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Community Development : Housing and Neighborhood Development

Southern Minnesota Initiative Foundation

Investments that break new ground

four stars

91.56

525 Florence Avenue P.O. Box 695
Owatonna, MN 55060
tel: (507) 455-3215   Web Site
EIN: 36-3454285

Board Leadership
Jennifer Sawyer
Board Chair

CEO
Tim Penny
President & CEO

  Score
(out of 100)
Rating
Overall Score & Rating 91.56 four stars
  Financial 95.39 four stars
  Accountability & Transparency 89.00 three stars
This rating was published 09/01/2016 and includes data from FY2015, the most recent 990 received at that time.

Learn more about how we calculate the overall score and rating.

Financial

four stars

95.39

Accountability & Transparency

three stars

89.00

This rating was published 09/01/2016 and includes data from FY2015, 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)
82.6%
  Administrative Expenses 13.9%
  Fundraising Expenses 3.3%
  Fundraising Efficiency $0.04
  Working Capital Ratio (years) 4.96
  Program Expenses Growth 4.1%
  Liabilities to Assets 9.6%
All data for Financial Performance Metrics calculations was provided by Southern Minnesota Initiative Foundation on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Southern Minnesota Initiative Foundation on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Southern Minnesota Initiative Foundation (MN) 91.56 four stars
University City District (PA) 91.01 four stars
Urban Homeworks (MN) 85.18 three stars
The Pike Place Market Foundation (WA) 91.35 four stars
Asian Pacific Environmental Network (CA) 91.29 four stars

Compare These Charities (Highly Rated)

Since 1986, Southern Minnesota Initiative Foundation has been a catalyst for economic growth in 20 Minnesota counties. We work to build a prosperous region with vibrant communities, innovative businesses and a skilled and valued workforce. To accomplish this, we invest in emerging businesses and the emerging workforce. We help businesses, local governments and nonprofit organizations find common ground, pool resources and achieve more. Since establishment, the Foundation has advanced economic development in the 20-county region with total investments of more than $38 million. In 2007, donors contributed to regional endowment funds valued at close to $27 million.

REVENUE  
Contributions  
   Contributions, Gifts & Grants $2,243,919
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $17,505
   Related Organizations $0
   Government Grants $426,638
Total Contributions $2,688,062
   Program Service Revenue $232,966
Total Primary Revenue $2,921,028
   Other Revenue $1,497,140
TOTAL REVENUE $4,418,168
   
EXPENSES  
   Program Expenses $3,300,181
   Administrative Expenses $609,930
   Fundraising Expenses $129,586
TOTAL FUNCTIONAL EXPENSES $4,039,697
   
Payments to Affiliates $0
Excess (or Deficit) for the year $378,471
   
Net Assets $40,164,781

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
Support for Early Childhood Education $1,505,583 45.6%
Support for New Business Ventures $1,262,697 38.3%
Americorps - Southern Minnesota Grant on Early Childhood $474,265 14.4%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2015-06 09/01/2016 91.56 four stars
2014-06 06/01/2016 89.19 three stars
 
CN 2.0
2014-06 09/01/2015 86.27 three stars
2013-06 08/01/2014 93.24 four stars
2012-06 08/01/2013 90.31 four stars
2011-06 05/01/2012 91.99 four stars
2010-06 09/20/2011 92.29 four stars
 
CN 1.0
2010-06 07/01/2011 91.64 four stars
2009-06 08/01/2010 98.47 four stars
2008-06 06/01/2009 98.16 four stars
2007-06 08/01/2008 83.00 three stars
2006-06 03/01/2007 77.46 two stars
2005-06 03/01/2006 81.91 three stars
2004-06 04/01/2005 82.28 three stars
2003-06 11/01/2004 90.46 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 36-3454285
Name in IRS Master File SOUTHERN MINNESOTA INITIATIVE FOUNDATION
NTEE Code S30
NTEE Classification Economic Development
NTEE Type Community Improvement, Capacity Building
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (429) Other inner city or community benefit activities
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 June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2015
  • June, 2014
  • June, 2013
  • June, 2012
  • June, 2011

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).

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Compensation % of Expenses Paid to Title
$157,365 3.89% Timothy Penny President, CEO

Since 1986, Southern Minnesota Initiative Foundation has been a catalyst for economic growth in 20 Minnesota counties. We work to build a prosperous region with vibrant communities, innovative businesses and a skilled and valued workforce. To accomplish this, we invest in emerging businesses and the emerging workforce. We help businesses, local governments and nonprofit organizations find common ground, pool resources and achieve more. Since establishment, the Foundation has advanced economic development in the 20-county region with total investments of more than $38 million. In 2007, donors contributed to regional endowment funds valued at close to $27 million.

Highly Rated

Charity Name & State Overall Score Overall Rating
Southern Minnesota Initiative Foundation (MN) 91.56 four stars
West Valley Community Services (CA) 89.39 three stars
Eastern Market Corporation (MI) 91.69 four stars
Metropolitan Planning Council (IL) 85.67 three stars
Jewish National Fund, United States (NY) 93.82 four stars

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Charity Contact Info

Southern Minnesota Initiative Foundation
525 Florence Avenue
P.O. Box 695
Owatonna, MN 55060
tel: (507) 455-3215
fax: (507) 455-2098
EIN: 36-3454285

Visit Web Site

Board Leadership

Jennifer Sawyer
Board Chair

CEO

Tim Penny
President & CEO

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