Northwest Blog

Financial summaries and financial position statements always take up large sections of annual reports. NMF’s recently published Fiscal Year 2015 annual report is no different. There are plenty of numbers, but little explanation.  Thanks are due to Sandy King, our long-time colleague, friend and partner at West Central Initiative , for helping come up with the ideas here that provide great information about annual reports and foundation endowment structure. The last two NMF annual reports have been redesigned with less text and more graphics. Besides cutting down on length, the new format met our goals of producing a vivid picture of NMF’s financial status, an easily understood look at our program impact, and a snapshot of our gains in raising funds for the region. Upon reading the financial section, you may be wondering “Why does NMF have over $63 million in assets?” Over 65 percent of the assets represent philanthropy – both in terms of NMF’s general endowment and our 345 c

Nonprofit organizations continue to experience changes in board and executive leadership, expanding or contracting missions, challenges and necessity for collaboration, financial stability, and shifting community need for services. Identifying, addressing and planning for these emerging and shifting needs is vitally important for the health of nonprofit organizations and the communities served by the Northwest Minnesota Foundation. In order to invest in and build the long term sustainability of the region’s nonprofit organizations, NMF is introducing Vital Nonprofits. This is a new delivery method for nonprofit capacity building services. The program will assist nonprofits to meet their missions through targeted and intensive training, assessment, technical assistance, coaching and peer executive and board learning sessions. The application process is competitive. NMF will intensely invest in the growth and development of up to five nonprofit organizations over a two-year period.

Nate Dorr, Program Officer Grants  Poverty is one of those huge, complex societal challenges.  It tends to be geographically localized, either by neighborhood or portions of a county (i.e. Mahnomen, Beltrami, and Clearwater counties).   It is often generational. A child born into poverty is more likely to remain in poverty into adulthood.  Although it is pervasive across all ethnicities, people of color are more likely to be in poverty.  Philanthropic and nonprofit groups have often been called out for “admiring the problem” of poverty.  Even with all these government programs and nonprofits, what does it take to make even the smallest improvements in poverty data?  Minnesota Compass data for our 12-county region shows an estimated 14.6% of the 170,450 people living in our region are at or below the Federal poverty line (estimated at 24,886 people).   This percent is above the Minnesota rate of 11.2% for the same time period, and an increase from northwest Minnesota’

Robert Maher was recently in Waubun, meeting with a potential new customer. Our business development department works with a variety of businesses and our loan officers are always prepared to meet with potential customers. NMF's business development program has two different loan programs. The Entrepreneur Development Program can be used to finance up to $35,000 of project costs including inventory, working capital and equipment purchases. The Business Finance Program is used to finance larger projects up to $300,000. The business program can be used to finance working capital, inventory, equipment purchases and real estate purchases. If you are looking for more information about applying for a business loan through our Business Development Department please do not hesitate to call Robert Maher, 218.759.2057 or toll free MN 800.659.7859.