Propel Nonprofits

Nonprofit profile at a glance

EIN
411916337
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6122496700
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$23,001,187
Expenses
$12,567,668
Assets
$61,665,697
Liabilities
$34,558,658

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

Leadership & pay

24 people listed

Executive titles in this filing

  • HENRY JIMENEZ (PRESIDENT AND CEO)
  • ELLIE O'BRIEN (VICE PRESIDENT & CFO)
  • KATE BARR (PRESIDENT AND CEO (THROUGH MARCH))

Highest reported compensation

  • HENRY JIMENEZ (PRESIDENT AND CEO): $267,186 total reported compensation
  • ELLIE O'BRIEN (VICE PRESIDENT & CFO): $190,578 total reported compensation
  • GARRETT BACKES (CHIEF ADVANCEMENT OFFICER): $159,798 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 mission of propel nonprofits is to fuel the impact and effectiveness of nonprofits with guidance, expertise, and capital. Propel nonprofits provides loans to nonprofits for facilities and working capital. We train nonprofit staff and boards to understand and build financial health, clear strategy, and strong governance practices. We provide expert knowledge, guidance, and insight for nonprofits about governance, planning, financial strategy, and sustainability. We consult and guide on strategy, organizational structure and financial plans, strategic alliances, and governance. We offer nonprofit accounting services and financial systems review. We provide fiscal sponsorship and support for emerging organizations and collaborations.

What it reported doing in 2024

Lending: as a community development financial institution (cdfi) certified by the u.s. Treasury, propel nonprofits makes loans to nonprofit organizations to expand programs and services, bridge cash flow gaps, consolidate debt, and make capital improvements. We believe that access to capital is essential to the growth and stability of the nonprofit sector. Propel nonprofits makes loans to nonprofits of all sizes and stages of development, many of which have been historically under-served by traditional markets. Loans are as large as $1.2 million and as small as $5,000. Overall, we made 73 new loans in fy2025 totaling $17,120,090. Our lending impacted nonprofit organizations working in health care, human services, arts and humanities, charter schools, community development, affordable housing, and more. By partnering with other capital providers, we also leveraged additional funds of $5.1 million into the community.

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 60% for direct work, and 40% for grants.

The verdict

STRONG - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.4%; rating input score 48
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: $45.82 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 38th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

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: 45.4%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 4.91; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 14.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 14.3% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 48.4% of revenue deployed · 85.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $10.8M in reported program spending
  • Leadership: top reported pay $267K · 24 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 92 filed money-flow records
  • Related organizations: 84 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.