Mn Fundraising Initiative

Nonprofit profile at a glance

EIN
841964216
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Ham Lake, MN, USA
Phone
7635757585
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$3,470,611
Expenses
$3,201,993
Assets
$1,724,846
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Martin Cross (CEO)
  • Monica Fisher (President)
  • Kelly McElderry (Vice President)

Highest reported compensation

  • Martin Cross (CEO): $159,436 total reported compensation
  • Jessica Musta (COO): $18,288 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

MN Fundraising Initiative's mission is to enrich the lives of youth and families by providing grants to fund opportunities they would otherwise not be able to experience.

What it reported doing in 2024

MN Fundraising Initiative provided financial assistance by way of grants to youth and families to allow family members to participate in organized activities including dance, sports, educational classes, & school activites. These activites provide life enrichment, help build self-esteem, aid personal and artistic development while helping build community connection which helps strengthen the community as a whole. In 2024 we were able to provide 2813 such grants.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 44th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.7%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 45.9% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 33.8% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 32.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $159K · 11 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $159K reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.