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Community Development : Housing and Neighborhood Development

Initiative Foundation

Unlocking the power of central Minnesota communities

three stars

87.24

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

Board Leadership
John E. Babcock
Board Chair

CEO
Matt Varilek
President

 
 
  Score
(out of 100)
Rating
Overall Score & Rating 87.24 three stars
  Financial 85.70 three stars
  Accountability & Transparency 89.00 three stars
This rating was published 02/01/2018 and includes data from FY2016, 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 exclusively serves the 14 counties and 160 hometowns that comprise central Minnesota. Since 1986, we have invested more than $53.5 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 exclusively serves the 14 counties and 160 hometowns that comprise central Minnesota. Since 1986, we have invested more than $53.5 million in the region through targeted grants and business financing investments.

Financial

three stars

85.70

Accountability & Transparency

three stars

89.00

This rating was published 02/01/2018 and includes data from FY2016, 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)
78.7%
  Administrative Expenses 13.9%
  Fundraising Expenses 7.3%
  Fundraising Efficiency $0.10
  Working Capital Ratio (years) 6.85
  Program Expenses Growth -1.1%
  Liabilities to Assets 6.3%
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) 87.24 three stars
Southern Minnesota Initiative Foundation (MN) 89.62 three stars
Metanoia (SC) 96.66 four stars
Chicago Cares (IL) 91.08 four stars
Catholic Charities CYO, Archdiocese of San Francisco (CA) 90.66 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $3,170,697
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $25,906
   Related Organizations $0
   Government Grants $1,011,962
Total Contributions $4,208,565
   Program Service Revenue $657,501
Total Primary Revenue $4,866,066
   Other Revenue $2,056,084
TOTAL REVENUE $6,922,150
   
EXPENSES  
   Program Expenses $4,596,410
   Administrative Expenses $929,363
   Fundraising Expenses $422,924
TOTAL FUNCTIONAL EXPENSES $5,948,697
   
Payments to Affiliates $0
Excess (or Deficit) for the year $973,453
   
Net Assets $59,079,332

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
Leadership & Community Development $2,488,642 54.1%
Economic Development & Business Lending $583,821 12.7%
Communications and IQ Magazine $537,883 11.7%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
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, 2016
  • December, 2015
  • December, 2014
  • December, 2013
  • December, 2012

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

Compensation % of Expenses Paid to Title
$177,743 2.98% Kathy Gaalswyk President

Highly Rated

Charity Name & State Overall Score Overall Rating
Initiative Foundation (MN) 87.24 three stars
Keep America Beautiful (CT) 86.77 three stars
Enterprise Community Partners (MD) 98.67 four stars
Women's Community Revitalization Project (PA) 88.88 three stars
Pillsbury United Communities (MN) 93.91 four stars

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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

John E. Babcock
Board Chair

CEO

Matt Varilek
President

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