCtrlInd |
| Disclosed For Charitable Prps | Yes (1) | DisclosedForCharitablePrpsInd |
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $50,685,430 | BeginningYearBalanceAmt |
| Contributions | $841,584 | ContributionsAmt |
| Investment Earnings Or Losses | $5,256,785 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,986,057 | OtherExpendituresAmt |
| End Year Balance | $54,797,742 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $46,499,363 | BeginningYearBalanceAmt |
| Contributions | $740,072 | ContributionsAmt |
| Investment Earnings Or Losses | $5,504,216 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $2,058,221 | OtherExpendituresAmt |
| End Year Balance | $50,685,430 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $42,775,397 | BeginningYearBalanceAmt |
| Contributions | $1,339,007 | ContributionsAmt |
| Investment Earnings Or Losses | $4,243,536 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,858,577 | OtherExpendituresAmt |
| End Year Balance | $46,499,363 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $49,348,545 | BeginningYearBalanceAmt |
| Contributions | $1,606,157 | ContributionsAmt |
| Investment Earnings Or Losses | -$6,524,466 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,654,839 | OtherExpendituresAmt |
| End Year Balance | $42,775,397 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $39,807,166 | BeginningYearBalanceAmt |
| Contributions | $841,819 | ContributionsAmt |
| Investment Earnings Or Losses | $10,273,770 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,574,210 | OtherExpendituresAmt |
| End Year Balance | $49,348,545 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.36619 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.45489 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.17892 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $68,687 | OtherCostOrOtherBasisAmt |
| Book Value | $68,687 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $821,340 | OtherCostOrOtherBasisAmt |
| Depreciation | $469,021 | DepreciationAmt |
| Book Value | $352,319 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $256,797 | OtherCostOrOtherBasisAmt |
| Depreciation | $245,757 | DepreciationAmt |
| Book Value | $11,040 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $432,046 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| INVESTMENT IN PRIVATE COMPANIES | $1,030,290 | F |
| ENDOWMENT FUNDS | $53,683,613 | F |
| OTHER INVESTMENTS | $19,617,201 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $74,331,104 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | REFUNDABLE ADVANCES | Desc |
| Amt | $1,634,358 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,634,358 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $12,922,494 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $2,218,104 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $9,953 | OtherRevenueAmt |
| Revenue Not Reported | $2,228,057 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,694,437 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $304,900 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $304,900 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,999,337 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,913,210 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,913,210 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $304,900 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $304,900 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $8,218,110 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | INTENDING TO PRESERVE AND ENHANCE SUCH INVESTMENT FUNDS, THE HIRSCH FAMILY FOUNDATION DESIRES FOR SOUTHERN MINNESOTA INITIATIVE FOUNDATION (THE FOUNDATION) TO HOLD SUCH FUNDS, INVEST THEM IN A SOCIALLY RESPONSIBLE MANNER NOT INCONSISTENT WITH THE FOUNDATION'S CHARITABLE PURPOSES, AND DISTRIBUTE SUCH FUNDS, ALONG WITH THE EARNINGS THEREFROM, TO THE HIRSCH FAMILY FOUNDATION UPON REQUEST. |
| PART V, LINE 4: | SOUTHERN MINNESOTA INITIATIVE FOUNDATION HAS DEVELOPED A SPENDING POLICY WHICH USES UP TO 4.5% OF ITS ENDOWMENT BALANCE ANNUALLY TO SUPPORT ITS PROGRAMS AND ACTIVITIES. |
| PART X, LINE 2: | SOUTHERN MINNESOTA INITIATIVE FOUNDATION (THE FOUNDATION) IS EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. AT JUNE 30, 2025 AND 2024, THERE IS NO MATERIAL AMOUNT OF UNRELATED BUSINESS INCOME. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES. THE FOUNDATION HAS REVIEWED ITS TAX POSITIONS FOR ALL OPEN YEARS AND HAS CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRED ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISION OF THE GUIDANCE ON UNCERTAIN TAX POSITIONS. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS PRIOR TO THE FISCAL YEAR ENDED JUNE 30, 2022. THE FOUNDATION HAS NO FEDERAL OR STATE EXAMINATIONS IN PROCESS. THE FOUNDATION WOULD RECOGNIZE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE, IN INCURRED. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | UNRELATED BUSINESS LOSS 9,953. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (102 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A GREAT DAY FARM FOUNDATION | |||||||||||
| 5575 115TH ST E | NORTHFIELD | MN | 55057 | 464272037 | 501C3 | $10,000 | $0 | DUNDAS ADAPTIVE CYCLING: EXPANDING CYCLING OPPORTUNITIES FOR ADULTS WITH DISABILITIES | |||
| ACHLA - ALLIANCE OF CHICANOS HISPANICS AND LATIN AMERICANS | |||||||||||
| 315 ELTON HILLS DR NW SUITE 202 | ROCHESTER | MN | 55901 | 432058621 | 501C3 | $20,000 | $5,908 | ACHLA PROSPERITY INITIATIVE: BUILDING FINANCIAL FUTURES; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| ADAMS TOWN AND COUNTRY RECREATION POOL CORPORATION | |||||||||||
| ATTN SHERI HEIMER | ADAMS | MN | 55909 | 410908055 | 501C3 | $10,000 | $0 | DAY OF CARING | |||
| ALBERT LEA AREA SCHOOLS COMMUNITY EDUCATION | |||||||||||
| 211 RICHWAY DR W | ALBERT LEA | MN | 56007 | 416001171 | GOVERNMENT | $9,920 | $7,754 | TRAINING AND SUPPORT OF TIGER CUB CHILD CARE CENTER STAFF AND FAMILIES; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| ALDEN-CONGER PUBLIC SCHOOL EARLY CHILDHOOD EDUCATION | |||||||||||
| 215 BROADWAY N | ALDEN | MN | 56009 | 416045362 | GOVERNMENT | $0 | $6,129 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| ALLINA HEALTH | |||||||||||
| ALLINA HEALTH CLINIC | NORTHFIELD | MN | 55057 | 363261413 | 501C3 | $0 | $8,862 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| AUSTIN ASPIRES | |||||||||||
| 318 N MAIN STREET | AUSTIN | MN | 55912 | 465424422 | 501C3 | $20,000 | $0 | CHILDCARE SUPPORT INITIATIVE | |||
| AUSTIN PUBLIC SCHOOLS COMMUNITY LEARNING CENTER | |||||||||||
| 401 3RD AVE NW | AUSTIN | MN | 55912 | 416002526 | GOVERNMENT | $15,000 | $0 | EARLY CHILDHOOD - IMPLEMENTING BEST PRACTICES IN MENTAL AND PHYSICAL HEALTH | |||
| BLUE EARTH AREA SCHOOLS | |||||||||||
| 315 6TH ST E | BLUE EARTH | MN | 56013 | 411866487 | GOVERNMENT | $0 | $8,123 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| BLUE EARTH ECONOMIC DEVELOPMENT AUTHORITY | |||||||||||
| 201 7TH ST E | BLUE EARTH | MN | 560130038 | 416004991 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| BROWN COUNTY PUBLIC HEALTH | |||||||||||
| 1117 CENTER ST | NEW ULM | MN | 56073 | 416005765 | GOVERNMENT | $0 | $5,169 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| BYRON PUBLIC SCHOOLS | |||||||||||
| 630 1ST ST NW | BYRON | MN | 55920 | 416002825 | GOVERNMENT | $0 | $14,400 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| CANNON FALLS AREA CHAMBER OF COMMERCE | |||||||||||
| 127 4TH ST N | CANNON FALLS | MN | 55009 | 411360824 | 501C6 | $7,835 | $0 | CANNON FALLS VISUAL STORY TELLING | |||
| CARDINAL CLUB OF WEST CONCORD MN INC | |||||||||||
| PO BOX 333 | WEST CONCORD | MN | 55985 | 453586650 | 501C3 | $0 | $5,908 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| CHILDRENS MUSEUM OF ROCHESTER INC | |||||||||||
| 1201 12TH STREET SOUTHWEST | ROCHESTER | MN | 55902 | 842749957 | 501C3 | $0 | $14,769 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| CHILDREN'S MUSEUM OF SOUTHERN MINNESOTA | |||||||||||
| 224 LAMM ST | MANKATO | MN | 56001 | 204351801 | 501C3 | $11,749 | $0 | HEALTHY ME: INSIDE AND OUT! | |||
| CITY OF ADAMS | |||||||||||
| 303 MAIN ST W | ADAMS | MN | 559090357 | 416004913 | GOVERNMENT | $20,000 | $0 | ADAMS CHILDCARE INITIATIVE ACTIVATION | |||
| CITY OF CALEDONIA | |||||||||||
| 231 MAIN E | CALEDONIA | MN | 559210232 | 416005025 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF ELMORE | |||||||||||
| 201 E WILLIS ST | ELMORE | MN | 560270056 | 416005132 | GOVERNMENT | $15,000 | $0 | ELMORE ACTIVITY PARK | |||
| CITY OF EYOTA | |||||||||||
| 38 SOUTH FRONT ST SW | EYOTA | MN | 559340328 | 416005144 | GOVERNMENT | $6,925 | $0 | WEEKLY COMMUNITY WELCOME EVENT AND INFORMATION SHARING | |||
| CITY OF GIBBON | |||||||||||
| 985 1ST AVE | GIBBON | MN | 553350106 | 416005181 | GOVERNMENT | $25,000 | $0 | CLEAR LAKE PARK RESTROOM BUILDING | |||
| CITY OF GOODVIEW | |||||||||||
| 4140 5TH ST W | GOODVIEW | MN | 559871511 | 416005195 | GOVERNMENT | $25,000 | $0 | DREDGING OF LAKE GOODVIEW AT MICHAEL LACANNE MEMORIAL PARK | |||
| CITY OF KASSON | |||||||||||
| 401 5TH ST SE | KASSON | MN | 559442204 | 416005269 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF LAKE CRYSTAL | |||||||||||
| 100 ROBINSON ST E | LAKE CRYSTAL | MN | 560550086 | 416005294 | GOVERNMENT | $15,000 | $0 | LOCAL HISTORY MUSEUM | |||
| CITY OF LANESBORO | |||||||||||
| 202 PARKWAY AVE S | LANESBORO | MN | 559490333 | 416005308 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF MANTORVILLE | |||||||||||
| 21 5TH ST E | MANTORVILLE | MN | 55955 | 410850501 | GOVERNMENT | $10,000 | $0 | MAIN STREET BEAUTIFICATION | |||
| CITY OF MAPLETON | |||||||||||
| 104 2ND AVE NE | MAPLETON | MN | 560650366 | 416005347 | GOVERNMENT | $40,000 | $0 | EAGLES NEST UPDATE; RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF MONTGOMERY | |||||||||||
| 201 ASH AVE SW | MONTGOMERY | MN | 560691225 | 416005383 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF ORONOCO | |||||||||||
| 115 2ND ST NW | ORONOCO | MN | 559600195 | 410944643 | GOVERNMENT | $10,000 | $0 | ORONOCO COMMUNITY BRANDING STUDY | |||
| CITY OF PLAINVIEW | |||||||||||
| 241 BROADWAY W | PLAINVIEW | MN | 55964 | 411650465 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF PRESTON | |||||||||||
| 210 FILLMORE ST W | PRESTON | MN | 559650657 | 416005468 | GOVERNMENT | $25,000 | $0 | FOLLOW THE TROUT ROUTE! | |||
| CITY OF RUSHFORD VILLAGE | |||||||||||
| 43038 STATE HWY 30 | RUSHFORD VILLAGE | MN | 559715167 | 411265670 | GOVERNMENT | $12,000 | $0 | ADA COMPLIANT MERRY GO ROUND | |||
| CITY OF SAINT CHARLES | |||||||||||
| 830 WHITEWATER AVE | SAINT CHARLES | MN | 559721129 | 416005513 | GOVERNMENT | $10,000 | $0 | NEW CITY COMPREHENSIVE PLAN | |||
| CITY OF SHERBURN | |||||||||||
| 21 1ST ST E | SHERBURN | MN | 561710667 | 416005541 | GOVERNMENT | $25,000 | $0 | SHERBURN PARK REVITALIZATION INITIATIVE | |||
| CITY OF SPRING GROVE | |||||||||||
| 118 1ST AVE NW | SPRING GROVE | MN | 559740218 | 416005553 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| CITY OF SPRINGFIELD | |||||||||||
| 2 CENTRAL ST E | SPRINGFIELD | MN | 560871608 | 416005552 | GOVERNMENT | $27,125 | $0 | SPRINGFIELD STRATEGIC ECONOMIC AND HOUSING DEVELOPMENT PLAN; CHILDCARE START-UP PROGRAM | |||
| CITY OF WINTHROP | |||||||||||
| 305 MAIN ST N | WINTHROP | MN | 55396 | 416005653 | GOVERNMENT | $20,000 | $0 | RURAL ECONOMIC DEVELOPMENT PROJECTS | |||
| COLLIDER FOUNDATION | |||||||||||
| 221 1ST AVE SW STE 610 | ROCHESTER | MN | 55902 | 831815046 | 501C3 | $20,000 | $0 | COLLIDER COMMUNITY INCUBATOR | |||
| DODGE COUNTY ENVIRONMENTAL SERVICES | |||||||||||
| 721 N MAIN ST | MANTORVILLE | MN | 55955 | 416005790 | 501C3 | $10,000 | $0 | INTERPRETIVE SIGNAGE FOR RESTORATION PARK | |||
| ENGAGE OWATONNA | |||||||||||
| PO BOX 1015 | OWATONNA | MN | 550601015 | 363319497 | 501C3 | $10,000 | $0 | ENGAGE OWATONNA - ENGAGING THE COMMUNITY TO SHARE ALL VOICES AND PROMOTE INCLUSION | |||
| EXCHANGE CLUB CENTER FOR FAMILY UNITY | |||||||||||
| 1820 HARTLE AVE | OWATONNA | MN | 55060 | 363305404 | 501C3 | $20,000 | $0 | EARLY CHILDHOOD PARENT MENTOR IN-HOME PROGRAM TO PROVIDE EDUCATION AND SOCIAL-EMOTIONAL SUPPORT FOR CHILDREN AGES 0-5 | |||
| FAIRMONT ELEMENTARY SCHOOL | |||||||||||
| 714 VICTORIA STREET SUITE 101 | FAIRMONT | MN | 56031 | 412608101 | GOVERNMENT | $0 | $15,508 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| FAMILIES FIRST OF MINNESOTA | |||||||||||
| 126 WOODLAKE DR SE | ROCHESTER | MN | 55904 | 410987753 | 501C3 | $0 | $60,554 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| FARIBAULT PUBLIC SCHOOLS | |||||||||||
| DISTRICT OFFICE | FARIBAULT | MN | 55021 | 416003618 | GOVERNMENT | $20,000 | $6,646 | ECFE ON THE GO - BUILDING ON SUCCESS; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| FILLMORE CENTRAL PUBLIC SCHOOLS COMMUNITY EDUCATION | |||||||||||
| 702 CHATFIELD ST | PRESTON | MN | 559650050 | 411809022 | GOVERNMENT | $0 | $5,465 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| FILLMORE COUNTY PUBLIC HEALTH | |||||||||||
| 902 HOUSTON STREET NW SUITE 2 | PRESTON | MN | 55965 | 416005794 | GOVERNMENT | $0 | $6,646 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| FORWARD NEW PRAGUE FOUNDATION | |||||||||||
| 305 COLUMBUS AVE S | NEW PRAGUE | MN | 56071 | 921785025 | 501C3 | $9,685 | $0 | LANDSCAPING FOR THE PRAHA OUTDOOR PERFORMANCE STAGE (POPS) | |||
| GIBBON FAIRFAX WINTHROP SCHOOLS | |||||||||||
| 323 11TH ST E | GIBBON | MN | 55335 | 411721703 | GOVERNMENT | $10,000 | $0 | RESOURCE BUS | |||
| GOOD ACRE | |||||||||||
| 1790 LARPENTEUR AVE W | SAINT PAUL | MN | 55113 | 471663334 | 501C3 | $25,000 | $0 | GROWING PRODUCE FARMER OPPORTUNITIES | |||
| GOODHUE PUBLIC SCHOOLS | |||||||||||
| 510 3RD AVE | GOODHUE | MN | 55027 | 416008252 | GOVERNMENT | $0 | $6,646 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| HENDERSON FEATHERS DBA NATIONAL RUBY-THROATED HUMMINGBIRD CENTER | |||||||||||
| 205 6TH STREET SOUTH | HENDERSON | MN | 56044 | 271149431 | 501C3 | $10,000 | $0 | NATIONAL RUBY-THROATED HUMMINGBIRD CENTER EXHIBITS | |||
| HISPANIC ADVOCACY AND COMMUNITY EMPOWERMENT THROUGH RESEARCH | |||||||||||
| 155 WABASHA AVE S STE 105 | SAINT PAUL | MN | 55107 | 411900934 | 501C3 | $20,000 | $0 | EMPOWERING LATINA ENTREPRENEURS: A PATHWAY TO BUSINESS FORMALIZATION AND ECONOMIC GROWTH | |||
| INITIATIVE FOUNDATION | |||||||||||
| 405 1ST ST SE | LITTLE FALLS | MN | 56345 | 363451562 | 501C3 | $37,500 | $0 | RURAL VOICE PROJECT | |||
| JEREMIAH PROGRAM | |||||||||||
| 2915 JEREMIAH LN NW | ROCHESTER | MN | 55901 | 411801834 | 501C3 | $10,000 | $0 | EARLY CHILDHOOD BRIDGE SUPPORT FOR SINGLE MOTHERS EXPERIENCING POVERTY | |||
| KASSON-MANTORVILLE PUBLIC SCHOOLS COMMUNITY EDUCATION | |||||||||||
| 606 16TH ST NE | KASSON | MN | 55944 | 416008530 | GOVERNMENT | $13,000 | $0 | MENTORSHIP PROGRAM FOR EARLY EDUCATORS | |||
| KINGSLAND PUBLIC SCHOOLS COMMUNITY EDUCATION | |||||||||||
| 705 SECTION AVE N | SPRING VALLEY | MN | 55975 | 411740007 | GOVERNMENT | $0 | $5,908 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| LEO AUGUSTA CHILDREN'S ACADEMY | |||||||||||
| 824 CENTER AVE N | BLOOMING PRAIRIE | MN | 55917 | 862879682 | 501C3 | $42,000 | $0 | KEEPING OUR CHILDREN AND STAFF EDUCATED; KEEPING OUR CHILDREN WARM; SUPPORT OF BLOOMING PRAIRIE MAINSTREET | |||
| MADELIA COMMUNITY THEATRE INC | |||||||||||
| 80299 ELM CREEK RD | MADELIA | MN | 56062 | 411331768 | 501C3 | $10,000 | $0 | MADELIA ARTS COLLABORATIVE | |||
| MAINSPRING | |||||||||||
| 404 MAIN ST E | CALEDONIA | MN | 55921 | 834029189 | 501C3 | $10,000 | $0 | CALEDONIAS CREATIVE COMMUNITY DESIGN | |||
| MANKATO KIWANIS FOUNDATION | |||||||||||
| 100 WARREN ST SUITE 400 | MANKATO | MN | 56001 | 411908825 | 501C3 | $0 | $59,077 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| MINNESOTA FARMERS' MARKET ASSOCIATION | |||||||||||
| 9800 155TH STREET E | NERSTRAND | MN | 55053 | 900425842 | 501C3 | $100,000 | $0 | "GROW YOUR GREEN PROGRAM | |||
| MINNESOTA VALLEY ACTION COUNCIL | |||||||||||
| 706 N VICTORY DR | MANKATO | MN | 56001 | 416050353 | 501C3 | $0 | $8,123 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| MINORITY OWNED BUSINESS FOUNDATION | |||||||||||
| 1022 FOX KNOLL DR SW | ROCHESTER | MN | 55902 | 992001698 | 501C3 | $20,000 | $0 | MINORITY BUSINESS ACADEMY | |||
| MN AGRICULTURAL INTERPRETIVE CENTER | |||||||||||
| 7367 360TH AVE | WASECA | MN | 560930111 | 411326437 | 501C3 | $10,000 | $0 | CULTIVATING COMMUNITY: FARM TO FORK EXPERIENCES | |||
| MONTGOMERY ARTS AND HERITAGE CENTER | |||||||||||
| 206 FIRST ST N | MONTGOMERY | MN | 56069 | 270441502 | 501C3 | $10,000 | $0 | MONTGOMERY MUSEUM IN THE STREETS | |||
| NEW PRAGUE AREA COMMUNITY EDUCATION | |||||||||||
| CENTRAL EDUCATION CAMPUS | NEW PRAGUE | MN | 56071 | 416003815 | GOVERNMENT | $0 | $9,157 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| NEW PRAGUE AREA EARLY CHILDHOOD INITIATIVE | |||||||||||
| 410 CENTRAL AVE N STE 300 | NEW PRAGUE | MN | 56071 | 416003815 | GOVERNMENT | $12,000 | $0 | PLAYFUL SPACES, POWERFUL LEARNING: ENHANCING PRESCHOOL ENVIRONMENTS TO FOSTER GROWTH THROUGH PLAY | |||
| NEW ULM ECFE | |||||||||||
| 910 14TH ST N | NEW ULM | MN | 56073 | 416000373 | GOVERNMENT | $20,000 | $5,908 | READY FOR PLAY, READY FOR SCHOOL SUCCESS; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| NEXT CHAPTER INC | |||||||||||
| 2203 6TH AVE NW | AUSTIN | MN | 55912 | 871065176 | 501C3 | $0 | $15,508 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| NORTHFIELD HEALTHY COMMUNITY INITIATIVE | |||||||||||
| 1651 W JEFFERSON PKWY STE 128 | NORTHFIELD | MN | 550572760 | 262852506 | 501C3 | $0 | $8,862 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| NORTHFIELD PUBLIC SCHOOLS COMMUNITY EDUCATION | |||||||||||
| 700 LINCOLN PKWY | NORTHFIELD | MN | 55057 | 416008327 | GOVERNMENT | $15,000 | $12,554 | NORTHFIELD EXTENDED DAY; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| OWATONNA INCUBATOR INC | |||||||||||
| 1065 24TH AVE SW | OWATONNA | MN | 55060 | 411644556 | 501C3 | $20,000 | $0 | CO.STARTERS FOR OWATONNA AREA | |||
| OWATONNA SCHOOLS ISD 761 | |||||||||||
| 515 BRIDGE ST W | OWATONNA | MN | 55060 | 416005901 | GOVERNMENT | $0 | $8,492 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| PINE ISLAND PUBLIC SCHOOLS | |||||||||||
| 223 1ST AVE SE | PINE ISLAND | MN | 559630398 | 416001301 | GOVERNMENT | $15,600 | $0 | SMART FOR EARLY LEARNING CENTER | |||
| READ SEED INC | |||||||||||
| 403 22ND ST NW | AUSTIN | MN | 55912 | 923843584 | 501C3 | $0 | $8,123 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| RED WING IGNITE | |||||||||||
| 419 BUSH ST | RED WING | MN | 55066 | 461469707 | 501C3 | $16,600 | $0 | SOUTHEAST MN ACCELERATORS: 30 WEEKS / 15 ENTREPRENEURS / $10K WRAP AROUND SUPPORTS / 5 BUSINESSES; REGIONAL PLANNING | |||
| RED WING PUBLIC SCHOOLS | |||||||||||
| 2451 EAGLE RIDGE DR | RED WING | MN | 550667444 | 416001250 | GOVERNMENT | $0 | $7,385 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| REGION NINE DEVELOPMENT COMMISSION | |||||||||||
| 3 CIVIC CENTER PLZ STE 310 | MANKATO | MN | 560023367 | 410995425 | 501C3 | $60,000 | $0 | GROWING THE GROWER'S NETWORK; SUPPORT UNDERSERVED FARMERS IN SOUTH CENTRAL MINNESOTA | |||
| RENEWING THE COUNTRYSIDE II | |||||||||||
| 316 CENTER ST E | HAMMOND | MN | 55991 | 200189339 | 501C3 | $100,000 | $0 | EXPANDING IMPACTS IN SOUTHERN MINNESOTA'S FOOD SYSTEMS | |||
| RIVERWALK MARKET FAIR INCORPORATED | |||||||||||
| PO BOX 725 | NORTHFIELD | MN | 550570725 | 474013873 | 501C3 | $9,531 | $0 | RIVERWALK FARMERS MARKET ACCESS AND EDUCATION SCHOLARSHIP | |||
| ROCHESTER AREA ECONOMIC DEVELOPMENT INC | |||||||||||
| 221 1ST AVE SE STE 600 | ROCHESTER | MN | 55902 | 363414363 | 501C3 | $10,000 | $0 | 2025 SBDC WORKSHOP SERIES | |||
| ROCHESTER CATHOLIC SCHOOLS | |||||||||||
| 1710 INDURSTRIAL DR NW | ROCHESTER | MN | 55901 | 410740119 | GOVERNMENT | $6,500 | $0 | ROCHESTER CATHOLIC SCHOOLS SOCIAL EMOTIONAL LEARNING DEVELOPMENT & TRAINING | |||
| ROCHESTER PUBLIC SCHOOLS | |||||||||||
| HAWTHORNE EDUCATION CENTER | ROCHESTER | MN | 55904 | 416002803 | GOVERNMENT | $0 | $6,203 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| RUSHFORD AREA HISTORICAL SOCIETY | |||||||||||
| 401 ELM ST S | RUSHFORD | MN | 55971 | 411512233 | 501C3 | $7,500 | $0 | QUALITY STORAGE AND DISPLAYS OF HISTORIC ARTIFACTS | |||
| SHARING OUR ROOTS | |||||||||||
| 4905 315TH ST W | NORTHFIELD | MN | 55057 | 201788275 | 501C3 | $50,000 | $0 | CULTIVATING FOOD-BASED TRADITIONS AS EQUITABLE PATHWAYS TO FARMING | |||
| SLEEPY EYE EARLY CHILDHOOD FAMILY EDUCATION | |||||||||||
| 400 4TH AVE SW | SLEEPY EYE | MN | 56085 | 416000392 | GOVERNMENT | $15,561 | $0 | ECFE ON WHEELS | |||
| SOUTHERN MN EDUCATION CONSORTIUM | |||||||||||
| SOUTHERN MINNESOTA EDUCATION | AUSTIN | MN | 55912 | 270630742 | 501C3 | $0 | $5,908 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | CONSORTIUM |
| SPRINGFIELD CARES | |||||||||||
| 2 E CENTRAL | SPRINGFIELD | MN | 56087 | 333401163 | 501C3 | $10,000 | $0 | 501C3 CREATION | |||
| ST CHARLES REC CLUB | |||||||||||
| PO BOX 563 | ST CHARLES | MN | 55972 | 863380961 | 501C3 | $7,070 | $0 | BRIGHTENING MAIN STREET: DOWNTOWN BANNERS FOR A NEW ERA | |||
| ST JOHN'S GRANDKIDS VIK CLUB | |||||||||||
| 201 COUNTY RD 5 S | SPRINGFIELD | MN | 56087 | 410711592 | 501C3 | $12,000 | $0 | CENTER UPDATES | |||
| ST MARY'S SCHOOL | |||||||||||
| 308 EAST SOUTH STREET | CALEDONIA | MN | 55921 | 411359374 | 501C3 | $8,000 | $0 | PREK BREAKFAST/LUNCH PROJECT | |||
| STEELE COUNTY PUBLIC HEALTH | |||||||||||
| 635 FLORENCE AVE | OWATONNA | MN | 550604751 | 416005901 | GOVERNMENT | $0 | $5,538 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| STEP INC | |||||||||||
| 5 DOWNTOWN PLZ | FAIRMONT | MN | 56031 | 410874998 | 501C3 | $10,000 | $0 | ESSENTIALS BASKET PROJECT FOR COMMUNITY MEMBERS TO INCREASE AWARENESS AND DECREASE STIGMA | |||
| STEWARTVILLE COMMUNITY EDUCATION | |||||||||||
| 301 2ND STREET SW | STEWARTVILLE | MN | 55976 | 416008415 | GOVERNMENT | $10,000 | $0 | STEWARTVILLE EARLY CHILDHOOD BEHAVIOR TRAINING | |||
| THREE RIVERS COMMUNITY ACTION INCORPORATED | |||||||||||
| 1414 NORTH STAR DR | ZUMBROTA | MN | 55992 | 410906178 | 501C3 | $20,000 | $11,815 | LOCALLY DESIGNED FAMILY CHILD CARE MODEL; CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| TRI-CITY UNITED EARLY LEARNING | |||||||||||
| 101 2ND ST NE | MONTGOMERY | MN | 56069 | 453740004 | GOVERNMENT | $0 | $6,277 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| UNITED WAY OF STEELE COUNTY | |||||||||||
| 245 18TH ST SE STE 1 | OWATONNA | MN | 55060 | 237366680 | 501C3 | $0 | $18,092 | CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | FMV | BOOKS | |
| VILLAGE AGRICULTURAL COOPERATIVE | |||||||||||
| 3703 COUNTRY CLUB RD SW | ROCHESTER | MN | 55902 | 873766784 | 501C3 | $80,000 | $0 | GAINING CRITICAL CAPACITY FOR FARMING ENTREPRENEURS; FOOD AGGREGATION SUPPORT | |||
| VILLAGE OF LE ROY | |||||||||||
| 122 W MAIN ST | LE ROY | MN | 55951 | 416005312 | 501C3 | $10,000 | $0 | LE ROY MAIN STREET POCKET PARK | |||
| WASECA AREA NEIGHBORHOOD SERVICE CENTER | |||||||||||
| 203 3RD AVE NW | WASECA | MN | 56093 | 411452216 | 501C3 | $10,000 | $0 | FOOD SHELF | |||
| WASECA PUBLIC SCHOOLS COMMUNITY EDUCATION AND RECREATION | |||||||||||
| 501 ELM AVE E | WASECA | MN | 56093 | 416008759 | GOVERNMENT | $20,000 | $0 | EXPANDING CHILD CARE OFFERING FROM 33 MONTH+ TO INFANT AND TODDLER. | |||
| YOUNG WOMENS CHRISTIAN ASSOCIATION OF MANKATO | |||||||||||
| 222 PFAU ST STE 200 | MANKATO | MN | 56001 | 410711619 | 501C3 | $6,000 | $0 | NEW AMERICAN FAMILIES | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 101 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | HARDSHIP GRANTS FOR DISASTERS | GrantTypeTxt |
| Recipient | 53 | RecipientCnt |
| Cash Grant | $1,362,358 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | SOUTHERN MINNESOTA INITIATIVE FOUNDATION (THE FOUNDATION) PROVIDES GRANTS ON AN OPEN APPLICATION BASIS. THE REQUIREMENTS TO APPLY FOR GRANTS ARE POSTED ON THE FOUNDATION'S WEBSITE, AND ALSO ON THE RFP'S THAT ARE SENT OUT. THE FOUNDATION ALSO PROVIDES ASSISTANCE TO GRANT APPLICANTS AS NEEDED. THE FOUNDATION APPROVES GRANTS BASED ON THE REQUIREMENTS LISTED FOR THE APPLICATION, AND ALSO BASED ON ORGANIZATIONAL GUIDELINES AND BUDGET CONSTRAINTS. THE FOUNDATION REQUIRES THE APPLICANT TO FILL OUT AN APPLICATION AND UPON APPROVAL WILL NOTIFY THE APPLICANT, HAVE THEM SIGN A CONTRACT AND THE FOUNDATION WILL REQUIRE ON-GOING CORRESPONDENCES, SITE VISITS AND FINAL REPORTS DEMONSTRATING DOLLARS WERE SPENT ACCORDING TO THE FOUNDATION GRANT GUIDELINES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIMOTHY PENNY | ||||||||||||||
| PRESIDENT/CEO | $164,514 | $0 | $0 | $0 | $0 | $0 | $8,226 | $0 | $29,185 | $0 | $201,925 | $0 | $0 | $0 |
| BRIAN CONZEMIUS | ||||||||||||||
| VICE PRESIDENT/CFO | $139,310 | $0 | $0 | $0 | $0 | $0 | $6,966 | $0 | $11,783 | $0 | $158,059 | $0 | $0 | $0 |
Schedule M IRS990ScheduleM
Books And Publications BooksAndPublicationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Noncash Contributions Rpt F990 | $456,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $14,922 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | REPORTING THE NUMBER OF CONTRIBUTIONS | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI | MEETING MINUTES ARE TAKEN AND APPROVED AT EVERY MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE. THE 990 IS THEN MADE AVAILABLE FOR THE BOARD MEMBERS TO REVIEW AND THE FINANCE COMMITTEE'S APPROVAL IS RATIFIED BY THE BOARD PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE PURPOSE OF THE CONFLICT-OF-INTEREST POLICY IS TO PROTECT SMIF'S INTEREST WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF ONE OF OUR OFFICERS, DIRECTORS OR TRUSTEES, KEY EMPLOYEES OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. THIS POLICY IS INTENDED TO SUPPLEMENT, BUT NOT REPLACE, ANY APPLICABLE STATE AND FEDERAL GOVERNING CONFLICTS OF INTEREST. ALL CONFLICTS OF INTEREST SHOULD BE NOTED AND REPORTED ON THE CONFLICT OF INTEREST STATEMENT, WHICH IS REVIEWED BY THE EXECUTIVE & GOVERNANCE COMMITTEE FOR ACTIONS IF NEEDED. WHEN A TRUSTEE IS CONFLICTED ON A GIVEN TRANSACTION OR ISSUE THEY ARE EXPECTED TO INFORM THE PRESIDENT AND/OR CHAIR PRIOR TO THE MEETING. THE PRESIDENT AND/OR CHAIR WILL NOTE THAT ISSUE AND MAY DETERMINE THAT IT IS BEST THAT HE OR SHE LEAVE THE ROOM FOR THE DISCUSSION OR VOTE ON THAT ISSUE. IF THE BOARD HAS REASON TO BELIEVE AN INDIVIDUAL HAS FAILED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, THE PRESIDENT AND/OR CHAIR WILL INFORM THE MEMBER AND ALLOW HIM/HER TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF THE BOARD STILL HAS REASON TO BELIEVE A CONFLICT OF INTEREST EXISTS AFTER THE ALLEGED CONFLICT IS EXPLAINED, IT WILL TAKE CORRECTIVE ACTION, INCLUDING BUT NOT LIMITED TO DISMISSAL FROM THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE EXECUTIVE COMMITTEE OF THE BOARD IS RESPONSIBLE FOR SETTING AND REVIEWING THE PRESIDENT/CEO COMPENSATION AND REVIEW. THE EXECUTIVE COMMITTEE LEADS AN ANNUAL REVIEW OF THE PRESIDENT/CEO AND PRESENTS ITS FINDINGS TO THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE THEN USES BENCHMARK INFORMATION FROM SIMILAR ORGANIZATIONS AND BUDGETING CONSTRAINTS TO SET THE PRESIDENT/CEO'S ANNUAL SALARY INCREASE. THE EXECUTIVE COMMITTEE ALSO, AS NEEDED, USES OUTSIDE CONSULTANTS IN GATHERING THIS DATA. THE PRESIDENT/CEO COMPLETES THE REVIEW PROCESS AND SALARY ADJUSTMENTS FOR ALL SENIOR STAFF ALONG WITH THE VICE PRESIDENT AND CFO. THE INCREASES ARE BASED ON THE BUDGETARY LIMITS AND IN-LINE WITH YEARLY CPI INCREASES. BENCHMARKING DATA IS ALSO GATHERED FROM SIMILAR ORGANIZATIONS AND AN OUTSIDE CONSULTANT IS USED ON AN AS NEEDED BASIS TO DETERMINE RELEVANT BENCHMARKING DATA. THE ORGANIZATION MAINTAINS CONTEMPORANEOUS DOCUMENTATION RELATED TO THE COMPENSATION SETTING PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | SOUTHERN MINNESOTA INITIATIVE FOUNDATION'S AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). |
| FORM 990, PART XI, LINE 9: | UNRELATED BUSINESS LOSS 9,953. |
| FORM 990, PAGE 12, PART XII, LINE 2C: | THE FINANCE COMMITTEE APPROVES AND MANAGES THE AUDITOR SELECTION AND PROCESS YEARLY. THE FINANCE COMMITTEE MEETS WITH THE AUDITOR PRIOR TO ENGAGEMENT TO ANSWER ANY QUESTIONS OR CONCERNS RELATED TO THE UPCOMING AUDIT, AT THAT POINT THE FINANCE COMMITTEE APPROVES THE AUDITOR SELECTION FOR THE YEAR. THE COMMITTEE WILL THEN HAVE ON-GOING COMMUNICATION WITH THE AUDIT TEAM AS NECESSARY AND WILL MEET WITH THE AUDITOR UPON COMPLETION OF THE AUDIT FOR REVIEW AND FINAL APPROVAL OF THE AUDIT REPORT. THE BOARD WILL ALSO REVIEW AND MEET WITH THE AUDITOR AFTER THE AUDIT IS COMPLETED. |
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