Northwest Minnesota Foundation

Nonprofit profile at a glance

EIN
411556013
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2022
Location
Bemidji, MN, USA
Phone
2187592057
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$11,071,050
Expenses
$10,149,806
Assets
$110,665,406
Liabilities
$5,676,412

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

Leadership & pay

21 people listed

Executive titles in this filing

  • KAREN WHITE (PRESIDENT)

Highest reported compensation

  • KAREN WHITE (PRESIDENT): $205,483 total reported compensation
  • SHANNON MARTINUEAU JESME (SENIOR VP OF FINANCE AND ADMIN.): $148,117 total reported compensation
  • MICHAEL NEUSSER (VP OF OPERATIONS): $143,217 total reported compensation

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

Overview

Mission

The northwest Minnesota foundation invests resources, facilitates collaboration, and promote philanthropy to make the region a better place to live and work.

What it reported doing in 2024

Mission-driven grants - nmf mission-driven grants were pivotal in addressing societal challenges and promoting community resilience, with a cumulative total of $1.34m (py $4.15m) approved throughout fiscal year 2025. Training and education grants: supporting nonprofit organizations capacity-building initiatives, conferences, programming, and consultant services for board and staff development. Dei grants: promoting diversity, equity, and inclusion. Homelessness grants: supporting transportation services for families to area shelters as needed. Housing grants: supporting market research and development of a region-wide workforce study, housing developers training, and specific community-driven housing projects. Innovation grants: supporting the expansion of addition-related services and innovative solutions to regional challenges.conclusion - the cumulative impact of nmf 's initiatives throughout fiscal year 2025 reflects a foundation deeply embedded in the fabric of northwest Minnesota. From robust philanthropic efforts, bolstering education, healthcare, and cultural endeavors, to strategic support for small businesses and innovative mission-driven grants, nmf has played a pivotal role in shaping the region's economic and social landscape. As the foundation looks forward to future endeavors, its commitment to connecting people, places, and possibilities remains unwavering, fostering boundless opportunities for the residents of northwest Minnesota.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 73.7%; rating input score 74
  • Fundraising efficiency: $4.85 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 65%; rating input score 65; 13th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 8.3%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 10.9; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 73.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $7.5M in reported program spending
  • Leadership: top reported pay $205K · 21 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $178K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 95 filed money-flow records
  • Related organizations: 88 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.