Spark

Spark

generosity • opportunity • curiosity • innovation

To view the full Initiative Foundation 2019 annual report, visit ifound.org/about-us/annual-reports.

24 Initiative Foundation ifound.org

Our Numbers Sources of Funds: $19,823,988

2019

Unrealized Gains on Investments $7,015,562 | 35% Grants & Contributions $5,177,175 | 26% Investment Income $4,210,356 | 21% Business Financing Revenue & Repayments $3,172,903 | 16% Other Operating Revenue $247,992 | 1%

Uses of Funds: $7,236,346

2019

*Includes $31,469 in fixed asset investments.

Economic Development, Loans, Investments $3,043,331 | 42% Grants, Scholarships & Fellowships $1,895,868 | 19% Foundation Operations* $834,203 | 11% Community Programs $650,462 | 9% Partner Fund Program $507,924 | 7% Fund Development $419,042 | 6% Communications & IQ Magazine $404,496 | 6%

Uses of Funds: A Snapshot ECONOMIC DEVELOPMENT, LOANS, INVESTMENTS

Economic Development & Lending

$2,511,928

anufacturing/ M Construction $590,000 | 19%

Inspire Local Ownership, Quality Jobs

ervice S $725,750 | 24%

etail/Wholesale R $310,922 | 10%

Investment Total:

E conomic Development & Lending Activities $615,256 | 20%

Alternative

$3,043,331

Agriculture $150,000 | 5%

Entrepreneurship Programs

$531,423 Initiators Fellowship $293,535 | 10% Enterprise Academy $237,888 | 8%

Housing

$120,000 | 4%

GRANTS, SCHOLARSHIPS & FELLOWSHIP STIPENDS Empower People Investment Total:

$1,895,868

artner Funds Grants P & Scholarships $1,237,603 | 65%

E conomic Development/ Entrepreneurship $177,581 | 10%

I nnovation Fund $343,184 | 18%

T hriving Communities Initiative $137,500 | 7%

* Excludes $519,000 in grant deobligations and repaid grant funds for our Healthy Lakes & Rivers program.

REGIONAL PROGRAMS

Create Thriving Communities Investment Total:

$1,158,386

Partner Funds $507,924 | 44% Thriving

Communities/ Early Childhood $270,417 | 24%

Endowment Value: 60.1 Million

Nonprofit

Organizational Development $201,690 | 17% Volunteers

in Service to America $178,355 | 15%

Total Assets: $81.8 Million

A complete audit report prepared by Schlenner Wenner & Co. is available upon request. For a summary of the Initiative Foundation’s impact on the region since inception, visit ifound.org/about-us/annual-reports.

FALL 2020

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