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Initiative Foundation

Public charityFed auditsIRS 990990-T FY2023
Community Development · LITTLE FALLS, MN · EIN 36-3451562

About

To empower people to build thriving communities and a vibrant region across central minnesota.

Donations are tax-deductible
Category
Community Development
Employees
33
Volunteers
226

Financial Snapshot

FY ending 2023-12-31
Revenue
$10.0M
Expenses
$9.4M
Assets
$109.0M
Liabilities
$8.4M

Financial history

$18.8M$9.4M$0
1617181920212223
RevenueExpenses
Latest FY2023: $10.0M · Peak FY2022: $18.8M · Avg: $10.7M

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
—
Lobbying
$5K
Grants Given
$436K
INITIATIVE FOUNDATION
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Address

405 1ST ST SE
Little Falls, MN, 56345-300

Governance

Voting board members15
Independent members15
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planYes
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo

Financial detail (Schedule D)

Board-designated %53.1%
Permanent endowment %37.2%
Endowment held by related orgNo
Public records
ProPublica Nonprofit Explorer ↗
Full 990 PDFs going back to 2001, plus parsed financial extracts. The easiest place to read actual filings.
IRS Tax Exempt Organization Search ↗
IRS-side authoritative source. Confirms current exempt status and pulls the latest determination letter.
These open in a new tab. AllCiv doesn't host filings directly — these are the authoritative public-record sources.