$4.5M in expenses

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.

$4.3M in expenses

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.

$4.8M in expenses

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.

— in expenses

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.