Nonprofit · EIN 84-2716465
FORTIS CAPITAL
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,335,019 | $589,408 | $745,611 | $4,119,853 | $2,623,451 | $1,496,402 |
| December 31, 2023 | 990 | $1,392,728 | $721,541 | $671,187 | $2,995,170 | $2,244,379 | $750,791 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,127,311
- of which government grants
- $300,000
- Program service revenue
- $143,669
- Investment income
- $64,039
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $274,193
- Salaries, compensation and benefits (total)
- $292,990
- Professional fundraising fees
- $0
- Legal fees
- $30,025
- Accounting fees
- $11,088
- Travel
- $4,226
- Program services (functional)
- $400,104
- Management and general (functional)
- $152,061
- Fundraising (functional)
- $37,243
Balance sheet and other
- Total assets, start of year
- $2,995,170
- Total assets, end of year
- $4,119,853
- Total liabilities, end of year
- $2,623,451
- Net assets, end of year
- $1,496,402
- Net assets without donor restrictions
- -$10,080
- Net assets with donor restrictions
- $1,506,482
- Gross receipts
- $1,335,019
- Employees
- 2
- Volunteers
- 2
- Year formed
- 2019
- 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 |
|---|---|---|---|---|
| JAMES E TERRELL | PRESIDENT & COO Trustee or director, Officer | 35 | $125,000 | $16,992 |
| BRIAN K SMITH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 35 | $125,000 | $7,968 |
| SHAWN G HUCKLEBY | DIRECTOR Trustee or director | 0.25 | $0 | $0 |
| ANDREA L LARSON | DIRECTOR Trustee or director | 0.25 | $0 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES E TERRELL | PRESIDENT & CHIEF OPERATING OFFICER Trustee or director, Officer | 35 | $50,000 | $7,464 |
| BRIAN K SMITH | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 35 | $50,000 | $3,320 |
| SHAWN G HUCKLEBY | DIRECTOR Trustee or director | 0.25 | $0 | $0 |
| ANDREA L LARSON | DIRECTOR Trustee or director | 0.25 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 333 WASHINGTON AVE N STE 300, MINNEAPOLIS, MN 55401-1353
- In care of
- % CHRISTOPHER CRUTCHFIELD
- Mailing address (990-N for 2020)
- 1016 HYACINTH AVENUE EAST, Saint Paul MN 55106
- Principal officer (990 for 2024)
- BRIAN K SMITH, 333 WASHINGTON AVENUE N 300, MINNEAPOLIS, MN 55401
- Principal officer (990-N for 2020)
- Brian K Smith, 5801 Lyndale Avenue N, Brooklyn Center MN 55430
- Signed the 990
- BRIAN K SMITH, CHIEF EXECUTIVE OFFICER
- Phone
- (612) 389-1800
- Website
- WWW.FORTISCAP.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
OUR CHARITABLE PURPOSE AND MISSION IS TO FOSTER AND SUPPORT ECONOMIC DEVELOPMENT IN CHALLENGED COMMUNITIES AND FOR DISADVANTAGED PERSONS, PRIMARILY IN THE MINNEAPOLIS - SAINT PAUL METRO AREA, IN THE STATE OF MINNESOTA.
Program accomplishments
- FORTIS CAPITAL PARTICIPATION LOAN PROGRAM:THROUGH THIS PROGRAM, THE ORGANIZATION CAN REACH BORROWERS THAT WOULD NOT QUALIFY FOR LOANS OTHERWISE. THE ORGANIZATION DOES THIS BY PURCHASING UP TO 75% PARTICIPATION IN PARTNER APPROVED LOANS. THIS STRATEGY MITIGATES RISK AND ALLOWS THE ORGANIZATION'S LENDING PARTNERS TO PROVIDE AFFORDABLE DEBT CAPITAL THAT WOULD OTHERWISE BE UNAVAILABLE TO THESE ECONOMICALLY CHALLENGED BUSINESSES. OUR ACTIVITIES CONSIST OF MAKING PARTICIPATION LOANS AND MANAGING OUR PORTFOLIO, AS WELL AS WORKING WITH OUR LOAN CAPITAL FUNDERS AND OTHER FUNDERS.Expenses $400,104 · revenue $143,669
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
- 84-2716465
- 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
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $4,119,853
- Income (IRS master file)
- $1,335,019
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,335,019 | $589,408 | $4,119,853 | IRS |
| 990 | December 2023 | $1,392,728 | $721,541 | $2,995,170 | XML |
| 990 | December 2022 | $92,915 | $82,602 | $2,549,545 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-N for 2020 Officer: Brian K Smith | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
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 84-2716465).
Questions about FORTIS CAPITAL
- What is the EIN of FORTIS CAPITAL?
- The employer identification number (EIN) of FORTIS CAPITAL is 84-2716465.
- Is FORTIS CAPITAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to FORTIS CAPITAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FORTIS CAPITAL 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 FORTIS CAPITAL 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 FORTIS CAPITAL 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 FORTIS CAPITAL?
- The 990 for the year ended December 31, 2024 names BRIAN K SMITH.
- Who are the officers and directors of FORTIS CAPITAL?
- The 990 for the year ended December 31, 2024 lists 4 people; 2 received compensation from the organization, the highest $125,000 (JAMES E TERRELL, PRESIDENT & COO).
- How much revenue does FORTIS CAPITAL have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,335,019, expenses of $589,408 and total assets of $4,119,853 at year end.
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All nonprofits in MINNEAPOLIS · Minnesota · Community improvement and capacity building