Overview
What is First Children's Finance?
First Children's Finance is a certified Community Development Financial Institution (CDFI) based in Minneapolis, Minnesota. With a mission to serve the unique needs of family child care and child care centers, they offer flexible financing and technical assistance tailored to the needs of child care businesses, primarily in Iowa, Michigan, Minnesota, Missouri, North Dakota, South Dakota, Texas, and Wisconsin. Their work contributes to the growth and success of these businesses by increasing the availability, affordability, and quality of early care and education. Employing 78 individuals, First Children's Finance is dedicated to building partnerships that connect vital child care businesses with public and private sector resources. Their commitment to expanding access to high-quality early care and education is rooted in their belief that it is essential for individual success and regional economic growth. In 2023, they funded $1.46 million in loans to child care businesses and received a $5M award from the Mackenzie Scott Foundation to build organizational capacity.
Official website here: www.firstchildrensfinance.org
Is First Children's Finance legitimate?
First Children's Finance is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Children's Finance 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: $1,585,115
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,333,024
For more financial information, click here
Official website here: www.firstchildrensfinance.org
What is the mission statement of First Children's Finance?
First Children's Finance is dedicated to helping children, families, and communities prosper by expanding the accessibility, affordability, and quality of early care and education. They achieve this goal by offering financial and business development assistance to top-notch care businesses catering to low- and moderate-income families. First Children's Finance also builds vital partnerships, linking these indispensable businesses with resources from both the public and private sectors. The organization firmly believes that access to superior early care and education is essential for all communities, as human capital development is the foundation of individual success and the driving force behind economic growth at the regional level.
Official website here: www.firstchildrensfinance.org
Who is the CEO of First Children's Finance?
Gerald Cutts is the Chair of First Children's Finance. The CEO's salary of First Children's Finance is $179,090 and their total compensation is $179,090.
Official website here: www.firstchildrensfinance.org
What is the revenue of First Children's Finance?
First Children's Finance's revenue in 2023 was $29,299,227.
Official website here: www.firstchildrensfinance.org
Who are the executives of First Children's Finance and what are their salaries?
The average compensation at First Children's Finance during 2023 was $75,874. There are 78 employees and 15 volunteers at First Children's Finance.
Here are 18 key members and their salaries (First Children's Finance's CEO's salary is $179,090 and their total compensation is $179,090):
- Gerald Cutts (President/Ceo)
- Heidi Hagel-Braid (Cpo)
- Suzanne Pearl (Minnesota Director)
- Ben Nicholie (Coo)
- Ericka Warmack (Lending Director)
- Heidi Schlueter (Iowa Director)
- James Henderson (Michigan Director)
- Vanessa Garcia Gutierrez (Cfo)
- Suzanne Humbert (Chair) [Trustee/Director]
- Patrick Skiles (Treasurer) [Trustee/Director]
- Roger Neugebaurer (Director)
- Walter Gilliam (Director)
- Elizabeth Davis (Secretary) [Trustee/Director]
- Edith Johnson (Director)
- Nicole Barcliff (Director)
- Kelley Elkin (Director)
- Maria Regan Gonzalez (Director)
- David Arens (Director)
Official website here: www.firstchildrensfinance.org
Where can I find the form 990 for First Children's Finance?
The First Children's Finance’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.firstchildrensfinance.org
Learn more at the official website: www.firstchildrensfinance.org
Mission Statement of First Children's Finance
First Children's Finance, a leading nonprofit organization, is dedicated to helping children, families, and communities prosper by expanding the accessibility, affordability, and quality of early care and education. Through their mission, they aim to make a significant impact by providing financial and business development assistance to top-tier early care and education businesses catering to low- and moderate-income families. By fostering these partnerships, they connect these essential businesses to the resources of both the public and private sectors.
First Children's Finance is firmly convinced that access to high-quality early care and education is vital for all communities. They believe that human capital development forms the basis of individual success and acts as the engine for regional economic growth. By increasing the availability, affordability, and quality of early care and education, this nonprofit contributes to the overall well-being of families and communities, setting the foundation for a brighter future.
Impact
This information is meant to be a general summary of First Children's Finance. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
First Children's Finance helps children, families, and communities thrive by increasing the availability, affordability, and quality of early care and education. They provide financial assistance as a certified Community Development Financial Institution (CDFI), offering flexible and trustworthy financing tailored to the unique needs of family child care and child care centers. By lending in multiple states and pairing their loans with technical assistance specific to child care businesses' needs, First Children's Finance contributes to the growth and success of child care businesses. In 2023, they funded $1.46 million in loans, supporting these businesses and earning national recognition, including a $5 million award from the MacKenzie Scott Foundation. Through their efforts, First Children's Finance is building organizational capacity to support their 2030 vision of enhancing early care and education for all communities.
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 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUSINESS CONSULTING
Revenue
$6,375,544
INTEREST ON LOANS
Revenue
$134,481
FEES ON LOANS
Revenue
$13,199
Organization Details
Founding Year
1991
Phone
(612) 338-3023
Principal Officer
Gerald Cutts
Main Address
212 THIRD AVENUE NORTH 310, MINNEAPOLIS, MN, 55401
NTEE Category
Code: P190 - Human services
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