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: Verified by RoundPaper

FY 2023

Verified NonprofitLast Filed 2023EIN 41-1556013

The Northwest Minnesota Foundation

BEMIDJI, MNNTEE: W110Founded 1986Website

mission statement

Invests resources, facilitates collaboration and promotes philanthropy in NW MN.

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Total Revenue

$13.0M

FY 2023

Program Spending

78.2%

of total expenses

Known Funders

2019–2024 filings

Key Metrics (FY 2023)

The Numbers

$103.4M

Total Assets

$96.8M net

91.37 mo

Operating Reserves

FY 2023

+66%

Revenue Growth

YoY

Total Employees

FY 2023

Funding Track Record

Backed by 33 Institutional Funders

$20.5M raised across 88 grants (2019–2024 filings)

Funder Geography

Funders across 12 states (2019–2024 filings)

Institutional Funding by Year

Funder	Location	Total Awarded
The McKnight Foundation	Minneapolis, MN	$8,000,000
Margaret A Cargill Foundation	EDEN PRAIRIE, MN	$5,500,000
The Richard and Carole Hebert	MESA, AZ	$2,413,075
The Minneapolis Foundation	MINNEAPOLIS, MN	$981,100
BCBSM Foundation Inc	St Paul, MN	$823,900
Southwest Initiative Foundation	HUTCHINSON, MN	$480,000
Saint Paul & Minnesota Foundation	SAINT PAUL, MN	$471,080
Fidelity Investments Charitable Gift Fund	BOSTON, MA	$329,463
Delta Dental of Minnesota Foundation	MINNEAPOLIS, MN	$274,110
Charles K Blandin Foundation	GRAND RAPIDS, MN	$245,000

Total tracked: $20,490,381 across 88 grants (2019–2024 filings)

Programs (FY 2023)

What They Do

$9.9M in expenses

The northwest minnesota foundation (NMF) demonstrated remarkable commitment and impact throughout fiscal year 2024, fostering growth, connectivity, and community well-being in the region. This comprehensive summary encompasses the cumulative results of NMFS activities and services, showcasing a diverse range of initiatives aimed at philanthropy, business support, and mission-driven grants.philanthropy: component, community, and scholarship funds: NMF's philanthropic efforts played a central role in shaping the regions socio-economic landscape. The foundation dispersed a substantial total of $2.1 million through its component, community and scholarship funds, reflecting a comprehensive approach to community development. Scholarships: a cumulative sum of $333k was dedicated to providing 262 scholarships, emphasizing NMF's commitment to education and skill development. Component and community funds: a cumulative sum of $1.73m was granted to support communities and donor giving interests. This funding bolstered various initiatives, including senior living, animal shelters, boy scouts, rotarians, community development, churches, homeless shelters, conservation, arts, medical care and services, environmental and recreation initiatives, local cities, school districts, and nonprofit organizations reinforcing NMF's dedication to community development.

— in expenses

Business loans and support: NMF's commitment to economic development manifested in robust support for small businesses, with a cumulative total of $883k approved across 34 loans throughout the fiscal year. Loan programs include: SBA microloans: strategic use of the small business administration (SBA) microloan program facilitated economic growth. Emerging entrepreneur loan program: this program supported a business in polk county, contributing to the economic vibrancy of the region.

— in expenses

Mission-driven grants - NMF mission-driven grants were pivotal in addressing societal challenges and promoting community resilience, with a cumulative total of $4.154m (PY $933,000) approved throughout fiscal year 2024. NMFS commitment to community revitalization 34 grants in 2024 and $2.1m through the main street revitalization program with funding through MN employment and economic development. The promise ACT grant program awarded 50 grants totaling $1.1m. Training and education grants: supporting nonprofit organizations capacity-building initiatives, conferences, programming, and consultant services for board and staff development. DEI grants: promoting diversity, equity, and inclusion. Homelessness grants: supporting transportation services for families to area shelters as needed. Housing grants: supporting market research and development of a region-wide workforce study, housing developers training, and specific community-driven housing projects. Innovation grants: supporting the expansion of addition-related services and innovative solutions to regional challenges.conclusion - the cumulative impact of NMF's initiatives throughout fiscal year 2024 reflects a foundation deeply embedded in the fabric of northwest minnesota. From robust philanthropic efforts, bolstering education, healthcare, and cultural endeavors, to strategic support for small businesses and innovative mission-driven grants, NMF has played a pivotal role in shaping the region's economic and social landscape. As the foundation looks forward to future endeavors, its commitment to connecting people, places, and possibilities remains unwavering, fostering boundless opportunities for the residents of northwest minnesota.

Financial History