Financial Summary
FY14 Revenue & Support
17%
Total = $11,113,723
Investment Income = $6,448,375
Revenue & Support
5%
Endowment Contributions = $2,222,099 Program Contributions = $1,936,636 Other = $506, 613
20%
58%
Expenses
Expenses
Total = $4,163,735 Programs = $3,116,395
22%
Administration = $904,640 Fund Raising = $142,700
75%
Financial Position July 1, 2013 – June 30, 2014
Assets
2014
2013
Cash and Cash Equivalents
$640,191
$713,835
Grants/Contracts Receivable
$543,854
$75,033
$96,287
$215,136
$195,505
$161,422
Pledges Receivable Accrued Interest Receivable Other Receivables
$24,051
$3,517
Prepaid Expenses
$14,991
$12,399
Notes Receivable - Revolving Loan Fund
$ 3,824,313
$3,970,821
Investments
$51,237,045
$44,252,983
Other Equity Investments
$1,300,240
$1,191,818
Fixed Assets - Net of Accumulated Depreciation
$2,667,626
$2,864,384
$60,544,103
$53,461,348
Total Assets
Liabilities Deferred Revenue Program Grants/Scholarships Payable Other Liabilities
$1,747
$1,747
$224,363
$322,682
$143,744
$227,201
Mortgage Payable
$1,505,488
$1,195,549
Loans Payable
$1,020,661
$978,738
$250,000
$350,000
Granite Equity Partners Subscription Payable Annuity Payable Agency Endowment Liability
Total Liabilities
$400,530
$455,840
$1,722,804
$1,604,813
$5,269,337
$5,136, 570
Net Assets Unrestricted
$344,883
$424,628
Temporarily Restricted
$22,089,748
$17,323,114
Permanently Restricted
$32,840,135
$30,577,036
Total Net Assets
$55,274,766
$48,324,778
$60,544,103
$53,461,348
Total Liabilities and Net Assets
$
$4,282,902 TOTAL DONATIONS
3,321 DONORS New Component Funds FY14
362
COMPONENT FUNDS
18 NEW
New 2014 Component Funds Arvig Park Rapids Area Economic Development Fund Betty L. Murray Scholarship Fund Blackduck Drakes Athletic Fund Blackduck Education Endowment & Project Fund Friends of the Carnegie Library Fund Friends of the Fair Fund Grundyson Hudrik Scholarship Fund Howe-Thiel Charitable Fund Hubbard County Historical Society Fund Larry Diff ley Memorial Aviation Scholarship Fund Mildred Beckstrom Memorial Scholarship Fund Moon Life Science Scholarship Fund Orlo and Millie Melby Memorial Scholarship and Education Fund Susan I. Marvin Scholarship Fund Terry Dale-Pfister Scholarship Fund Upper Mississippi Center for the Arts Fund Warren Parks and Recreation Fund Your Source of Growth – A Wheat Research Fund
193
COMPONENT FUND GRANTS
156
SCHOLARSHIP AWARDS
Totaling $578,708
Totaling $110,300
TOTAL DOLLARS INVESTED
$1,866,415 IN NORTHWEST MINNESOTA
Nonprofit Training $40,000 –
1
$30,000 –
Nonprofit Assessment and Technical Assistance
2
$20,000 – $10,000 –
1 $40,715 2 $25,799 3 $17,076
Leadership
3
Training – Individual Excellence
STAR & Youth Leadership
12,887 STUDENTS
457
TEACHERS
1,158
OTHER ADULTS
Taught by STAR Teams
Total Investment $102,653
Early Childhood Initiative (ECI)
28 Early Childhood Grants totaling $28, 837
72
ECI Projects
Please visit www.nwmf.org for: » A complete list of donors » Component Funds » Grant Activity » Business Development for FY2014
Grant Program Summary $105,301
Caring Communities
$152,982
Community Planning $59,857
Community Connections
$101,800
Natural Resources IDEA Competition
$33,000
Grants Total $452,940
Business Finance & Development 67%
Entrepreneur Development
33%
Business Finance
$308,943 $150,000
14
# of businesses given
Business Total $509,387
TECHNICAL ASSISTANCE in amount of $50,444
To Apply for grants or loans please contact NMF staff. The Business Development Programs of the Northwest Minnesota Foundation receive funding and support from the Minnesota Department of Employment and Economic Development and United States Department of Agriculture Rural Development as well as the Small Business Administration and Fannie Mae.