Southwest Initiative Foundation
- Assets
- $108.7m
- Revenue
- $12.7m
- Investments
- $10.0m
- Employees
- 25
- Location
- Hutchinson, MN
- Founding
- 08/1986
- Data as of
- 06/2021
- EIN
- 41-1555592
Organization Overview
Southwest Initiative Foundation is located in Hutchinson, MN. The organization was established in 1986. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Southwest Initiative Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Initiative Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Southwest Initiative Foundation generated $12.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $11.8m during the year ending 06/2021. While expenses have increased by 14.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Southwest Initiative Foundation has awarded 840 individual grants totaling $12,748,488. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS CONNECTING PEOPLE, INVESTING IN IDEAS AND BUILDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT (SEE SCHEDULE O).
PROGRAMS (SEE SCHEDULE O).
AFFILIATE AND COMPONENT FUNDS (SEE SCHEDULE O).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana D Anderson President/ceo | Officer | 50 | $149,023 |
Margie Nelsen CFO | Officer | 50 | $110,282 |
Scott Marquardt Vice President | Officer | 50 | $109,136 |
Teresa Peterson Board Member | Trustee | 4 | $1,358 |
Patricia Dols Vice Chair | OfficerTrustee | 4 | $0 |
Mary Christine Rock Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,509,936 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,459,413 |
| Noncash contributions included in lines 1a–1f | $230,511 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,969,349 |
| Total Program Service Revenue | $563,705 |
| Investment income | $2,050,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $70,253 |
| Net Gain/Loss on Asset Sales | $1,068,985 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,722,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,831,381 |
| Grants and other assistance to domestic individuals. | $1,700,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $482,050 |
| Compensation of current officers, directors, key employees. | $163,918 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,259,833 |
| Pension plan accruals and contributions | $61,615 |
| Other employee benefits | $138,174 |
| Payroll taxes | $114,728 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,349 |
| Fees for services: Accounting | $35,881 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $314,707 |
| Fees for services: Other | $306,060 |
| Advertising and promotion | $63,430 |
| Office expenses | $119,700 |
| Information technology | $294,071 |
| Royalties | $0 |
| Occupancy | $41,889 |
| Travel | $35,947 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $115,658 |
| Interest | $46,909 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $241,218 |
| Insurance | $28,076 |
| All other expenses | $375,063 |
| Total functional expenses | $11,832,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,800 |
| Savings and temporary cash investments | $1,466,486 |
| Pledges and grants receivable | $1,147,586 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,043,673 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $110,934 |
| Net Land, buildings, and equipment | $2,641,542 |
| Investments—publicly traded securities | $85,234,552 |
| Investments—other securities | $9,978,869 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,518 |
| Total assets | $108,678,960 |
| Accounts payable and accrued expenses | $440,962 |
| Grants payable | $2,284,760 |
| Deferred revenue | $642,345 |
| Tax-exempt bond liabilities | $661,858 |
| Escrow or custodial account liability | $1,826,058 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,231,116 |
| Unsecured mortgages and notes payable | $385,458 |
| Other liabilities | $4,062,932 |
| Total liabilities | $11,535,489 |
| Net assets without donor restrictions | $35,809,780 |
| Net assets with donor restrictions | $61,333,691 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $108,678,960 |
Grants Awarded
Over the last fiscal year, Southwest Initiative Foundation has awarded $5,102,965 in support to 393 organizations.
| Grant Recipient | Amount |
|---|---|
ISD #2902 - RUSSELL TYLER RUTHTON PUBLIC SCHOOLS PURPOSE: RTR SCHOOL BUILDING PROJECT, NUTRITIONAL POSTER STAND, LEARNING THROUGH BLOCK PLAY, PLAYGROUND AT NEW SCHOOL, BASKETBALL AND BASEBALL PROGRAM, OUTDOOR BASKETBALL, RTR SCHOOL BUILDING PROJECT, NEW APPLIANCES, DONOR'S WALL, RTR SPORTS COMPLEX, RTR FOOTBALL, TAKE YOUR SEAT CAMPAIGN | $497,347 |
Montevideo, MN PURPOSE: LIVE WELL CARE COORDINATION, SWIFT COUNTY FOOD SHELF-BENSON, HOLIDAY PROJECT 2021, VITA FREE TAX CLINIC, SUPPORTING STUDENT LEARNING, HOLIDAY BASKET, SUPPORTING STAFF AND STUDENTS-COVID-19 | $123,050 |
CITY OF JACKSON PURPOSE: SPLASH'N JACKSON SPLASH PAD PROJECT | $95,346 |
Mankato, MN PURPOSE: AGE-FRIENDLY COMMUNITY-BUILDING PROJECT | $76,500 |
Marshall, MN PURPOSE: HELPING PEOPLE GET THERE, COATS FOR KIDS, YOUTH DEVELOPMENT PROGRAMS | $43,500 |
Minneapolis, MN PURPOSE: EDUCATIONAL OPPORTUNITIES, FURNITURE AND EQUIPMENT TO SUPPORT EXPANSION | $43,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southwest Initiative Foundation has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Sandve Heritage Foundation Jackson, MN PURPOSE: GENERAL FUND | $500 |
Endowment Analysis
| Beg. Balance | $54,745,386 |
| Earnings | $13,944,769 |
| Net Contributions | $1,156,537 |
| Other Expense | $2,624,054 |
| Ending Balance | $67,222,638 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Initiative Foundation Little Falls, MN | $95,633,483 | $21,753,358 |
Southwest Initiative Foundation Hutchinson, MN | $108,678,960 | $12,722,630 |
Midwest Minnesota Community Development Corporation Detroit Lakes, MN | $81,373,559 | $8,284,111 |
The International Joint Commission On Allied Health Personnel In Opht St Paul, MN | $4,513,334 | $4,493,708 |
American Academy Of Emergency Medicine Inc Milwaukee, WI | $5,226,963 | $3,404,237 |
Better Business Bureau Of Wisconsin Inc Milwaukee, WI | $5,171,220 | $3,579,852 |
Forward Community Investments Inc Madison, WI | $29,361,508 | $3,745,420 |
Leading Edge Alliance Inc Eden Prairie, MN | $746,108 | $1,886,367 |
Better Business Bureau Of Des Moines Inc Des Moines, IA | $2,552,903 | $1,796,362 |
Itasca Economic Development Corporation Grand Rapids, MN | $3,743,708 | $1,851,180 |
Dubuque Area Convention And Visitors Bureau Dubuque, IA | $1,438,467 | $1,624,966 |
Ypo Global One Chapter Inc Minneapolis, MN | $1,165,032 | $1,027,097 |