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Initiative Foundation
Initiative Foundation reported $15.2 million in revenue and $15.7 million in expenses for calendar year 2024. Of every $100 it spent, $86.34 went to program services, $9.17 to management and general costs and $4.49 to fundraising. Its largest source of revenue was contributions and grants: 67.6% of the total. Government grants made up 29.1%. The highest compensation it reported for one person was $193,885 (PRESIDENT). 3 people received more than $100,000 in reportable compensation. Revenue rose 48% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $16MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $15MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 86.3% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 9.2% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.5% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.07 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 67.6% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 29.1% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 7.5% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $193,885 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.23% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 3 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 80.9 | 9.2 |
| Independent voting board members Part VI 1a–1b | 15 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseCommunitychildcare solutions: the childcare solutions program enhances community and workforce development through access to affordable, quality childcare. In 2024, $275,000 was allocated to partner organizations to foster economic growth through expanded childcare options and a skilled early childhood workforce. The foundation funded efforts in 10 central minnesota communities to develop and implement strategic plans addressing the childcare shortage. These communities received specialized childcare consulting and technical assistance to explore new partnerships and creative solutions with…
Economylending: the Initiative Foundation deployed 39 economic development and small business loans totaling $5,679,497. The lending program provides capital to underserved entrepreneurs and underinvested communities, from microloans under $50,000 to large gap loans with the potential to exceed $500,000. This flexibility allows the foundation to serve startups to established businesses. Lending is focused on giving entrepreneurs a fair opportunity at wealth-building and creating high-quality jobs and locally owned businesses. The foundation maintains a wholly owned subsidiary, the Initiative…
Generositypartner funds: the foundation's 131 partner funds delivered 351 grants for over $1.4 million in awards. The average grant in 2024 was $4,079. Total grantmaking increased in 2024 compared to 2023 both in the aggregate and average grant award. Donations to partner funds totaled $1,394,824 including $605,200 to endowments, $242,288 to quasi-endowed funds, $313,086 to non-endowed funds, and $234,250 in events revenue
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Officer, 40.00 hrs/week | $165,828 | $0 | $28,057 | $193,885 |
| VP FOR COMMUNITY & WORKFORCE (FORMER) Former, 40.00 hrs/week | $148,367 | $0 | $27,540 | $175,907 |
| CFO Officer, 40.00 hrs/week | $117,848 | $0 | $30,410 | $148,258 |
3 people received more than $100,000 in reportable compensation from Initiative Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $519K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 15 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 534
- Volunteers Part I, line 6226
Private foundation grants it received
6 private foundations reported grants to Initiative Foundation totaling $3.9M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Initiative Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Initiative Foundation, you can publish a response that is linked from this page.
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Of every $100 Initiative Foundation spent in 2024, $86.34 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- The Storehouse Community CenterPlano, TX · revenue $15M · programs 93.3% · FY2025
- Commission on Economic Opportunity for the Greater Capital RegionTroy, NY · revenue $15M · programs 91.8% · FY2025
- Economic Opportunity Commission of Nassau CountyHempstead, NY · revenue $15M · programs 88.5% · FY2024
- Greenlight FundBoston, MA · revenue $15M · programs 82.0% · 2024
- North Central Indiana Regional Planning CouncilPeru, IN · revenue $15M · programs 99.6% · 2024
All community improvement & capacity building charities · Largest charities in Minnesota
Questions people ask
How much of Initiative Foundation's spending goes to programs?
In calendar year 2024, Initiative Foundation reported that 86.3% of its $15.7 million in expenses went to program services, 9.2% to management and general and 4.5% to fundraising (Form 990, Part IX).
How much does Initiative Foundation pay its top executive?
The largest total compensation Initiative Foundation reported for one person in calendar year 2024 was $193,885, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Initiative Foundation get its money?
Of $15.2 million in revenue in calendar year 2024, 67.6% came from contributions and grants (including 29.1% from government grants) and 7.5% from program service revenue (Form 990, Part VIII).
Is Initiative Foundation a registered charity?
The IRS lists EIN 36-3451562 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202542889349300229 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202442609349300959 · read the filing
- 2022: Form 990 for calendar year 2022, object 202311639349300521 · read the filing
- 2021: Form 990 for calendar year 2021, object 202202449349301515 · read the filing
- 2020: Form 990 for calendar year 2020, object 202111379349302881 · read the filing
- 2019: Form 990 for calendar year 2019, object 202011819349301626 · read the filing
All filings for EIN 36-3451562: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.