First Childrens Finance

Organization Overview

First Childrens Finance is located in Minneapolis, MN. The organization was established in 1991. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., under the broad grouping of Human Services and related organizations. As of 06/2022, First Childrens Finance employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Childrens Finance 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 06/2022, First Childrens Finance generated $9.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $10.7m during the year ending 06/2022. While expenses have increased by 32.1% per year over the past 7 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 2018, First Childrens Finance has awarded 44 individual grants totaling $840,497. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

FIRST CHILDREN'S FINANCE HELPS CHILDREN, FAMILIES AND COMMUNITIES THRIVE BY INCREASING THE AVAILABILITY, AFFORDABILITY AND QUALITY OF EARLY CARE AND EDUCATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL ASSISTANCE A FEDERALLY CERTIFIED COMMUNITY DEVELOPMENT FINANCE INSTITUTION (CDFI), FIRST CHILDREN'S FINANCE PROVIDES LOANS AND FINANCIAL TECHNICAL ASSISTANCE TO CHILD CARE CENTERS AND FAMILY PROVIDERS LOOKING TO EXPAND OR IMPROVE FACILITIES AND PROGRAMS IN IOWA, MICHIGAN, MINNESOTA, MISSOURI, NORTH AND SOUTH DAKOTA, AND WASHINGTON. BUSINESS TRAINING & CONSULTING FIRST CHILDREN'S FINANCE PROVIDES TRAINING AND WORKSHOPS ON A VARIETY OF BUSINESS TOPICS, AS WELL AS ONE-ON-ONE CONSULTING FOR INDIVIDUAL CHILD CARE BUSINESSES. OUR CONSULTING SERVICES FOCUS ON THE ESSENTIAL BUSINESS COMPONENTS NECESSARY TO CREATE AND MAINTAIN HIGH-QUALITY CHILD CARE BUSINESSES. BUSINESS DEVELOPMENT PROGRAMS FIRST CHILDREN'S FINANCE PROVIDES COMPREHENSIVE BUSINESS DEVELOPMENT PROGRAMS FOR CHILD CARE CENTERS AND FAMILY PROVIDERS, INCLUDING THE GROWTH FUND BUSINESS DEVELOPMENT PROGRAM, A MULTI-YEAR PROGRAM DESIGNED TO MOVE SUCCESSFUL CHILD CARE BUSINESSES TO THE NEXT LEVEL IN THEIR BUSINESS OPERATIONS AND GROWTH.COMMUNITY CONSULTING PROJECTS FIRST CHILDREN'S FINANCE PROVIDES CONSULTING AND PLANNING ASSISTANCE FOR COMMUNITIES, GOVERNMENT AGENCIES, INTERMEDIARIES AND REGIONAL CHILD CARE ORGANIZATIONS THROUGHOUT THE UNITED STATES. TYPICAL PROJECTS INCLUDE REGIONAL CHILD CARE FACILITY AND NEEDS ASSESSMENTS AND RELATED COMMUNITY PLANNING.ONLINE RESOURCES FIRST CHILDREN'S FINANCE ALSO PROVIDES FREE ONLINE RESOURCES FOR CHILD CARE BUSINESSES, INCLUDING PRACTICAL BUSINESS TOOLS AND INFORMATION CUSTOMIZED FOR CHILD CARE CENTERS AND FAMILY PROVIDERS.


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Board, Officers & Key Employees

Name (title)Compensation
Gerald Cutts
President/ceo
$157,940
Heidi Hagel-Braid
Cpo
$139,724
Ben Nicholie
CFO
$126,850
Suzanne Pearl
Minnesota Director
$123,575
Suzanne Humbert
President
$0
Pat Skiles
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $7,327,016
All other contributions, gifts, grants, and similar amounts not included above$759,386
Noncash contributions included in lines 1a–1f $66,593
Total Revenue from Contributions, Gifts, Grants & Similar$8,086,402
Total Program Service Revenue$1,450,994
Investment income $4,378
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $5,138
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $9,546,912

Grants Awarded

Over the last fiscal year, First Childrens Finance has awarded $678,497 in support to 35 organizations.

Grant RecipientAmount

CITY OF NEW ULM

PURPOSE: CHILDCARE

$27,000

INDEPENDENT SCHOOL DISTRICT 94

PURPOSE: CHILDCARE

$27,000

INDEPENDENT SCHOOL DISTRICT 2170

PURPOSE: CHILDCARE

$27,000

BEAUTIFUL BEGINNINGS DC

PURPOSE: CHILDCARE

$20,000

LIVING WORD CHURCH

PURPOSE: CHILDCARE

$20,000

RJ'S CHILDCARE

PURPOSE: CHILDCARE

$20,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 10 grants that First Childrens Finance has recieved totaling $1,234,753.

Awarding OrganizationAmount
David And Lucile Packard Foundation

Los Altos, CA

PURPOSE: CHILDREN, FAMILIES, AND COMMUNITIES

$400,000
Robert Wood Johnson Foundation

Princeton, NJ

PURPOSE: 77065 INCREASING THE SUSTAINABILITY AND SUPPLY OF

$377,732
The Richard M Schulze Family Foundation

Minneapolis, MN

PURPOSE: HUMAN SERVICES

$150,000
New Venture Fund

Washington, DC

PURPOSE: YOUTH DEVELOPMENT AND EDUCATION

$100,000
Northwest Area Foundation

St Paul, MN

PURPOSE: BUSINESS DEVELOPMENT CAPACITY-BUILDING PROJECT FOR LOW-INCOME AND RURAL CHILD CARE

$75,000
Minnesota Council On Foundations

Minneapolis, MN

PURPOSE: Integrated Capital Recovery Project

$70,000
View Grant Recipient Profile

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