Nonprofit · EIN 36-3451562
INITIATIVE FOUNDATION
Tax-exempt · LITTLE FALLS, MN 56345
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $15,215,240 | $15,713,243 | -$498,003 | $114,684,187 | $8,768,053 | $105,916,134 |
| December 31, 2023 | 990 | $10,031,903 | $9,362,176 | $669,727 | $109,008,159 | $8,449,199 | $100,558,960 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $10,289,793
- of which government grants
- $4,428,207
- Program service revenue
- $1,143,410
- Investment income
- $3,681,994
- Net rental income
- $4,940
- Net gain from sales of assets
- $1,308,768
- Net income from fundraising events
- $11,461
- Other revenue
- $100,043
Expenses
- Grants and similar amounts paid
- $9,989,131
- Compensation of officers, directors and key employees
- $519,049
- Other salaries and wages
- $1,969,543
- Salaries, compensation and benefits (total)
- $3,179,522
- Professional fundraising fees
- $0
- Legal fees
- $38,152
- Accounting fees
- $59,854
- Occupancy
- $91,433
- Travel
- $78,362
- Depreciation
- $54,189
- Program services (functional)
- $13,566,929
- Management and general (functional)
- $1,440,811
- Fundraising (functional)
- $705,503
Balance sheet and other
- Total assets, start of year
- $109,008,159
- Total assets, end of year
- $114,684,187
- Total liabilities, end of year
- $8,768,053
- Net assets, end of year
- $105,916,134
- Land, buildings and equipment
- $1,602,723
- Publicly traded securities
- $71,690,924
- Net assets without donor restrictions
- $57,901,107
- Net assets with donor restrictions
- $48,015,027
- Gross unrelated business income
- $51,599
- Gross receipts
- $27,023,625
- Employees
- 34
- Volunteers
- 226
- Year formed
- 1986
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRIAN VOERDING | PRESIDENT Officer | 40 | $165,828 | $28,057 |
| DON HICKMAN | VP FOR COMMUNITY & WORKFORCE (FORMER) Former | 40 | $148,367 | $27,540 |
| MICHELE MILLER | CFO Officer | 40 | $117,848 | $30,410 |
| DAVID MONROY | TRUSTEE/CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| KRISTI WESTBROCK | TRUSTEE/VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TERI HOGGARTH | TRUSTEE/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| BRETT ANDERSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CARRIE WILLIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAN WEBER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JESSICA BITZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE MULFORD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE NAYQUONABE JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JULIE NELSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KIM ELLINGSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATEO MACKBEE | TRUSTEE Trustee or director | 1 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBBYN WACKER | TRUSTEE (FORMER) Trustee or director | 1 | $0 |
| SANTO CRUZ | TRUSTEE Trustee or director | 1 | $0 |
| TIM NELSON | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LYNN BUSHINGER | COO/CFO/TREASURER (FORMER) Former | 40 | $205,443 | $48,149 |
| DON HICKMAN | VICE PRESIDENT FOR COMMUNI Highest-paid employee | 40 | $145,945 | $23,567 |
| MATT VARILEK | PRESIDENT (FORMER) Former | 40 | $134,549 | $18,049 |
| BRIAN VOERDING | PRESIDENT Officer | 40 | $109,471 | $23,567 |
| MICHELE MILLER | CFO Officer | 40 | $102,859 | $27,877 |
| KIM ELLINGSON | TRUSTEE/CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| DAVID MONROY | TRUSTEE/VICE-CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BRETT ANDERSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CARRIE WILLIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JESSICA BITZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE NAYQUONABE JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JULIE NELSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIM NELSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KRISTI WESTBROCK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATEO MACKBEE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBBYN WACKER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SANTO CRUZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TERI HOGGARTH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAN WEBER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE MULFORD | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 405 1ST ST SE, LITTLE FALLS, MN 56345-3007
- Principal officer (990 for 2024)
- BRIAN VOERDING, 405 FIRST STREET SE, LITTLE FALLS, MN 56345
- Signed the 990
- BRIAN VOERDING, PRESIDENT
- Phone
- (320) 632-9255
- Website
- WWW.IFOUND.ORG
- Return prepared by
- SCHLENNER WENNER & CO CPA'S PA
Mission
TO EMPOWER PEOPLE TO BUILD THRIVING COMMUNITIES AND A VIBRANT REGION ACROSS CENTRAL MINNESOTA.
Program accomplishments
- COMMUNITYCHILDCARE SOLUTIONS: THE CHILDCARE SOLUTIONS PROGRAM ENHANCES COMMUNITY AND WORKFORCE DEVELOPMENT THROUGH ACCESS TO AFFORDABLE, QUALITY CHILDCARE. IN 2024, $275,000 WAS ALLOCATED TO PARTNER ORGANIZATIONS TO FOSTER ECONOMIC GROWTH THROUGH EXPANDED CHILDCARE OPTIONS AND A SKILLED EARLY CHILDHOOD WORKFORCE. THE FOUNDATION FUNDED EFFORTS IN 10 CENTRAL MINNESOTA COMMUNITIES TO DEVELOP AND IMPLEMENT STRATEGIC PLANS ADDRESSING THE CHILDCARE SHORTAGE. THESE COMMUNITIES RECEIVED SPECIALIZED CHILDCARE CONSULTING AND TECHNICAL ASSISTANCE TO EXPLORE NEW PARTNERSHIPS AND CREATIVE SOLUTIONS WITH THE PUBLIC AND PRIVATE SECTORS. AS A RESULT, NEW CHILDCARE SUPPORT PROGRAMS WERE CREATED WITH EMPLOYERS, LOCAL UNITS OF GOVERNMENT, AND COMMUNITY ORGANIZATIONS. THESE EFFORTS RESULTED IN 10 CHILDCARE CENTERS OPENING MORE THAN 350 NEW SLOTS. ADDITIONALLY, 80 FAMILY CHILDCARE BUSINESSES WERE ESTABLISHED OR INCREASED THE NUMBER OF SLOTS, CREATING OVER 150 NEW CHILDCARE SLOTS IN THE REGION. FUNDING TO ATTRACT, TRAIN, AND MAINTAIN THE EARLY CARE WORKFORCE RESULTED IN SUPPORT FOR MORE THAN 700 EARLY CARE PROFESSIONALS. PRELIMINARY DESIGN BIDS TO CREATE OR EXPAND BUSINESSES, TRAINING AND SUPPORT TO ENHANCE BUSINESS PRACTICES, AS WELL AS OTHER DEVELOPMENTAL AND SAFETY TRAINING TO INCREASE QUALITY RATING SCORES AND EARLY POTENTIAL WERE FUNDED. THE THREE LOCAL REGIONAL COMMUNITY COLLEGES COLLABORATED ON EARLY CHILDHOOD WORKFORCE INITIATIVES, ENABLING STUDENTS TO OBTAIN SCHOLARSHIPS TO RECEIVE CREDENTIALS TO ENTER THE FIELD OR ADVANCE THEIR CAREERS.COMMUNITY RESILIENCY: OUR LONG-STANDING SUPPORT FOR ECONOMIC TRANSITION ASSOCIATED WITH THE DECOMMISSIONING OF THE SHERBURNE COUNTY COAL GENERATION STATION CONTINUES TO YIELD BENEFITS FOR BECKER AND OTHER SURROUNDING COMMUNITIES. OUR MOST RECENT PILOT PROJECT SUPPORTED AN ANALYSIS OF THE COST BENEFIT OF ENERGY INVESTMENTS AT ELK RIVER (SHERBURNE COUNTY) AND WALKER (CASS COUNTY) FOOD SHELVES. THIS ANALYSIS WILL HELP BOTH PARTNERS SECURE GRANTS FOR INSTALLATION SO THEY CAN QUICKLY RETIRE ANY DEBT AND GENERATE REVENUE. GRANTMAKING: OUR DISCRETIONARY GRANTMAKING DELIVERED OVER $365,000. WE SERVED AS THE STATE-WIDE ADMINISTRATIVE HUB FOR THE 2024 ROUND OF OTTO BREMER TRUST COMMUNITY RESPONSIVE FUND WHICH TOTALED $3 MILLION. WE AWARDED OVER $600,000 IN MINNESOTA MAIN STREET ECONOMIC REVITALIZATION GRANTS TO BUSINESSES WITHIN QUALIFIED COMMUNITIES. THE INVESTMENTS SERVED AS MATCHING FUNDS TO SPUR PRIVATE REINVESTMENT IN DOWNTOWNS.NONPROFIT DEVELOPMENT: THE NONPROFIT ACADEMY SUITE OF PROGRAMS, INCLUDING EXECUTIVE ROUNDTABLE, VIBRANT AND EQUITABLE COMMUNITIES COHORTS, FUNDRAISING SUMMITS, CONTINUOUS IMPROVEMENT, AND VARIOUS SINGLE-DAY TRAININGS AND LUNCHTIME LEARNING SESSIONS, SERVED 260 TOTAL ORGANIZATIONS AND MORE THAN 457 UNIQUE PARTICIPANTS ACROSS THE REGION. COHORT TRAININGS FOCUSED ON ORGANIZATIONS LED BY AND SERVING UNDERSERVED COMMUNITIES. IN 2024, THE NONPROFIT ACADEMY PROGRAM PROVIDED CONSULTING, TRAINING, AND SERVED AS A TRUSTED INTERMEDIARY TO AWARD ALMOST $1 MILLION IN GRANTS TO SUPPORT SPECIFIC REGIONAL NONPROFIT PROJECTS. NONPROFIT ACADEMY FURTHER REFINED THE FOUNDATION'S CONTINUOUS IMPROVEMENT PROGRAM, OPENING THE TRAINING TO LOCAL GOVERNMENT UNITS AND NONPROFIT ORGANIZATIONS.Expenses $4,462,559 · grants $3,594,000 · revenue $215,150
- ECONOMYLENDING: THE INITIATIVE FOUNDATION DEPLOYED 39 ECONOMIC DEVELOPMENT AND SMALL BUSINESS LOANS TOTALING $5,679,497. THE LENDING PROGRAM PROVIDES CAPITAL TO UNDERSERVED ENTREPRENEURS AND UNDERINVESTED COMMUNITIES, FROM MICROLOANS UNDER $50,000 TO LARGE GAP LOANS WITH THE POTENTIAL TO EXCEED $500,000. THIS FLEXIBILITY ALLOWS THE FOUNDATION TO SERVE STARTUPS TO ESTABLISHED BUSINESSES. LENDING IS FOCUSED ON GIVING ENTREPRENEURS A FAIR OPPORTUNITY AT WEALTH-BUILDING AND CREATING HIGH-QUALITY JOBS AND LOCALLY OWNED BUSINESSES. THE FOUNDATION MAINTAINS A WHOLLY OWNED SUBSIDIARY, THE INITIATIVE FOUNDATION IMPACT FUND, FOCUSED ON CDFI ACTIVITIES. THE IMPACT FUND DEPLOYED 12 LOANS TOTALING $829,528 USING INITIATIVE FOUNDATION STAFF THROUGH A MANAGEMENT SERVICES AGREEMENT. INITIATORS FELLOWSHIP: THE INITIATORS FELLOWSHIP IS A ONE-OF-A-KIND RURAL SOCIAL ENTERPRISE PROGRAM SERVING 53 COUNTIES AND SIX NATIVE NATIONS IN GREATER MINNESOTA. IT IS DEPLOYED IN PARTNERSHIP WITH THE SOUTHWEST INITIATIVE FOUNDATION, WEST CENTRAL INITIATIVE, AND NORTHWEST MINNESOTA FOUNDATION. THE PROGRAM HAS GRANTED 27 FELLOWSHIPS SINCE INCEPTION WITH PARTICIPANTS BENEFITING FROM MORE THAN $1.5 MILLION IN DIRECT PROGRAM INVESTMENTS RANGING FROM STIPENDS TO PROFESSIONAL DEVELOPMENT TO MENTORSHIP. IT HAS LEVERAGED OVER $5 MILLION IN OUTSIDE INVESTMENTS. THE FELLOWSHIP HAS BENEFITED FROM OVER 700 VOLUNTEER MENTORING AND ADVISING HOURS. THESE GREATER MINNESOTA LEADERS ARE BUILDING ECONOMIES AND IMPROVING QUALITY OF LIFE IN THEIR TOWNS BY DEVELOPING PURPOSE-DRIVEN BUSINESSES AND NONPROFIT ORGANIZATIONS.ENTERPRISE ACADEMY AND SMALL BUSINESS SUPPORT: THE ENTERPRISE ACADEMY PROGRAM PROVIDESBUSINESS TRAINING, ONE-ON-ONE TECHNICAL ASSISTANCE, AND LENDING TOUNDERSERVED ENTREPRENEURS. WE HAVE SERVED OVER 5,700 ENTREPRENEURS SINCE 2018. THIS INCLUDES 284 GRADUATES FROM ENTERPRISE ACADEMY, A 12-WEEK INTENSIVE BUSINESS TRAINING PROGRAM. IN 2024, THE PROGRAM GRADUATED COHORTS IN THE REGIONS OF SAINT CLOUD, LONG PRAIRIE, AND THE MILLE LACS TRIBAL ECONOMY. THE PROGRAM IS ONE OF THE FEW IN GREATER MINNESOTA DEDICATED TO ACCELERATING THE SUCCESS OF UNDERSERVED ENTREPRENEURS WITH COMPREHENSIVE SUPPORT AND TRAINING. IN 2024, PROGRAMS PROVIDED OVER 3,600 HOURS OF FREE ONE-ON-ONE AND GROUP BUSINESS COACHING TO MORE THAN 440 ENTREPRENEURS.WORKFORCE DEVELOPMENT: ATTRACTION, DEVELOPMENT, AND RETENTION OF A SKILLED WORKFORCEAREA PRIMARY INTEREST TO EMPLOYERS THROUGHOUT OUR REGION. TO SUPPORT GROWTH AND THE DEVELOPMENT OF TECHNOLOGY, TOOLS AND PROGRAMS TO ATTRACT AND RETAIN SKILLED WORKERS, THE FOUNDATION PROVIDED FUNDING AND OTHER SUPPORTS FOR LOCAL INITIATIVES, LINKING FUNDERS, EDUCATIONAL INSTITUTIONS, AND EMPLOYERS.Expenses $4,290,802 · grants $2,981,797 · revenue $965,243
- GENEROSITYPARTNER FUNDS: THE FOUNDATION'S 131 PARTNER FUNDS DELIVERED 351 GRANTS FOR OVER $1.4 MILLION IN AWARDS. THE AVERAGE GRANT IN 2024 WAS $4,079. TOTAL GRANTMAKING INCREASED IN 2024 COMPARED TO 2023 BOTH IN THE AGGREGATE AND AVERAGE GRANT AWARD. DONATIONS TO PARTNER FUNDS TOTALED $1,394,824 INCLUDING $605,200 TO ENDOWMENTS, $242,288 TO QUASI-ENDOWED FUNDS, $313,086 TO NON-ENDOWED FUNDS, AND $234,250 IN EVENTS REVENUE.Expenses $4,813,568 · grants $3,413,335
- IQ MAGAZINE: THE FOUNDATION PUBLISHED TWO EDITIONS OF IQ MAGAZINE IN 2024. THE MAGAZINE PROVIDES INCLUSIVE, SOLUTIONS-BASED EDITORIAL CONTENT AND PHOTOGRAPHY TO PROMOTE PROGRAMS, PARTNERSHIPS, OUTREACH EFFORTS, AND REGIONAL/STATEWIDE INITIATIVES THAT FOCUS ON ECONOMIC DEVELOPMENT, COMMUNITY DEVELOPMENT AND GENEROSITY. IQ MAGAZINE'S ROLE IN FILLING THE GROWING VOID AS TRADITIONAL NEWS OUTLETS SHRINK OR DISAPPEAR FROM THE MEDIA LANDSCAPE. IT IS THE LARGEST CIRCULATION PUBLICATION IN CENTRAL MINNESOTA.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3451562
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S400)
- Assets (IRS master file)
- $114,684,187
- Income (IRS master file)
- $27,023,625
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $15,215,240 | $15,713,243 | $114,684,187 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $10,031,903 | $9,362,176 | $109,008,159 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $18,836,412 | $16,266,746 | $98,819,361 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3451562).
Questions about INITIATIVE FOUNDATION
- What is the EIN of INITIATIVE FOUNDATION?
- The employer identification number (EIN) of INITIATIVE FOUNDATION is 36-3451562.
- Is INITIATIVE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to INITIATIVE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INITIATIVE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INITIATIVE FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INITIATIVE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INITIATIVE FOUNDATION?
- The 990 for the year ended December 31, 2024 names BRIAN VOERDING.
- Who are the officers and directors of INITIATIVE FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 18 people; 3 received compensation from the organization, the highest $165,828 (BRIAN VOERDING, PRESIDENT).
- How much revenue does INITIATIVE FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $15,215,240, expenses of $15,713,243 and total assets of $114,684,187 at year end.
Other nonprofits in LITTLE FALLS
- INITIATIVE FOUNDATION IMPACT FUND EIN 93-3064878 · last filed 990 for 2025
- WEST SIDE IMPROVEMENT ASSOCIATION EIN 20-0245360 · last filed 990-N for 2025
- NORTHERN PINES MENTAL HEALTH CENTER INC EIN 41-0875464 · last filed 990 for 2025
- TRI-COUNTY COMMUNITY ACTION PARTNERSHIP INC EIN 41-6050237 · last filed 990 for 2025
- LITTLE FALLS HEALTH SERVICES EIN 46-3626109 · last filed 990 for 2025
- EMPLOYMENT ENTERPRISES INC EIN 41-0966032 · last filed 990 for 2025
- MILITARY HISTORICAL SOCIETY OF MINNESOTA INC EIN 41-1308785 · last filed 990 for 2025
- OASIS CENTRAL MINNESOTA INC EIN 41-1620395 · last filed 990 for 2025
All nonprofits in LITTLE FALLS · Minnesota · Community improvement and capacity building