Northwest Area Foundation
- Assets
- $476.4m
- Revenue
- $15.1m
- Investments
- $459.1m
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 10/1947
- Data as of
- 12/2019
- EIN
- 41-0719221
Organization Overview
Northwest Area Foundation is located in St Paul, MN. The organization was established in 1947. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Northwest Area Foundation generated $15.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $30.1m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Northwest Area Foundation has awarded 605 individual grants totaling $67,355,201. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SUPPORT EFFORTS OF PEOPLE WITH LOW INCOME IN OUR REGION OF EIGHT STATES AND 76 NATIVE NATIONS TO OVERCOME BARRIERS TO BUILDING ASSETS AND BECOMING MORE PROSPEROUS. WE MAKE GRANTS, SPONSOR MEETINGS, AND ISSUE STRATEGIC COMMUNICATIONS THAT HELP BUILD MORE EQUITABLE ECONOMIES, WHERE PROSPERITY IS DEFINED BY LOCAL COMMUNITIES AND SHARED BY ALL, WITH GOOD JOBS, THRIVING BUSINESSES, AND VIBRANT CULTURES. THROUGH GRANTMAKING AND MISSION INVESTMENTS, OUR FUNDING FOCUSES ON ONE OR MORE OF THE FOLLOWING FOUR PORTFOLIOS: OPENING ACCESS TO CAPITAL, EXPANDING WORK OPPORTUNITY, SUPPORTING ENTERPRISE DEVELOPMENT, AND PROMOTING FINANCIAL INCLUSION. OUR FUNDING ALSO SUPPORTS INFRASTRUCTURE, IDEA INCUBATION, AND RESEARCH.OUR GRANTEES PROVIDE KNOWLEDGE, TOOLS, TRAINING, AND OTHER SERVICES THAT ALLOW PEOPLE TO REDEFINE AND REACH SUCCESS ON THEIR OWN TERMS. WE LISTEN TO GRANTEES, LEARN ABOUT THEIR COMMUNITIES' STRENGTHS AND STRUGGLES, AND LEAD BY LIFTING UP IDEAS AND GREAT WORK ALREADY BEING DONE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Walker President & Secretary | 40 | $427,481 | |
Milosava Acamovic VP Of Finance & Admin/cfo | 40 | $259,518 | |
Amy Jensen Investment Director | 40 | $205,572 | |
Karla Miller Program Director | 40 | $180,162 | |
Paul Bachleitner Communications Direc | 40 | $152,915 | |
Ann Naithani Director Of Org Effe | 40 | $128,867 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nepc Llc | 12/30/19 | $310,208 |
Faegre Baker Daniels Llp | 12/30/19 | $99,228 |
Bowman Performance Consulting | 12/30/19 | $90,704 |
Al Nygard Consulting | 12/30/19 | $135,748 |
Evology | 12/30/19 | $86,710 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $617,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,443,319 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,826,902 |
| Capital Gain Net Income | $13,133,640 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $182,040 |
| Total Revenue | $15,069,261 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $940,474 |
| Other employee salaries and wages | $2,434,228 |
| Pension plans, employee benefits | $1,028,361 |
| Interest | $0 |
| Taxes | $935,935 |
| Depreciation | $100,153 |
| Occupancy | $495,929 |
| Travel, conferences, and meetings | $316,674 |
| Printing and publications | $0 |
| Other expenses | $770,741 |
| Total operating and administrative expenses | $13,844,569 |
| Contributions, gifts, grants paid | $16,261,417 |
| Total expenses and disbursements | $30,105,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,511,086 |
| Net Accounts receivable | $1,390 |
| Net Pledges Receivable | $0 |
| Grants receivable | $200,000 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $145,279 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $111,444,944 |
| Net Land, buildings, and equipment | $425,455 |
| Other assets | $15,025,781 |
| Total assets | $476,449,216 |
| Accounts payable and accrued expenses | $529,451 |
| Grants payable | $6,397,110 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,166,762 |
| Total liabilities | $9,093,323 |
Grants Awarded
Over the last fiscal year, Northwest Area Foundation has awarded $19,953,462 in support to 204 organizations.
| Grant Recipient | Amount |
|---|---|
Longmont, CO PURPOSE: NATIVE CDFI CAPITALIZATION: NETWORKING FOR INVESTMENT | $550,213 |
Seattle, WA PURPOSE: ADVANCING ECONOMIC MOBILITY IN WASHINGTON STATE | $500,000 |
HMONG AMERICAN PARTNERSHIP PURPOSE: BUILDING ECONOMIC PROSPERITY FOR HMONG MINNESOTANS: A 10-YEAR PLAN TOWARDS PROSPERITY | $400,000 |
Denver, CO PURPOSE: STRENGTHENING WORKFORCE OPPORTUNITIES AND FIRST-GENERATION WORKERS ACROSS INDIAN COUNTRY | $400,000 |
Atlanta, GA PURPOSE: OPPORTUNITIES FOR THRIVING NATIVE YOUTH | $400,000 |
Porcupine, SD PURPOSE: ECOSYSTEM OF OPPORTUNITY: BUILDING COMMUNITY POWER | $397,805 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northwest Area Foundation has recieved totaling $18,836.
| Awarding Organization | Amount |
|---|---|
Peoples Partners For Community Development Lame Deer, MT PURPOSE: Pathways to financial inclusion | $18,836 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,347,640,816 | $94,804,638 |
The Richard M Schulze Family Foundation Minneapolis, MN | $248,694,629 | $165,153,269 |
Medtronic Communities Foundation Minneapolis, MN | $139,693,396 | $82,177,681 |
Northwest Area Foundation St Paul, MN | $476,449,216 | $15,069,261 |
Manitou Fund White Bear Lake, MN | $984,047,898 | $969,820,600 |
Richard O Jacobson Foundation Inc Des Moines, IA | $0 | $21,500,018 |
J A Wedum Foundation Minneapolis, MN | $132,054,818 | $56,321,347 |
Lunda Charitable Fund Inc Black River Falls, WI | $54,780,973 | $2,553,689 |
Target Foundation Minneapolis, MN | $17,816,807 | $22,990,908 |
Herbert H Kohl Charities Inc Milwaukee, WI | $0 | $4,457,488 |
3m Foundation St Paul, MN | $14,130,445 | $13,263,360 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $222,792,049 | $14,759,051 |