Overview
What is Southern Minnesota Initiative Foundation?
The Southern Minnesota Initiative Foundation is a regional development and philanthropic organization based in Owatonna, Minnesota. With a team of 39 employees, they invest in the economic growth of the 20 counties in south central and southeastern Minnesota. Their efforts include extending grants, loans, and technical assistance to local governments, businesses, and nonprofit organizations to catalyze new businesses and innovative ventures. This collaboration and partnership approach aims to foster economic and community vitality across the region, with a specific focus on entrepreneurs and early childhood development.
Official website here: www.smifoundation.org
Is Southern Minnesota Initiative Foundation legitimate?
Southern Minnesota Initiative Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Minnesota Initiative Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $344,435
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,253,354
For more financial information, click here
Official website here: www.smifoundation.org
What is the mission statement of Southern Minnesota Initiative Foundation?
The Southern Minnesota Initiative Foundation serves as a regional development and philanthropic organization, dedicated to fostering economic and community vitality in twenty counties of southern Minnesota. With a culture that emphasizes collaboration and partnership, the Foundation focuses on supporting entrepreneurs and early childhood development. Through providing grants, loans, and technical assistance, the Foundation helps bring new businesses and innovative ventures to life, shaping the local economy through strategic partnerships.
Official website here: www.smifoundation.org
Who is the CEO of Southern Minnesota Initiative Foundation?
Timothy Penny is the President/Ceo of Southern Minnesota Initiative Foundation. The CEO's salary of Southern Minnesota Initiative Foundation is $153,871 and their total compensation is $188,084.
Official website here: www.smifoundation.org
What is the revenue of Southern Minnesota Initiative Foundation?
Southern Minnesota Initiative Foundation's revenue in 2022 was $22,164,085.
Official website here: www.smifoundation.org
Who are the executives of Southern Minnesota Initiative Foundation and what are their salaries?
The average compensation at Southern Minnesota Initiative Foundation during 2022 was $40,969. There are 39 employees and 14 volunteers at Southern Minnesota Initiative Foundation.
Here are 18 key members and their salaries (Southern Minnesota Initiative Foundation's CEO's salary is $153,871 and their total compensation is $188,084):
- Timothy Penny (President/Ceo)
- Brian Conzemius (Vice President/Cfo)
- Pamela Bishop (Vp Of Economic Development)
- Rae Jean Hansen (Vp Of Early Childhood)
- Erin Bailey (Member At Large) [Trustee/Director]
- Carissa Buegler (Director)
- Xavier Frigola (Director)
- Matt Goldade (Member At Large) [Trustee/Director]
- Jamila Ibrahim (Director)
- Heather Millard (Director)
- Corey Mensink (Member At Large) [Trustee/Director]
- Chris Schad (Director)
- Angel Uribe (Member At Large) [Trustee/Director]
- Shawn Vogt Sween (Member At Large) [Trustee/Director]
- John Peterson (Chair) [Trustee/Director]
- Cassie Harrington (Vice Chair) [Trustee/Director]
- Erin Meier (Secretery) [Trustee/Director]
- Jake Anderson (Treasurer) [Trustee/Director]
Official website here: www.smifoundation.org
Where can I find the form 990 for Southern Minnesota Initiative Foundation?
The Southern Minnesota Initiative Foundation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.smifoundation.org
Learn more at the official website: www.smifoundation.org
Mission Statement of Southern Minnesota Initiative Foundation
The Southern Minnesota Initiative Foundation, a regional development and philanthropic organization, is dedicated to fostering economic and community vitality in the 20 counties of south central and southeastern Minnesota. With a culture of collaboration and partnership at its core, this foundation invests in new businesses and innovative ventures that will shape the economy of the region.
Through strategic grants, loans, and technical assistance, the Southern Minnesota Initiative Foundation supports local governments, nonprofit organizations, and entrepreneurs. By providing the necessary resources, it accelerates the creation of businesses that contribute to the economic growth of the area. The foundation's efforts are focused on fostering a thriving ecosystem, where businesses and communities can collaborate and grow together.
In addition to its economic development initiatives, the Southern Minnesota Initiative Foundation places a strong emphasis on early childhood development. It recognizes that a strong foundation in early childhood education sets the stage for future success and prosperity. By nurturing and supporting the growth of young minds, the foundation lays the groundwork for a vibrant and thriving future for the region.
Impact
This information is meant to be a general summary of Southern Minnesota Initiative Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Southern Minnesota Initiative Foundation invests for economic growth in the 20 counties of South Central and Southeastern Minnesota. They provide grants, loans, and technical assistance to businesses, local governments, and organizations that accelerate the creation of new businesses and innovative ventures in the region. Through partnerships, they shape the economy and foster economic and community vitality in Southern Minnesota.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$136,468
PROJECT FEES & REVENUE
Revenue
$48,277
Organization Details
Founding Year
1986
Phone
(507) 455-3215
Principal Officer
Timothy Penny
Main Address
525 FLORENCE AVE, OWATONNA, MN, 55060
Website
www.smifoundation.org
NTEE Category
Code: S300 - Community improvement
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