EIN 36-3454285

Southern Minnesota Initiative Foundation (SMIF)

IRS 501(c) type
501(c)(3)
Num. employees
34
City
Owatonna
Year formed
1986
Most recent tax filings
2023-06-01
NTEE code, primary
Description
Southern Minnesota Initiative Foundation's mission is to promote regional economic opportunities and collaborations with a focus on entrepreneurs and early childhood development.
Total revenues
$5,876,900
2023
Total expenses
$6,487,380
2023
Total assets
$69,745,601
2023
Num. employees
34
2023

Program areas at SMIF

Southern Minnesota Initiative Foundation provides grants, loans and technical assistance to businesses, local governments and nonprofit organizations that accelerate the creation of new businesses and innovative ventures that will shape our economy through partnerships in our region.
Southern Minnesota Initiative Foundation administers the americorps-southern Minnesota grant focusing on early childhood. Supported americorps members serve in non-profits and schools throughout the 20 county area working with preschool children on early literacy, social-emotional, and school readiness support.
Southern Minnesota Initiative Foundation provides grants, educational resources and technical assistance to local governments, community partnerships and nonprofit organizations in early childhood education. The early childhood program provides resources that strengthen early childhood efforts so that young children will have a healthy life of learning, achieving and succeeding.

Grants made by SMIF

GranteeGrant descriptionAmount
University of Notre DameI-Lab, Global Fellowship, Presidents Circle$400,000
Leo Augusta Children's AcademySupport Early Childhood Expansion / Get Out! Outdoor Classroom/Education-Deed Sub Grant$212,367
Lead for AmericaProgramming Support$75,000
...and 40 more grants made totalling $1,199,211

Who funds Southern Minnesota Initiative Foundation (SMIF)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
The McKnight FoundationFor General Operating Support$1,000,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$504,750
Southwest Initiative FoundationSouthern Minnesota Initiative Foundation Belonging, Anti-Hate, and Anti-Racism$480,000
...and 16 more grants received

Personnel at SMIF

NameTitleCompensation
Tim PennyPresident and Chief Executive Officer
Brian ConzemiusVice President Chief Financial Officer$133,350
Alissa OeltjenbrunsVice President of Philanthropy and Community Vitality
Katie Godfrey DemmerCommunications Director
Aaron JohnsonPhilanthropy Director
...and 15 more key personnel

Financials for SMIF

RevenuesFYE 06/2023
Total grants, contributions, etc.$4,779,553
Program services$183,507
Investment income and dividends$1,574,737
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-646,996
Net income from fundraising events$-10,310
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$-3,591
Total revenues$5,876,900

Form 990s for SMIF

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-08990View PDF
2022-062023-04-25990View PDF
2021-062022-03-09990View PDF
2020-062021-04-12990View PDF
2019-062020-09-16990View PDF
...and 9 more Form 990s

Organizations like SMIF

OrganizationLocationRevenue
Battle Creek Unlimited (BCU)Battle Creek, MI$19,224,833
Mon Valley Initiative (MVI)Homestead, PA$14,993,148
Invest DetroitDetroit, MI$24,220,233
Greater Sacramento Area Economic CouncilSacramento, CA$2,910,340
Staten Island Economic Development CorporationStaten Island, NY$2,385,997
Enterprise Florida (EFI)Orlando, FL$16,140,627
Community Lift CorporationMemphis, TN$2,445,286
Missouri EnterpriseRolla, MO$4,537,563
Main Street Ventures (the Brandery)Cincinnati, OH$2,249,420
Southwest Mississippi Planning andNatchez, MS$9,332,233
Data update history
September 20, 2024
Updated personnel
Identified 7 new personnel
August 12, 2024
Posted financials
Added Form 990 for fiscal year 2023
August 10, 2024
Received grants
Identified 2 new grant, including a grant for $480,000 from Southwest Initiative Foundation
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $10,000 from William D Radichel Foundation
January 1, 2024
Received grants
Identified 6 new grant, including a grant for $1,000,000 from The McKnight Foundation
Nonprofit Types
Grantmaking organizationsPublic sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Operates donor advised fundsProvides grantsLobbyingFundraising eventsState / local levelReceives government fundingEndowed supportTax deductible donationsAccepts online donations
General information
Address
525 Florence Ave
Owatonna, MN 55060
County
Steele County, MN
Website URL
smifoundation.org/ 
Phone
(507) 455-3215
Twitter profile
@smifound 
IRS details
EIN
36-3454285
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1986
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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