2026-07-22T09:27:43-05:00 2025-12-31 411656121 SCHLENNER WENNER & CO CPA'S PA 630 ROOSEVELT RD STE 201 ST CLOUD MN 56301 990 2025-01-01 933064878 INITIATIVE FOUNDATION IMPACT FUND INIT 3206312050 405 FIRST ST SE LITTLE FALLS MN 56345 BAABIITAW BOYD BOARD VICE CHAIR 3206312050 2026-07-16 1 MICHAEL E GRAGE P01236492 3202510286 2026-07-16 2025 2025-03-06 01:10:19Z BAABIITAW BOYD 405 FIRST ST SE LITTLE FALLS MN 56345 384198 0 X WWW.IFOUND.ORG X 2023 MN TO EMPOWER PEOPLE TO BUILD THRIVING COMMUNITIES AND A VIBRANT REGION ACROSS CENTRAL MINNESOTA. 5 5 0 5 0 0 2013681 287319 40334 60337 4134 36542 0 0 2058149 384198 0 0 0 0 0 0 0 0 13211 253782 486542 253782 486542 1804367 -102344 2851898 2204014 584889 39349 2267009 2164665 TO EMPOWER PEOPLE TO BUILD THRIVING COMMUNITIES AND A VIBRANT REGION ACROSS CENTRAL MINNESOTA. 0 0 427042 60337 THE INITIATIVE FOUNDATION IMPACT FUND IS A SUBSIDIARY LENDING INSTITUTION PROVIDING COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ACTIVITIES. THE IMPACT FUND DEPLOYS CAPITAL IN UNDERSERVED AND CDFI-ELIGIBLE LOW-INCOME COMMUNITIES WITHIN THE INITIATIVE FOUNDATION'S SERVICE AREA. IN 2025 THE IMPACT FUND DEPLOYED SEVEN LOANS TOTALING $730,000. 427042 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X MICHELE MILLER 3206312050 405 FIRST ST SE LITTLE FALLS MN 56345 X NICK TIETZ TRUSTEE/TREASURER 2.00 X X 0 0 0 BRETT ANDERSON TRUSTEE/BOARD CHAIR 2.00 X X 0 0 0 BAABIITAW BOYD TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 SHIRWA ADAN TRUSTEE 2.00 X 0 0 0 ROB AITKIN TRUSTEE 2.00 X 0 0 0 0 0 0 0 0 0 0 0 286319 1000 1000 287319 REVOLVING LOAN INTERES 522100 39577 39577 LOAN ADMIN FEE 900099 20760 20760 60337 36542 36542 384198 60337 0 36542 X 218252 183050 32195 3007 14563 14563 10400 10400 50593 40593 10000 31270 31270 984 984 14220 12788 1331 101 5394 4618 721 55 23309 23309 17313 16313 1000 2894 2478 387 29 1909 1635 255 19 BAD DEBT EXPENSE 91315 91315 BOARD/COMMITTEE EXPENSE 3018 3018 OTHER EXPENSES 1108 1108 486542 427042 46289 13211 324217 1371603 4975 300000 2365 4248 321575 290064 433922 511776 223 1469819 21125 2851898 2204014 7323 286319 298570 32026 584889 39349 X 2267009 2164665 2267009 2164665 2851898 2204014 -102344 0 X 0 1 X 1 0 X 500000 2013681 286319 2800000 500000 2013681 286319 2800000 2800000 4134 36542 40676 2840676 101469 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 PART II-B, LINE 1: THE INITATIVE FOUNDATION, ALONGSIDE ITS FIVE SISTER INITIATIVE FOUNDATIONS IN MINNESOTA, ENGAGES IN NONPARTISAN ADVOCACY FOR POLICIES AND FUNDING THAT SUPPORTS EQUITABLE ECONOMIC DEVELOPMENT IN RURAL MINNESOTA, AND OPPORTUNITIES FOR SMALL COMMUNITIES AND BUSINESS OWNERS TO ACCESS STATE FUNDING FOR INFRASTRUCTURE PROJECTS. 0 DUE TO INITIATIVE FOUNDATION 32026 32026 X 384198 0 384198 0 384198 486542 0 486542 0 486542 PART X, LINE 2: THE FOUNDATION FOLLOWS FASB ASC TOPIC 740, UNCERTAINTY IN INCOME TAXES. THE FOUNDATION IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(3). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE FOUNDATION, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE FOUNDATION ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE FOUNDATION ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE FOUNDATION IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE FOUNDATION WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE FOUNDATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX WITH RESPECT TO ADVERTISING INCOME AND INVESTMENT IN PARTNERSHIPS. THE FOUNDATION IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE. SHIRWA ADANCREDENT CARE LLC TRUSTEE X 200000 192165 0 1 1 SHIRWA ADANCREDENT CARE LLC TRUSTEE X 100000 97899 0 1 1 290064 BAABIITAW BOYDIKWEWIYAAN CONSULTING LLC TRUSTEE/VICE CHAIR 36106 FIELD CONSULTANT FOR PROGRAM/MILEAGE REIMBURSEMENT 0 FORM 990, PART VI, SECTION A, LINE 4 ORGANIZATION ENTERED INTO A MANAGEMENT AGREEMENT WITH THE INITIATIVE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE FULL BOARD ELECTRONICALLY AS PART OF MONTHLY BOARD MEETING MATERIALS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEETINGS BEGIN WITH A QUESTION ASKING MEMBERS TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. BUSINESS FINANCE COMMITEEE AND GRANT TEAM MEMBERS ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST PRIOR TO DISCUSSING GRANT APPLICATIONS AND RECUSE THEMSELVES. FINANCE APPROVES ALL PAYMENTS AND CONSIDERS POTENTIAL FOR CONFLICTS OF INTEREST. ANNUALLY, ALL DONATION AND PAYMENT TRANSACTIONS ARE REVIEWED BY FINANCE. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION STUDY WAS CONDUCTED BY AN EXTERNAL FIRM IN 2021. A REVIEW OF MARKET COMPENSATION FOR COMPARABLE FOUNDATIONS PLUS OTHER MINNESOTA INITIATIVE FOUNDATIONS IS CONDUCTED ANNUALLY. MARKET COMPENSATION STUDIES ARE REVIEWED FROM THE MINNESOTA COUNCIL ON FOUNDATIONS AND COUNCIL OF FOUNDATIONS. SHRM RESOURCES ARE ALSO USED ALONG WITH TEMP AGENCY COMPENSATION WAGE REFERENCES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE WITHIN THE ANNUAL REPORT OR UPON REQUEST. THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 40,593. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 10,000. TOTAL EXPENSES 50,593. INITIATIVE FOUNDATION 405 FIRST STREET LITTLE FALLS MN 56345 363451562 COMMUNITY FOUNDATION MN 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 INITIATIVE FOUNDATION P 218252 INCOME STATEMENT