Financial Summary FY16
Financial Position
Revenue & Support
Expenses
Assets
Programs $4,102,702
Other $535,740
Program Contributions $2,443,854
Endowment Contributions $1,499,768
2016
Cash and Cash Equivalents
Total = $5,166,682
Total = $6,407,681
July 1, 2015 – June 30, 2016 $755,159
Restricted Cash
$123,660
$141,621
Grants/Contracts Receivable
$393,234
$422,707
Pledges Receivable
Administration $886,463
$11,896
$47,565
$166,122
$191,737
Other Receivables
$5,008
$13,854
Prepaid Expenses
$11,711
$10,823
$3,480,526
$3,309,134
$54,296,371
$53,672,002
Accrued Interest Receivable
Notes Receivable - Revolving Loan Fund Investments Other Equity Investments
$1,662,125
$1,512,530
Fixed Assets - Net of Accumulated Depreciation
$3,419,309
$3,313,519
$64,325,121
$63,308,373
Total Assets Fund Raising $177,517
$64,325,121
Investment Income $1,928,319
Total Assets as of June 30, 2016
$996,790
Loans Payable
$905,487
$828,192
$50,000
$150,000
Unrestricted
Total = $58,970
x
$391,829
$1,760,126
$1,755,020
$4,355,268
$4,579,519
$180,925
$209,458 $22,470,673
Permanently Restricted
$37,607,887
$36,048,723
Total Net Assets
$59,969,853
$58,728,854
$64,325,121
$63,308,373
Grant Programs Total = $442,110
31 Early Childhood Grants
$337,825
$22,181,041
Temporarily Restricted
Total Liabilities and Net Assets
$35,000
IDEA Competition
$166,960
$156,473 $940,297
Net Assets
$94,157
$51,747 $238,981
Other Liabilities
Total Liabilties
$170,360
$5,747 $199,313
Mortgage Payable
Agency Endowment Liability
Community Planning Natural Resources
Program Grants/Scholarships Payable
Granite Equity Partners Subscription Payable
$105,293
Caring Communities
Liabilities
Deferred Revenue
Annuity Payable
$37,300
Community Connections
2015
$672,881
Greetings!
Nonprofit Training & Leadership
Early Childhood Conferences & Training
$11,596
»» United for Children Conference = 110
Nonprofit Assessment & Technical Assistance
»» Quest for Quality Early Childhood Conference = 75
$22,912
»» Thrive Professional Education Series = 96 »» Creative Curriculum Training = 27
Leadership
312 PARTICIPANTS
$30,596 Training
Pete Haddeland
Serving as chairman of the board of the Northwest Minnesota Foundation, I am grateful and humbled to be learning much more than I am able to contribute. With this organization’s 30-year history, there is much to be proud of and celebrate. This year’s annual report will show you just a small part of that history.
As a board member, I have had the opportunity to meet many great people who do great things for their communities and the region. Above all, I have learned that in 30 years there are few places in our region that NMF has not touched. Still, NMF’s reach has little to do with the organization and everything to do with the people we serve. Our every initiative depends upon the people on the ground doing the work and sharing ideas about how to help their communities. Creative ideas for new business or philanthropic enterprises help us realize our vision. Please join us in support of the NMF endowment by making a donation within your means. We are working to make every bit of the next 30 years as successful as the last 30 years. Together, we can make this region an even better place to live and work.
Business
Celebrating 30 years!
FINANCE
Entrepreneur
DEVELOPMENT
Business Technical
$971,500
$278,200
$49,621
Business Total = $1,299,321
ASSISTANCE
Sincerely, Pete Haddeland, Chairman NMF Board of Directors
ANNUAL REPORT | 2016 FISCAL YEAR: JULY 1, 2015 – JUNE 30, 2016
OUR MISSION:
The Northwest Minnesota Foundation invests resources, facilitates collaboration, and promotes philanthropy to make the region a better place to live and work.