Overview Money In Money Out People Audits Positions Interview Endorsements
About Southern minnesota initiative foundation is a regional development and philanthropic organization that fosters economic and community vitality in 20 counties of southern minnesota through a culture of collaboration and partnership, with a focus on entrepreneurs and early childhood development.
Donations are tax-deductible
Category
Community Development
Learn More ▾
Financial Snapshot FY ending 2024-06-30 Financial history 16 17 18 19 20 21 22 23 24
Latest FY2024: $8.4M · Peak FY2022: $22.2M · Avg: $9.7M
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
SOUTHERN MINNESOTA INITIATIVE FOUNDATION
Address 525 Florence AVE
Owatonna, MN, 55060-475
Governance Voting board members 15
Independent members 15
Conflict-of-interest policy Yes
Whistleblower policy Yes
Doc-retention policy Yes
Audit committee Yes
990 reviewed by board Yes
Compensation practices Severance payments No
Equity-based comp No
Supplemental retirement plan No
Compensation committee Yes
Used comp survey Yes
Board approved comp Yes
Initial contract exception No
Financial detail (Schedule D) Board-designated % 34.5%
Permanent endowment % 48.2%
Endowment held by related org No
Public records
These open in a new tab. AllCiv doesn't host filings directly — these are the authoritative public-record sources.