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TO ADVANCE COMMUNITY ECONOMIC DEVELOPMENT IN RURAL AND UNDERSERVED COMMUNITIES.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$20.6M
Program Spending
92%
of total expenses go to program services
Total Contributions
$16.5M
Total Expenses
▼$13.6M
Total Assets
$83.4M
Total Liabilities
▼$47.3M
Net Assets
$36.1M
Officer Compensation
→$564.1K
Other Salaries
$2.9M
Investment Income
$621.9K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$40.6M
Awards Found
68
Department of the Treasury
$5M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Small Business Administration
$2.2M
NORTHEAST ENTREPRENEUR FUND INC - MN
Small Business Administration
$1.8M
NORTHEAST ENTREPRENEUR FUND, INC., MN THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$1.6M
NORTHEAST ENTREPRENEUR FUND INC. - MN
Department of the Treasury
$1.3M
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$1M
PURPOSE: TO PROVIDE SUPPLEMENTAL FUNDING TO CDFI FA AND NACA FA AWARD RECIPIENTS, FOR THESE CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) TO PROVIDE FINANCING ACTIVITIES TO SUPPORT HEALTHY FOOD RETAIL OUTLETS AND HEALTHY FOOD NON RETAIL OUTLETS, THAT EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS. PLANNED ACTIVITIES: HFFI FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE HFFI FINANCIAL ASSISTANCE IS TO EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS, PARTICULARLY THE AVAILABILITY OF HEALTHY FOOD RETAIL OUTLETS IN AREAS DESIGNATED AS LOW INCOME, LOW ACCESS FOOD AREAS. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Small Business Administration
$874K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Department of the Treasury
$750K
PURPOSE: TO PROVIDE SUPPLEMENTAL FUNDING TO CDFI FA AND NACA FA AWARD RECIPIENTS, FOR THESE CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) TO PROVIDE FINANCING ACTIVITIES TO SUPPORT HEALTHY FOOD RETAIL OUTLETS AND HEALTHY FOOD NON RETAIL OUTLETS, THAT EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS. PLANNED ACTIVITIES: HFFI FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE HFFI FINANCIAL ASSISTANCE IS TO EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS, PARTICULARLY THE AVAILABILITY OF HEALTHY FOOD RETAIL OUTLETS IN AREAS DESIGNATED AS LOW INCOME, LOW ACCESS FOOD AREAS. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Small Business Administration
$675K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - INITIAL
Department of the Treasury
$525K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$510K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$500K
PURPOSE: TO PROVIDE SUPPLEMENTAL FUNDING TO CDFI FA AND NACA FA AWARD RECIPIENTS, FOR THESE CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) TO PROVIDE FINANCING ACTIVITIES TO SUPPORT HEALTHY FOOD RETAIL OUTLETS AND HEALTHY FOOD NON RETAIL OUTLETS, THAT EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS. PLANNED ACTIVITIES: HFFI FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE HFFI FINANCIAL ASSISTANCE IS TO EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS, PARTICULARLY THE AVAILABILITY OF HEALTHY FOOD RETAIL OUTLETS IN AREAS DESIGNATED AS LOW INCOME, LOW ACCESS FOOD AREAS. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$500K
HEALTHY FOODS FINANCING INITIATIVE AWARD
Small Business Administration
$450K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - RENEWAL
Small Business Administration
$420K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - CARES ACT
Small Business Administration
$420K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - CARES ACT
Small Business Administration
$368.7K
WOMEN S BUSINESS OWNERSHIP ASSISTANCE RENEWAL
Small Business Administration
$355.3K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$300K
WBC - NORTHEAST ENTREPRENEUR FUND, INC. (DULUTH)
Small Business Administration
$300K
NORTHEAST ENTREPRENEUR FUND INC. - MN
Small Business Administration
$281.3K
WOMEN S BUSINESS OWNERSHIP ASSISTANCE (RENEWAL)
Small Business Administration
$268.6K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE GRANT
Small Business Administration
$200K
FY22 PRIME TECHNICAL ASSISTANCE NORTHEAST ENTREPRENEUR FUND INC
Small Business Administration
$200K
NORTHEAST ENTREPRENEUR FUND, INC., MN THE PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS ACT OF 1999 (THE PRIME ACT) BECAME LAW ON NOVEMBER 12, 1999 WITH THE PASSAGE OF PUB. L. NO. 106-102 (15 U.S.C. 6901 NOTE). THE PRIME ACT AUTHORIZES THE SBA ADMINISTRATOR TO ESTABLISH A PROGRAM FOR THE PURPOSES OF: (I) PROVIDING TRAINING AND TECHNICAL ASSISTANCE TO DISADVANTAGED ENTREPRENEURS; (II) PROVIDING TR
Small Business Administration
$200K
TECHNICAL ASSISTANCE AND SUPPORT TO ECONOMICALLY DISADVANTAGED ENTREPRENEURS IN RURAL AREAS AND IN HUB ZONES
Small Business Administration
$200K
GREENSTONE GROUP INITIATIVE PROVIDING TECHNICAL ASSISTANCE TO EMERGING BUSINESSES
Small Business Administration
$150K
WBC - MN - NORTHEAST ENTREPRENEUR FUND INC (BRAINERD)
Small Business Administration
$150K
NORTHEAST ENTREPRENEUR FUND, INC. CONTINUATION OPTION YEAR 1 (R-2021)
Small Business Administration
$150K
NORTHEAST ENTREPRENEUR FUND, INC. RENEWAL BASE YEAR (R-2022)
Small Business Administration
$150K
NORTHEAST ENTREPRENEUR FUND, INC. RENEWAL BASE YEAR (R-2022)
Small Business Administration
$150K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE RENEWAL
Small Business Administration
$150K
THE ENTREPRENEUR FUND (EF) ACTIVELY PARTNERS WITH ENTREPRENEURS TO GROW SUCCESSFUL BUSINESSES AND CREATE THRIVING COMMUNITIES. EF IS A CDFI THAT SERVES 17 RURAL COUNTIES IN NORTHERN MINNESOTA AND NORTHWEST WISCONSIN BY PROVIDING SERVICES AND SMALL BUSINESS FINANCING. EF WILL PROVIDE SERVICES TO 250 DISADVANTAGED MICROENTREPRENEURS TO IMPROVE KEY BUSINESS SKILLS, DEVELOP ENTREPRENEUR NETWORKS, AND
Small Business Administration
$150K
PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS - PRIME
Small Business Administration
$123.4K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE-RENEWAL
Small Business Administration
$119.9K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE
Department of Agriculture
$100K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$98K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Department of Agriculture
$95K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Department of Agriculture
$95K
RBDG RURAL BUSINESS COOP RURAL ENTERPRISE GRANT
Department of Agriculture
$77.3K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$45.2K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$40K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$40K
SEC. 6022 RMAP-RURAL ASSIST GRANTS (MAN)
Department of Agriculture
$39.6K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
11
Clean Audits
10
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $13M | No | 2026-05-20 |
| 2025 | Clean | Unmodified (Clean) | $2.5M | No | 2025-07-23 |
| 2024 | Material Weakness | Unmodified (Clean) | $14.5M | Yes | 2025-07-23 |
| 2023 | Clean | Unmodified (Clean) | $15.6M | Yes | 2024-05-24 |
| 2022 | Clean | Unmodified (Clean) | $16.2M | Yes | 2023-06-08 |
| 2021 | Clean | Unmodified (Clean) | $15.5M | Yes | 2022-05-22 |
| 2020 | Clean | Unmodified (Clean) | $10.8M | Yes | 2021-10-20 |
| 2019 | Clean | Unmodified (Clean) | $6.6M | Yes | 2020-05-20 |
| 2018 | Clean | Unmodified (Clean) | $6.1M | Yes | 2019-05-30 |
| 2017 | Clean | Unmodified (Clean) | $3.6M | Yes | 2018-04-03 |
| 2016 | Clean | Unmodified (Clean) | $3.3M | Yes | 2017-02-28 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$13M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$14.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$15.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$16.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$15.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$10.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3.3M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $20.6M | $16.5M | $13.6M | $83.4M | $36.1M |
| 2023 | $12.8M | $8.8M | $7.8M | $70.8M | $29.1M |
| 2022 | $13M | $10.1M | $7.2M | $67.9M | $24.1M |
| 2021 | $11.5M | $8M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Shawn Wellnitz | Ceo/president | 40 | $251.3K | $0 | $12.3K | $263.5K |
| Kurt Thompson | COO | 40 | $154.2K | $0 | $20.6K | $174.9K |
| Carla Tichy | Dir. Of Accounting And Compliance | 40 | $109.7K | $0 | $22.4K | $132.1K |
| Jim Zastrow | Treasurer | 2.5 | $0 | $0 | $0 | $0 |
| Tabitha Beiber | Treasurer (thru 8/31) | 1 | $0 | $0 | $0 | $0 |
| Crystal Rohde | Chair | 1 | $0 | $0 | $0 | $0 |
| Arik Forsman | Vice-chair | 1 | $0 | $0 | $0 | $0 |
Shawn Wellnitz
Ceo/president
$263.5K
Hrs/Wk
40
Compensation
$251.3K
Related Orgs
$0
Other
$12.3K
Kurt Thompson
COO
$174.9K
Hrs/Wk
40
Compensation
$154.2K
Related Orgs
$0
Other
$20.6K
Carla Tichy
Dir. Of Accounting And Compliance
$132.1K
Hrs/Wk
40
Compensation
$109.7K
Related Orgs
$0
Other
$22.4K
Jim Zastrow
Treasurer
$0
Hrs/Wk
2.5
Compensation
$0
Related Orgs
$0
Other
$0
Tabitha Beiber
Treasurer (thru 8/31)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Crystal Rohde
Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Arik Forsman
Vice-chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Michael Lattery | Dir. Of Business Finance | 40 | $156.4K | $0 | $21.4K | $177.9K |
| Zachary Hoy | Credit Manager | 40 | $114.6K | $0 | $22.3K | $136.9K |
| Robert Sjostrand Jr | Dir. Of Business Services | 40 | $108K | $0 | $7,340 | $115.4K |
Michael Lattery
Dir. Of Business Finance
$177.9K
Hrs/Wk
40
Compensation
$156.4K
Related Orgs
$0
Other
$21.4K
Zachary Hoy
Credit Manager
$136.9K
Hrs/Wk
40
Compensation
$114.6K
Related Orgs
$0
Other
$22.3K
Robert Sjostrand Jr
Dir. Of Business Services
$115.4K
Hrs/Wk
40
Compensation
$108K
Related Orgs
$0
Other
$7,340
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| David Manion | Director | 1 | $0 | $0 | $0 | $0 |
| Diane Weber | Director | 1 | $0 | $0 | $0 | $0 |
| Dustin Goslin | Director (thru 8/31) | 1 | $0 | $0 | $0 | $0 |
| Elizabeth Chapman | Director | 1 | $0 | $0 | $0 | $0 |
| Jake Robinson | Director | 1 | $0 | $0 | $0 | $0 |
| Julie Padilla | Director (thru 8/31) |
David Manion
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Diane Weber
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Dustin Goslin
Director (thru 8/31)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $6.1M |
| $61.6M |
| $18.3M |
| 2020 | $10M | $7.2M | $4.8M | $46.3M | $12.9M |
| 2019 | $4.9M | $2.5M | $3.5M | $27.9M | $7.8M |
| 2018 | $3.8M | $2.2M | $3M | $23.4M | $6.3M |
| 2017 | $2.6M | $1.4M | $2.5M | $17.3M | $5.5M |
| 2016 | $2.9M | $2.2M | $2.4M | $14.2M | $5.4M |
| 2015 | $2M | $1.4M | $1.6M | $11.4M | $4.9M |
| 2014 | $2.4M | $1.8M | $1.7M | $9.9M | $4.5M |
| 2013 | $1.7M | $1.3M | $1.5M | $8.3M | $3.8M |
| 2012 | $1.7M | $1.4M | $1.7M | $7.9M | $3.6M |
| 2011 | $1.8M | $1.4M | $1.7M | $8.1M | $3.6M |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Megan Erickson Kellin | Director | 1 | $0 | $0 | $0 | $0 |
Elizabeth Chapman
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jake Robinson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Julie Padilla
Director (thru 8/31)
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Megan Erickson Kellin
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0