2026-03-06T17:39:07-06:00 2025-06-30 393647910 WIPFLI ADVISORY LLC 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-07-01 922203589 NORTHWEST MINNESOTA COMMUNITY IMPACT CORPORATION NORT 2187592057 201 3RD ST NW BEMIDJI MN 566013111 KAREN WHITE PRESIDENT 2187592057 2026-02-17 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2026-02-17 2024 2025-03-06 01:10:19Z KAREN WHITE 201 3RD ST NW BEMIDJI MN 566013111 311726 0 X WWW.NWMF.ORG X 2023 MN NMCIC'S MISSION IS TO PROVIDE CAPITAL FOR COMMUNITY REVITALIZATION.THE NORTHWEST MINNESOTA COMMUNITY IMPACT CORPORATION WAS FORMED TO EXPAND NORTHWEST MINNESOTA FOUNDATION'S MISSION IN BUILDING BETTER LIVES FOR EVERYONE IN THE NORTHWEST MINNESOTA REGION. THE NMCIC ALLOWS FOR FINANCING AND EXPERTISE TO BETTER SERVE THE COMMUNITIES AND INDIVIDUALS WHO HAVE BEEN HISTORICALLY UNDERSERVED. THE NMCIC SUPPORTS A MORE PURPOSEFUL APPROACH IN THE COMMUNITIES AND POPULATIONS THAT HAVE HAD DIFFICULT TIME ACCESSING FUNDING AND CONTINUE SUPPORTING COMMUNITY REVITALIZATION. SINCE 1996, THE NORTHWEST MINNESOTA FOUNDATION HAS BEEN A CERTIFIED CDFI, A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, THROUGH THE U.S. DEPARTMENT OF THE TREASURY. THE PROGRAM PROVIDES FINANCING INTENDED TO SUPPORT COMMUNITY REVITALIZATION. THE CREATION OF THE NMCIC ALLOWS THE ORGANIZATION TO CONTINUE OUR WORK AS A CDFI WITH A DIFFERENT APPROACH. 12 12 0 20 0 0 0 300000 5247 5824 3955 4919 0 983 9202 311726 0 0 0 0 0 0 0 0 0 83884 101958 83884 101958 -74682 209768 505491 800677 116143 201561 389348 599116 X THE CORPORATION'S (CIC) PURPOSE IS TO BUILD BETTER LIVES BY REVITALIZING COMMUNITIES, EMPOWERING INDIVIDUALS, AND CREATING ECONOMIC OPPORTUNITIES. AS A COMMUNITY DEVELOPMENT ORGANIZATION, THE CORPORATION WILL PROVIDE CAPITAL SOLUTIONS TO PROJECTS THAT MAY NOT OTHERWISE RECEIVE SUPPORT FROM TRADITIONAL FINANCIAL INSTITUTIONS. THE CORPORATION WILL HELP COMMUNITIES AND INDIVIDUALS ACCOMPLISH GOALS IN UNDERSERVED AREAS, BY BRINGING EXPERTISE AND FILLING GAPS IN FUNDING. 0 0 101958 0 5824 IN 2025, NMCIC OPERATIONS INCREASED TO OVERSEE 6 LOANS TO BUSINESSES. WE HAVE RECEIVED CONDITIONAL APPROVAL OF OUR CDFI CERTIFICATION, PENDING RECEIPT OF THE OFFICIAL AGREEMENT FROM THE CDFI FUND, A DEPARTMENT OF THE U.S. TREASURY. 101958 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X SHANNON JESME 2187592057 201 3RD ST NW BEMIDJI MN 566013111 JASON CARLSON CHAIR 1.00 5.00 X X 0 0 0 BRUCE REEVES VICE CHAIR 1.00 5.00 X X 0 0 0 CONNIE LINDSTROM TREASURER 1.00 5.00 X X 0 0 0 CHERI GUNVALSON SECRETARY 1.00 5.00 X X 0 0 0 TODD BECKEL DIRECTOR (THRU JULY 24') 1.00 5.00 X X 0 0 0 ALISHA EVERWIND DIRECTOR 1.00 5.00 X 0 0 0 KAITLYN GRENIER DIRECTOR (THRU JULY 24') 1.00 5.00 X 0 0 0 CHRISTINE IMBRA DIRECTOR 1.00 5.00 X 0 0 0 JILL JOHNSON DIRECTOR 1.00 5.00 X 0 0 0 MIKE LAROQUE DIRECTOR 1.00 5.00 X 0 0 0 KYLE LARSON DIRECTOR 1.00 5.00 X 0 0 0 MICHELLE PAQUIN DIRECTOR (THRU JULY 24') 1.00 5.00 X 0 0 0 JACK SWANSON DIRECTOR 1.00 5.00 X 0 0 0 KRISTI THORFINNSON DIRECTOR 1.00 5.00 X 0 0 0 DEB ZAK DIRECTOR 1.00 5.00 X 0 0 0 KAREN WHITE PRESIDENT 1.00 40.00 X 0 195698 9785 0 195698 9785 0 0 1 0 0 300000 300000 INTEREST REVENUE - LOA 900099 5824 5824 5824 4919 4919 983 983 983 311726 5824 0 5902 X 94154 94154 LOAN EXPENSES 304 304 7500 7500 101958 101958 0 0 188956 302164 205218 210136 0 200000 111317 88377 505491 800677 116143 201561 116143 201561 X 389348 599116 389348 599116 505491 800677 209768 0 X 0 1 X 1 1 1 X 300000 300000 300000 300000 300000 1263 3955 4919 10137 310137 13443 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO NWMF 201561 201561 X PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION ON UNRELATED BUSINESS INCOME. IN ADDITION, THE FOUNDATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAVE BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE FOUNDATION IS ALSO EXEMPT FROM MINNESOTA INCOME TAXES. THE FOUNDATION EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES. MANAGEMENT DOES NOT BELIEVE IT HAS TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DO THEY BELIEVE THERE ARE ANY UNREALIZED TAX BENEFITS. 0 0 0 0 0 0 0 0 0 KAREN WHITE PRESIDENT 0 195698 0 0 0 0 0 9785 0 0 0 205483 0 0 PART I, LINE 1B THE PRESIDENT'S RELATED COMPENSATION IS SUBJECT TO ANNUAL REVIEW BY THE BOARD OF THE NORTHWEST MINNESOTA FOUNDATION, WHO THEN DETERMINES THE SALARY. THE DETERMINATION IS ALSO BASED ON EXTERNAL COMPENSATION DATA. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE PROVIDED TO AND REVIEWED BY THE BOARD PRIOR TO FILING. A DIGITAL COPY OF THE FINAL 990 DRAFT WILL BE SENT TO ALL BOARD MEMBERS AT LEAST A WEEK BEFORE THE BOARD MEETS AND BEFORE THE 990 IS OFFICIALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MUST YEARLY SIGN THE CONFLICT-OF-INTEREST POLICY, WHICH IS WRITTEN TO EMPHASIZE FAIRNESS, CONSISTENCY AND INTEGRITY IN ALL OF ITS DECISION MAKING. THE INTENT OF THE POLICY IS TO ENSURE THAT THERE WILL BE NO BASIS FOR LEGAL ACTION OR ACCUSATIONS OF SELF-DEALING. THE BOARD WILL EXCLUDE ANY MEMBER FROM ALL DELIBERATIONS AND DECISIONS CONCERNING ACTIONS ON PROJECT, SERVICE, OR OTHER MATTER PROPOSED FOR FUNDING IN WHICH SUCH MEMBER MAY HAVE A DIRECT OR INDIRECT FIDUCIARY INTEREST. ANY MEMBER OF THE BOARD MAY QUESTION ANOTHER BOARD MEMBER AS TO CONFLICT OF INTEREST, AND THE BOARD OF DIRECTORS AS A WHOLE WILL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ANNUAL REPORT TO THE COMMUNITY INCLUDES FINANCIAL STATEMENTS AND IS PUBLISHED ON THE WEBSITE. THE 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE 990 IS ALSO AVAILABLE ON THE GUIDESTAR WEBSITE, THE ORGANIZATIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE PUBLIC BUT ALSO AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 94,154. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 94,154. NORTHWEST MINNESOTA FOUNDATION 201 3RD ST NW BEMIDJI MN 55601 411556013 PHILANTHROPY MN 501(C)(3) LINE 7 N/A 0 NORTH STAR NEIGHBORS 201 3RD ST NW BEMIDJI MN 55601 932224498 HOUSING MN 501(C)(3) LINE 7 NORTHWEST MINNESOTA FOUNDATION 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0