Disable all preview features

Community Development : Housing and Neighborhood Development

Southern Minnesota Initiative Foundation

Investments that break new ground

three stars

89.62

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 89.62 three stars
  Financial 90.30 four stars
  Accountability & Transparency 89.00 three stars
This rating was published 10/01/2017 and includes data from FY2016, the most recent 990 received at that time.

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

Financial

four stars

90.30

Accountability & Transparency

three stars

89.00

This rating was published 10/01/2017 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)
82.2%
  Administrative Expenses 14.2%
  Fundraising Expenses 3.4%
  Fundraising Efficiency $0.04
  Working Capital Ratio (years) 4.76
  Program Expenses Growth 0.1%
  Liabilities to Assets 8.3%
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) 89.62 three stars
Center for Community Change (DC) 91.54 four stars
Urban Homeworks (MN) 85.18 three stars
Puente (CA) 96.11 four stars
Fund for the City of New York (NY) 88.75 three 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 $3,550,031
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $57,290
   Related Organizations $0
   Government Grants $819,208
Total Contributions $4,426,529
   Program Service Revenue $241,946
Total Primary Revenue $4,668,475
   Other Revenue $1,124,379
TOTAL REVENUE $5,792,854
   
EXPENSES  
   Program Expenses $3,441,110
   Administrative Expenses $566,653
   Fundraising Expenses $164,401
TOTAL FUNCTIONAL EXPENSES $4,172,164
   
Payments to Affiliates $0
Excess (or Deficit) for the year $1,620,690
   
Net Assets $40,073,026

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 New Business Ventures $1,527,318 44.4%
Support for Early Childhood Education $1,002,957 29.1%
Americorps - Southern Minnesota Grant on Early Childhood $540,677 15.7%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2016-06 10/01/2017 89.62 three stars
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, 2016
  • June, 2015
  • June, 2014
  • June, 2013
  • June, 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).

We invite you to share your opinions, thoughts, experiences, and stories about this charity here to help inform the decisions of other donors.  
Need more help getting started? Check out our FAQs.
 
This tool is not for questions about Charity Navigator, such as how we derived this charity’s rating. We will happily answer those questions if you contact us directly. Likewise, if you have questions for this charity, then we encourage you to contact the charity directly (we include the charity’s contact information in the upper left-hand corner of this page) since few charities regularly monitor this commenting tool.

Compensation % of Expenses Paid to Title
$157,954 3.78% 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) 89.62 three stars
New Jersey Future (NJ) 88.81 three stars
Staten Island Economic Development Corporation (SIEDC) (NY) 86.82 three stars
Community Involved in Sustaining Agriculture (MA) 88.53 three stars
ULI Foundation (DC) 93.37 four stars

Compare These Charities (Highly Rated)

Are you the representative for this organization? If so, click here to access the application form. As an official representative you will have the ability to update some of the information on this page.

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

[ X ]

Did You Know We Are a Charity, Too?

If even a third of the 7 million people who visited our site last year had donated a dollar to Charity Navigator, we would comfortably meet our annual budget and be able to do what so many of you ask us to do every day--rate more charities!

With the support of users like you, we are currently investing in staff and technology. This will allow us to improve the search and organizational features of our site, making it easier to find the information that matters most to you. We will also continue to enhance our evaluation system and metrics.

So, whether you're a first time visitor or a long time user, we ask for your help in achieving our goal. Your gift of any size is most deeply appreciated! Thank You!

With the support of users like you, we are making it easier to find the info that matters most. Thank you!

Join Our Mailing List

Join over 400,000 other informed givers and get updates on charity ratings, new features, hot topics, and tips for donating.

Help Center