Community Development : Housing and Neighborhood Development

Southern Minnesota Initiative Foundation

Investments that break new ground

four stars

91.22

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

Board Leadership
Fred W. Krahmer
Board Chair

CEO
Tim Penny
President & CEO

  Score
(out of 100)
Rating
Overall Score & Rating 91.22 four stars
  Financial 94.26 four stars
  Accountability & Transparency 89.00 three stars
This rating was published 08/01/2019 and includes data from FY2018, the most recent 990 received at that time.

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.

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.

Impact Information

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Financial

four stars

94.26

Accountability & Transparency

three stars

89.00

This rating was published 08/01/2019 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)
83.1%
  Administrative Expenses 12.8%
  Fundraising Expenses 4.0%
  Fundraising Efficiency $0.03
  Working Capital Ratio (years) 5.94
  Program Expenses Growth 4.8%
  Liabilities to Assets 13.0%
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.
REVENUE  
Contributions  
   Contributions, Gifts & Grants $3,848,672
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $45,167
   Related Organizations $0
   Government Grants $501,007
Total Contributions $4,394,846
   Program Service Revenue $191,577
Total Primary Revenue $4,586,423
   Other Revenue $4,000,792
TOTAL REVENUE $8,587,215
   
EXPENSES  
   Program Expenses $3,799,814
   Administrative Expenses $587,963
   Fundraising Expenses $196,188
TOTAL FUNCTIONAL EXPENSES $4,583,965
   
Payments to Affiliates $0
Excess (or Deficit) for the year $4,003,250
   
Net Assets $48,762,104

Charts

Compensation % of Expenses Paid to Title
$158,421 3.45% Timothy Penny President, CEO

Mission

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) 91.22 four stars
Enlace Chicago (IL) 88.22 three stars
Center for Community Change (DC) 88.05 three stars
Community Action Services and Food Bank (UT) 87.97 three stars
Initiative Foundation (MN) 92.11 four stars

Compare These Charities (Highly Rated)

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

Fred W. Krahmer
Board Chair

CEO

Tim Penny
President & CEO