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Community Development : Housing and Neighborhood Development

Initiative Foundation

To empower people to build thriving communities and a vibrant region across central Minnesota.

three stars

87.96

405 First Street, SE Little Falls, MN 56345
tel: (877) 632-9255   Web Site
EIN: 36-3451562

Board Leadership
Traci Tapani
Board Chair

CEO
Matt Varilek
President

  Score
(out of 100)
Rating
Overall Score & Rating 87.96 three stars
  Financial 87.01 three stars
  Accountability & Transparency 89.00 three stars
This rating was published 11/01/2019 and includes data from FY2018, the most recent 990 received at that time.

Created in 1986, the Initiative Foundation exists for one purpose, to improve the quality of life in central Minnesota. At the core of our work is the belief that local people possess the talent, passion and ability to achieve a brighter future. Our programs and investments strive to give every person an opportunity to contribute to a shared vision and plan of action that strengthens community character and relationships. Our mission is to unlock the power of central Minnesota people to build and sustain healthy communities. The Initiative Foundation serves 14 counties, 2 tribal nations, and 60 hometowns that comprise central Minnesota. Since 1986, we have invested more than $95.9 million in the region through targeted grants and business financing investments.

Created in 1986, the Initiative Foundation exists for one purpose, to improve the quality of life in central Minnesota. At the core of our work is the belief that local people possess the talent, passion and ability to achieve a brighter future. Our programs and investments strive to give every person an opportunity to contribute to a shared vision and plan of action that strengthens community character and relationships. Our mission is to unlock the power of central Minnesota people to build and sustain healthy communities. The Initiative Foundation serves 14 counties, 2 tribal nations, and 60 hometowns that comprise central Minnesota. Since 1986, we have invested more than $95.9 million in the region through targeted grants and business financing investments.

Impact Information

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This impact information is current as of August 2020, when it was provided to us by GuideStar. At this time, Impact information published on this organization's page has no effect on its rating per our methodology.

Financial

three stars

87.01

Accountability & Transparency

three stars

89.00

This rating was published 11/01/2019 and includes data from FY2018, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
76.1%
  Administrative Expenses 16.5%
  Fundraising Expenses 7.2%
  Fundraising Efficiency $0.08
  Working Capital Ratio (years) 6.59
  Program Expenses Growth 2.1%
  Liabilities to Assets 10.2%
All data for Financial Performance Metrics calculations was provided by Initiative Foundation on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Initiative Foundation on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Initiative Foundation (MN) 87.96 three stars
Citizens Committee for New York City (NY) 93.05 four stars
Brighton Park Neighborhood Council (IL) 90.03 four stars
Eastern Market Corporation (MI) 91.59 four stars
Mountain Association for Community Economic Development (KY) 94.54 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $4,087,816
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $86,411
   Related Organizations $0
   Government Grants $1,875,332
Total Contributions $6,049,559
   Program Service Revenue $734,255
Total Primary Revenue $6,783,814
   Other Revenue $2,488,805
TOTAL REVENUE $9,272,619
   
EXPENSES  
   Program Expenses $4,284,290
   Administrative Expenses $1,165,974
   Fundraising Expenses $473,962
TOTAL FUNCTIONAL EXPENSES $5,924,226
   
Payments to Affiliates $0
Excess (or Deficit) for the year $3,348,393
   
Net Assets $64,233,202

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Community and Nonprofit Development $1,628,267 38.0%
Economic Development & Business Lending $624,279 14.6%
Marketing, Communications & IQ Magazine $434,323 10.1%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2018-12 11/01/2019 87.96 three stars
2017-12 09/01/2018 92.11 four stars
2016-12 02/01/2018 87.24 three stars
2015-12 12/01/2016 89.06 three stars
2014-12 06/01/2016 90.04 four stars
 
CN 2.0
2014-12 12/22/2015 82.66 three stars
2013-12 06/01/2015 91.35 four stars
2012-12 05/01/2014 87.36 three stars
2011-12 02/01/2013 91.86 four stars
2010-12 03/01/2012 90.37 four stars
2009-12 09/20/2011 90.68 four stars
 
CN 1.0
2009-12 12/22/2010 92.46 four stars
2008-06 05/01/2009 97.96 four stars
2007-06 06/01/2008 85.85 three stars
2006-06 03/01/2007 93.27 four stars
2005-06 09/01/2006 87.69 three stars
2004-06 03/01/2005 91.54 four stars
2003-06 04/01/2004 94.81 four stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 36-3451562
Name in IRS Master File INITIATIVE FOUNDATION
NTEE Code S40
NTEE Classification Business and Industry
NTEE Type Community Improvement, Capacity Building
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (601) Booster club
Foundation Status Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date August, 1986
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End December
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • December, 2017
  • December, 2016
  • December, 2015
  • December, 2014
  • December, 2013
Compensation % of Expenses Paid to Title
$176,738 2.98% Matt Varilek President

Highly Rated

Charity Name & State Overall Score Overall Rating
Initiative Foundation (MN) 87.96 three stars
Enlace Chicago (IL) 89.94 three stars
Fund for the City of New York (NY) 87.83 three stars
Hands On Atlanta (GA) 85.88 three stars
Hispanics in Philanthropy (CA) 91.19 four stars

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This charity has an official representative registered with Charity Navigator.

Charity Contact Info

Initiative Foundation
405 First Street, SE
Little Falls, MN 56345
tel: (877) 632-9255
fax: (320) 632-9258
EIN: 36-3451562

Visit Web Site

Board Leadership

Traci Tapani
Board Chair

CEO

Matt Varilek
President

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