Financial Summary FY16
Financial Position
Revenue & Support
Expenses
Assets
Programs $4,102,702
Other $535,740
Program Contributions $2,443,854
Endowment Contributions $1,499,768
2016
Cash and Cash Equivalents
Total = $5,166,682
Total = $6,407,681
July 1, 2015 – June 30, 2016 $755,159
Restricted Cash
$123,660
$141,621
Grants/Contracts Receivable
$393,234
$422,707
Pledges Receivable
Administration $886,463
$11,896
$47,565
$166,122
$191,737
Other Receivables
$5,008
$13,854
Prepaid Expenses
$11,711
$10,823
$3,480,526
$3,309,134
$54,296,371
$53,672,002
Accrued Interest Receivable
Notes Receivable - Revolving Loan Fund Investments Other Equity Investments
$1,662,125
$1,512,530
Fixed Assets - Net of Accumulated Depreciation
$3,419,309
$3,313,519
$64,325,121
$63,308,373
Total Assets Fund Raising $177,517
$64,325,121
Investment Income $1,928,319
Total Assets as of June 30, 2016
$996,790
Loans Payable
$905,487
$828,192
$50,000
$150,000
Unrestricted
Total = $58,970
x
$391,829
$1,760,126
$1,755,020
$4,355,268
$4,579,519
$180,925
$209,458 $22,470,673
Permanently Restricted
$37,607,887
$36,048,723
Total Net Assets
$59,969,853
$58,728,854
$64,325,121
$63,308,373
Grant Programs Total = $442,110
31 Early Childhood Grants
$337,825
$22,181,041
Temporarily Restricted
Total Liabilities and Net Assets
$35,000
IDEA Competition
$166,960
$156,473 $940,297
Net Assets
$94,157
$51,747 $238,981
Other Liabilities
Total Liabilties
$170,360
$5,747 $199,313
Mortgage Payable
Agency Endowment Liability
Community Planning Natural Resources
Program Grants/Scholarships Payable
Granite Equity Partners Subscription Payable
$105,293
Caring Communities
Liabilities
Deferred Revenue
Annuity Payable
$37,300
Community Connections
2015
$672,881
Greetings!
Nonprofit Training & Leadership
Early Childhood Conferences & Training
$11,596
»» United for Children Conference = 110
Nonprofit Assessment & Technical Assistance
»» Quest for Quality Early Childhood Conference = 75
$22,912
»» Thrive Professional Education Series = 96 »» Creative Curriculum Training = 27
Leadership
312 PARTICIPANTS
$30,596 Training
Pete Haddeland
Serving as chairman of the board of the Northwest Minnesota Foundation, I am grateful and humbled to be learning much more than I am able to contribute. With this organization’s 30-year history, there is much to be proud of and celebrate. This year’s annual report will show you just a small part of that history.
As a board member, I have had the opportunity to meet many great people who do great things for their communities and the region. Above all, I have learned that in 30 years there are few places in our region that NMF has not touched. Still, NMF’s reach has little to do with the organization and everything to do with the people we serve. Our every initiative depends upon the people on the ground doing the work and sharing ideas about how to help their communities. Creative ideas for new business or philanthropic enterprises help us realize our vision. Please join us in support of the NMF endowment by making a donation within your means. We are working to make every bit of the next 30 years as successful as the last 30 years. Together, we can make this region an even better place to live and work.
Business
Celebrating 30 years!
FINANCE
Entrepreneur
DEVELOPMENT
Business Technical
$971,500
$278,200
$49,621
Business Total = $1,299,321
ASSISTANCE
Sincerely, Pete Haddeland, Chairman NMF Board of Directors
ANNUAL REPORT | 2016 FISCAL YEAR: JULY 1, 2015 – JUNE 30, 2016
OUR MISSION:
The Northwest Minnesota Foundation invests resources, facilitates collaboration, and promotes philanthropy to make the region a better place to live and work.
Grant Programs
Early Childhood Initiative (ECI)
Business Finance & Development
The Northwest Minnesota
Northwest Minnesota boasts two large conferences hosted by local
Hillcrest Senior Living (HSL) is an
Foundation supported
ECI coalitions each year. The Hubbard County ECI
assisted living facility in Red Lake
Minnesota Housing
hosts the United for Children Conference in
Falls. This community vitality
Partnership’s Native
Park Rapids, and the Thief River Falls
project was a collaboration with
Community Development
ECI hosts Quest for Quality Early
lenders from Unity Bank of Red
Institute with a
Childhood conference at Challenger
Lake Falls and Minnesota Business
$25,000 grant from the
Elementary School. The ten
Finance Corporation in St. Cloud.
Community Planning
coalitions also host a myriad of
Grant Program.
local training sessions for early childhood providers in their
This yearlong pilot program engaged agency directors and
White Ear th Team
Community literacy
nations to address housing and community issues. White Earth, Red
programs are a main
Lake, and Leech Lake participated in this peer learning and planning
priority to increase
cohort program. White Earth will pursue supportive housing efforts to
reading in the homes
alleviate homelessness on the reservation. Red Lake is working to update
of families with young
a comprehensive land use plan to protect natural resources and improve
children, regardless of income.
infrastructure for housing and commercial spaces. Leech Lake developed
Every year, NMF’s ECIs distribute thousands
a workforce development center for community members. This was a
of free books to families in need.
across the state.
support and services for young children and families.
The most welcome news was relayed to Northwest
in Crookston, where he participated in basketball, track, and band.
Minnesota Foundation in February when Charles Swanson, a
He served in the U.S. Army during World War II and then returned home to
than $360,000 to the general endowment. Donations are regularly received to support our component Charles Swanson
funds, but it isn’t often that such a large gift is given
to support the overall work the foundation does within the region. Endowment growth gives us the means to better address changing needs. Charles’ generosity helps us to fulfill our mission to make the region a better place to live and work.
residents 55 and older. Community vitality projects are a preferred business finance credit because of the larger regional impact: expanded goods and services, employment, business opportunities, adding to the tax base, and in this case, a needed housing option for seniors. The project also enhances quality of place and it is proving to be a vital renovation for Red Lake Falls.
Infant and early childhood mental health programs, such as visiting and reflective practice, are meant to strengthen
Red Lake Falls, Minnesota farmer, bequeathed a gift of more
there are 13 suites and a ten-bed area for
communities each year.
community members from three Native
successful program and will be replicated in other Native communities
In addition to the memory care area,
run the Swanson family farm, which bordered Red Lake and Pennington counties. Swanson raised livestock, grew small grains, and enjoyed the farm life. In his spare time, he liked reading, bird-watching, and traveling. Charles’ financial advisor, Pat Thibert of Edward Jones, was instrumental in connecting Swanson to NMF after learning of his desire to leave a legacy that would benefit Northwest Minnesota. It is one of the services that our community foundation alone can accomplish for donors who want
Charles was born in 1926 in Red Lake Falls and attended
to improve the quality of life for future generations. The
church and high school in St. Hilaire, Minnesota. He
pieces come together for a meaningful gift that meets
graduated in 1947 from the Northwest School of Agriculture
bequest objectives.
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.
Donors & New Component Funds FY16
3,139
DONORS
$3,714,687
TOTAL DONATIONS
394
COMPONENT FUND GRANTS
$1,129,341
NEW
23
TOTAL # COMPONENT FUNDS
23 New Component Funds FY16 Ada-Borup Community Fund Hallock Area Community Fund Thief River Falls Area Community Fund Bemidji Downtown Gateway Arch Project Fund BGCWER Capital Projects Fund Crookston Area Disaster Recovery and Resiliency Fund Hallock Community Revitalization Fund Nameless Coalition – The Bridge Transitional Housing Fund Roseau Area Disaster Recovery and Resiliency Fund Thief River Falls Rotary Fund White Earth Reservation Disaster Recover and Resiliency Fund Beverly Rowland Fund Dennis Aguiar Scholarship Fund Fosston Schools Facilities Fund Fr. Don Braukman Scholarship Fund Frances McNeill Karlsson Arts Fund Impact 20/20 College Collaborative Scholarship TEAM Industries – Don Ricke Scholarship Fund Argyle Parks and Recreation Fund Blackduck Trestle and Trails Fund Fertile Parks and Trails Fund Friends of Itasca State Park Fund Hallock Area Parks and Recreation Fund School Trap Club Fund
351