6.1. HANDOUT EDA 05-19-2014 5/19/2014
Powering Possible
Thanks&Welcome
City of Elk River EDA,
Staff&Guests
May 19,2014
Sandy Voigt
Initiative Foundation
320,632.9255
Powering Possible
-Celebrating 27+Years!
-Created in 1986 by McKnight Foundation
-John Babcock,The BANK of Elk River-IF Board Trustee
&Loan Committee member;
-The late Chuck Christian-former IF Board Trustee&
Loan Committee member
-Since Inception-
•$25 million in grants to nonprofits
•$42.3 million in business financing loans
•$258 million in private leverage
-Awarded 701 scholarships
-Over 5,000 community leaders trained
Initiative Foundation
Service Area
1
5/19/2014
Powering Possible
Apply for a Grant
-Help communities address barriers to business growth
and employment
-City Wide Marketing&Branding Strategy for Elk River
•Sponsorships of Energy Fxpa
•Volunteers in Service to America(Vista)-Great River Family
Promise
-Elk River EDA Professional Staff Development(3 grants)
-Car Care support to Community Aid of Elk River
•Fending Professional Staff Development Grant with City of Elk
River EPA
Powering Possible
-Advance economic self-sufficiency for vulnerable
Children and families
-Elk River YMCA-Youth Activity Center&Leaders Club
-Elk River School District-Early Childhood School Readiness
-Elk River Early Childhood Coalition
•RiteCare Clinic of Elk River
-Support training programs for future,displaced or
unemployed workers
-Caring Rivers United Way
-Community Aid of Elk River
-Cum Center,Inc,dba New Beginnings
Powering Possible
-Help businesses survive and grow through access to
consulting services a nd education
-Anderson Center fcr Management and Business Development
-Business Retention and Expansion training through U of M
-Educational institution training and scholarships
-Help communities improve efficiencies through shared
services
-Three Rivers Community Foundation(TRCF)
•Land of Lakes Choirboys of MN
Buys&Cirls Cluh of Elk River
-Special Olympics of Elk River
-Central Lutheran Church Summer Food Program
2
5/19/2014
Thriving Communities Initiative
Innovation Networks,2014
'Innovation Networks-Focus on a Single Issue at a time
•Identify new and emerging leaders/communities with fresh ideas,
strategies and a passion for addressing the issue.
•Select 3—4 Communitieswho will be part of an issue cohort.
•Help build the capacity of identified leaders and communities to
address the issue through customized training,peer learning,
technical assistanceandgrants.
Thriving Communities Initiative
Innovation Networks,2014
•Share results with other communities to inspire additional
actions.
•Award best idea/strategy with additional technical and
grant support to move forward.
First Issue:"How do rural communities support career
exploration and development of entrepreneurial skills in
young people?"
Powering Possible
Thriving Organizations Partnership(TOP)
-Financial Resiliency&Social Enterprise:6 to 10 orga Ri2ations
annuatiy participate in financial accountability,management,
leadership and social enterprise training&support.
-Leaders Circles:Peer Coaching G roups for Nonprofit Executives
-Results-Based Programming:4 to 6 organizations participate in
training to deveEop,implement and evaluate measurable,
outcome-based services and programs.
-Access to Partner Services: Increase local access to an array of
metro-based partner nonprofit capacity-building services in rural
communities.
3
5/19/2014
Powering Possible
Economic Opportunity&Business Financing
•Direct Business Loan Fund(Including USDA's Intermediary
Relending Program—IRP)
up to$250,000 for manufacturing or value-added agriculture
companies that tiring new revenue to communities
-Green Business Loan Fund
Up to$250,000 for businesses that preserve the environment,
reduce energy demands or recycle existing waste streams
•Technology Capital Fund
Upto$500,000 for emerging high-tech ventures and
technologies that increase manufacturing productivity
Powering Possible
Economic Opportunity&Business Financing
-Lender Match Loan Program
up to$50,000 for subordinated financing to match the senior
financial institution-Collateral coverage may not exceed 100%.
-Nonprofit Loan Program
Up to$50,000 for 501 Icl(31 nonprofit organizations creasing or
expanding mission-related social enterprise/earned income
ventures
Powering Possible
Early Childhood Coalitions&Dental Network
Expansion
-increase access to timely,appropriate and affordable dental
care with a focus on children ages birth to five;and
Increase oral health awareness and education to children,
parents and families to help them understand the importance
of good oral health to one's overall health and well being.
-Determine perceived gaps and needs in each commun lty
-What's missing?
-Prioritizing the needs-what to tackle first
-identify Interested Advisory Council members in Central
Region
-Expand current provider list
4
5/19/2014
J Powering Possible
Philanthropy and Local Giving
•Generai and Designated Endowment Contributions
Providing tax advantage transition of assets
-Turn Key Funds
-community Foundation Funds-TRCF;lash Richardson Youth
Arts Fund;Friends of the Library;
•business Loan Funds
-Donor and Committee Advised Funds
-Nonprofit Endowment Agency Funds
-Scholarship Funds-Powell Scholarship Fund;TRCF;ZES
•Field of Interest Funds
.Si Projects
Powering Possible
Questions or
Projects?
Sandy Voigt svoigt @ifound.org
5
Economic Development (20)05 First Street
4 Street SE SE
& Business Financing Little Falls,MN 56345
Since its inception in 1986, the Initiative Foundation has been involved in economic and community ifound.org
development initiatives to support healthy,sustainable community living that includes access to quality jobs.
• We partner with community development efforts through training and capacity-building programs as
well as grants in support of community planning and projects.
• We support economic development through business financing activities designed to create living-wage
jobs, diversify local economies and leverage private sector investment.
Business Financing Programs
The Initiative Foundation's Business Financing programs meet the "gap" between the financing a local lender is
able to provide and the equity the owner is able to contribute. By offering gap financing to supplement owner
equity and taking a position as a subordinate lender, Initiative Foundation business financing programs are a tool
to help lending institutions better serve local businesses.
The Foundation focuses resources on financially sound businesses with clear impacts:
• Creation and retention of quality living-wage jobs with benefits
• Business contributes to a strong and diversified local economy
• Project supports local community's economic development objectives
Direct Business Loan Fund
Our Direct Business Loan Fund fills the gap in financing packages for new or expanding companies that show
potential for quality job creation or retention.Targeted industries include manufacturing,technology-based
business sectors and value-added agriculture. (Eligible uses:real estate, equipment and working capital)
• Loan amounts of$50,000 to$250,000
• Minimum 50 percent bank or lending institution participation
• Subordinate collateral position
Technology Capital Fund
The Technology Capital Fund supports emerging technology ventures and helps established businesses integrate
proven productivity applications into operations.(Eligible uses:Fixed assets, working capital, commercialization of
new product launch and productivity-enhancing software systems)
• Loan amounts of$50,000 to$500,000
• Primary lender participation if feasible but not required
• Flexible terms and collateral requirements
• Established businesses, pre-revenue businesses and start-up ventures
Green Business Loan Fund
The Green Business Loan Fund supports entrepreneurial ventures by financing new or expanding businesses that
deliver a product/service that protects or preserves the environment, reduces or recycles an existing waste stream
or reduces energy demands/costs. (Eligible uses:real estate, equipment, and working capital)
• Loan amounts of$50,000 to$250,000
• Minimum 50 percent bank or lending institution participation
• Subordinate collateral position
Questions? Contact Us.
Find more information,visit ifound.org or contact Dan Bullert, Business Finance Manager, at(320)631-2013 or
dbullert @ifound.org.
Powering Possible Fqual opportunity lender p,ov aer and employer
r
INITIATIVE FOUNDATION
LOAN PROGRAM GUIDELINES: Lender Match Loan Program
6
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PROGRAM DESCRIPTION <"n
Under the Lender Match loan program, the Initiative Foundation provides crucial capital to
eligible businesses that minimizes the out of pocket cash outlay otherwise needed for a down m
payment on the purchase of equipment or real estate,and thereby preserves precious
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working capital. The Initiative Foundation provides up to $50,000 of subordinated financing
to match the senior financing provided by a financial institution issued under its standard
loan policy guidelines. The combined financing of both loans may not exceed 100% of the
total financing package or value of assets. In most cases, the Initiative Foundation will make a
final decision on credit requests within three to five business days, based on information
<s
provided by the financial institution. G;
N
O
TYPES OF BUSINESS ELIGIBLE
The targeted sectors for the program are manufacturing, technology,wholesale, and other j3
businesses,which contribute to the economic base of central Minnesota through the provision
of existing and new employment opportunities.
Financing for startup entities and nonprofit organizations may qualify. Generally, retail and
personal service businesses do not qualify.
COLLATERAL AND GUARANTEES
The collateral for an Initiative Foundation loan generally consists of a sole second priority
interest in the fixed assets to be acquired, along with a subordinated general security interest
in all assets of the borrower. Collateral coverage may not exceed 100% of the cost of the
assets to be acquired through financing. Personal guarantees from all primary owners of the
business are required.
PROGRAM LENDING GUIDELINES
• Initiative Foundation Loan: Up to a maximum of$50,000. This loan is originated and serviced
by the Initiative Foundation.
• Origination Fee: The borrower will pay a one percent origination fee,and other third party expenses
such as loan document preparation and any related filing fees.
• Financial Institution Loan: Must be equal to or greater than the Initiative Foundation loan,and
issued according to the institution's loan policy for debt service coverage and collateral.
• Maximum Size of Loan: Typically, combined loans are equivalent to the amount of the assets
being acquired. This normally includes only hard costs for the purchase or other assets,but does
not include applicable taxes,shipping, set-up,training, or other incidental costs.
6�''��v3k'a"l '�: 1'i'i1•n Equal cppnrtuniry 1�nrL�i providt r and omployer
FINANCING TERMS
Subject to the above criteria, the financial institution recommends the appropriate split between
the institution and Initiative Foundation's participation in the project. The institution establishes
its own terms and conditions for the loan with respect to interest rate, term, amortization,
reporting and insurance, loan covenants and other matters. The Initiative Foundation's
participation normally mirrors those same terms and conditions, with the exception of the interest
rate,which ranges from five percent to seven percent.
FINANCIAL INSTITUTION RESPONSIBILITIES
The lender is responsible for preparing a brief application for review and consideration by
Initiative Foundation staff, and closing the transaction with the borrower.
• Lender Application: The lender prepares a brief application that is submitted to the Initiative
Foundation. This application is accompanied by additional supporting information including a credit
presentation,most recent annual review of the borrower, and a letter addressed to the Initiative
Foundation specifying the proposed terms and conditions of the loan.
• Loan Closing: The lender arranges a closing date for the transaction,and notifies the Initiative
Foundation. The Initiative Foundation will prepare its own documents,and coordinate its closing along
with the lender,if possible.
BORROWER RESPONSIBILITIES
The borrower must cooperate with the lender and Initiative Foundation as follows:
• Information Sharing: Authorize the financial institution to provide financial and other information on
the borrower to the Initiative Foundation from which the Foundation can make a credit determination.
• Employment Reports: Agree to complete an employment report at the inception of the loan and
annual employment surveys effective December 31,for each year the participation loan is open.
INITIATIVE FOUNDATION RESPONSIBILITIES
The Initiative Foundation reviews complete requests within three to five business days. Once
approved, the Foundation provides a formal loan approval letter addressed to the institution. The
Initiative Foundation works closely with partner institution to close the financing transaction
within a timely manner.
The Initiative Foundation always welcomes inquiries. Please contact Dan Bullert, Business Finance
Manager at 320-632-9555 or dbullertRifoun d.org for further information.
Nonprofit Loam Program
11_k2
Loans fog°SN(C)( ) Business Ventures
As an integral part of our work to create a resilient nonprofit sector, the Initiative Foundation pro-
vides financing up to $50,000 to eligible nonprofit organizations for the creation or expansion of
mission-related earned-income/social enterprise activities. Loan proceeds may be used for working
capital, equipment acquisition and/or facility improvements for earned-income/social enterprise
activities, which are clearly defined in a written business plan.
Loans are available to eligible nonprofit organizations of different sizes and fields of service includ-
ing, but not limited to: community development, human services, health care, housing, education,
environmental, arts and humanities.
Eligibility
Any 501(c)(3) nonprofit organization in the Initiative Foundation's 14-county service area is eligible
to apply. The focus of the program is to provide financing to nonprofit organizations creating or
expanding mission-related social enterprise/earned income ventures.
PROGRAM LEKDZNG GUMELMES > '
+onprofit loans:
Amounts up to $50,000.
The term/amortization, --
loan covenants, reporting and insurance
requirements and other matters are
determined on a case-by-case basis.
Generally, the interest rate ranges from 2
to 4 percent, fixed. BORROWER RESPONSTS UTIES a
The collateral
for a loan will generally consist of a The borrower must cooperate with the
security interest in all business assets or Initiative Foundation as follows:
real estate of the borrower, and may be Information sharing Borrower agrees to
in a first or second position. Guarantees provide financial and other information to
will generally not be required; however, the the Foundation from which the Foundation
organization's board members may have a can make a credit determination.
Legal liability per state statute. Iptoyw, -1t reF Borrower agrees
The borrower will pay a to complete an employment report
one percent origination fee, plus other at inception of the loan and annual
third-party expenses for documentation, employment surveys by Dec. 31 each year,
recording, etc. for the term of the loan.
Lending decisions Borrower agrees to
generally are made within five to 10 comply with the Foundation's request
business days from the date the Initiative for financial statements and/or progress
Foundation receives the application and all reports time to time and at least annually,
supporting materials. for the term of the loan.
For more information, contact, if Dan Bullert i�ilt� t� �
Business Finance Manager F n nit 7 i r
(877) 632-9255 I dbullert@ifound.org
ifout'l+d,org 1 (877)632-9255 1 405 First Street SE I Little Fars, MN 56345 EgLWOPPWI.ity Lender,P,—Id,,aid Employer
Thriuing Organization Partner shi]�
E4
What M euery nonprofit ®rganization had access to the informatign and suppart
the y r eeded to thrice?
Thriving Organizations Partnership (TOP), capacity-building programs designed to help Central Min-
nesota nonprofits advance their missions.
TOPpro_qram components: OUR COR9HITMENT
• Financial Resiliency& Social Enter rise:An intensive financial Thriving nonprofit organiza-
leadership and social enterprise cohort training program tions are critical to strong
designed for well-established nonprofit organizations. economies and strong com-
Training opportunities munities. They work to remove
barriers to employment, create
Leaders Circles : Professionally-facilitated small groups livable wage jobs, provide job-
of nonprofit peers coming together to build leadership and skills training, build financial
support. Available to all 501(c)(3)nonprofit organizations literacy, enhance local eco-
serving the 14-counties of central Minnesota. nomic development, provide
safety net services and assist
• Olen Office Hours Access to professional services in the in the placement of thousands
areas of board development, strategic planning, financial of unemployed and underem-
management, business planning, evaluation, nonprofit Ployed rural residents.
Law and technology... provided by partner organizations.
Available to all 501(c)(3) nonprofit organizations serving the
14-counties of central Minnesota.
• VISTA:VISTA members help nonprofit agencies develop,
expand & coordinate services and programs designed to help
low-income people become more self-sufficient and address
poverty-related issues within communities.
• Nonprofit e-Learning: Coming in 2014!
For more information, contact
(320) 632-9255 Initiative
ifound.org 1 (877)632-9255 1 405 First Street SE I Little Falls, MN 56345 ��.,<, ,, wr�•,F, �e, ne„,�m.F,
U1,14
Economy. Community. PNIanLff W 0
wi
The ZnitiaVue Foundation Empowering People to Build, Sustain Healthy Communities
Formed in 1986 by a partnership of regional leaders and The McKnight Foundation, the Initiative
Foundation is one of six unique, nonprofit Minnesota Initiative Foundations serving the regions of
Greater Minnesota. We believe local people - not outside organizations - have the necessary enthu-
siasm, knowledge and relationships to achieve a brighter future.
Good Works Supported By Sound Strategy
The Foundation's strategic framework is based on the philosophy that economy, com-
munity and philanthropy are intertwined. This three-pillared approach helps us to coL-
Laborate in truly meaningful ways to unlock the power of each community and all of
Central Minnesota.
Our charitable work is supported by a spectrum of public and individual donors. Earn-
ings from investments in the Foundation's operations and permanent endowment are
returned to Central Minnesota communities through grants, programs and business
financing.
We are proud to serve the 14 counties of Central Minnesota that include
160 hometowns and two tribal nations,each with its own unique character and local assets.
Economy
F01— Woven into our fabric is the firm belief that a quality job is the most essential element of
tT a stable family and a strong community. We offer business loans to secure quality jobs,
and we invest grants in workforce training to fill these job opportunities. Our goal is to
support local business growth and attract new revenue to the region.
BUSINESS FINANCING,CONSULTING I MANUFACTURING,TECHNOLOGY AND EXPORTING I ECONOMIC,WORKFORCE DEVELOPMENT GRANTS
Community
Central Minnesota is defined by its quality of life -the special people, places and or-
o°°°° ganizations of each hometown.We gather business, nonprofit and government leaders
to identify and enhance these unique assets. Working together, we inspire community
service and plan for a brighter future.
COMMUNITY VISIONING AND PLANNING I NONPROFIT TRAINING AND CONSULTING I GRANTS TO SUPPORT QUALITY OF LIFE
Dh��ar�♦},q-nr.er
We help donors give back to Central Minnesota and leave a permanent legacy. Every
donated dollar is matched by The McKnight Foundation and returns more than $6 in
grants, loans and scholarships to the region.We also work with families, businesses and
nonprofits to create named funds that support their favorite charities.
DONORSERVICES TURN KEY CHARITABLE FUNDS PROFESSIONAL INVESTMENT OVERSIGHT TAX-ADVANTAGEDGiFTS
For more information, contact, 0
Initiative Foundation Initiative
(877) 632-9255 1 info@ifound.org
F 0 U N D A T 1 0 N
Tavnd.org 1 (877)632-9255 1 405 First Street SE I Little Falls, MN 56345 ��vaop�o, n,� e„dP,,�,w;de.aaE,POYE,
4a/14
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Projects Funded in Sherburne County
(through 12131/13) INITIATIVE
FOUNDATION
RECENT GRANTS AWARDED ...
ORGANIZATION NAME PROJECT TITLE AMOUNT
CY 2013
728 Cadets, Inc., Elk River* Elk River Area Marching Band Perc Improvements(TRCF) $2,100
Baldwin Township, Princeton Phase II Healthy Community Partnership Plan 10,000
Central Lutheran Church, Elk River* Food Distribution(MJBF) 1,000
Christians Reaching Out in Social Service, Rogers* Housing Assistance Fund(TRCF) 2,600
City of Big Lake River Oaks Park and Trail Plan 2,500
Community Aid of Elk River* Car Care 5,000
Community Aid of Elk River* Kidz Kitz(TRCF) 5,000
Community Aid of Elk River Technology Planning for Elk River Area Nonprofit 3,000
Elk River School District* Ivan Sand Comm High School Tech Enhancements(TRCF) 1,600
Elk River School District* Early Childhood Family Education(TRCF) 3,600
Elk River School District Early Childhood School Readiness Project 5,000
Elk River School District* Evening of the Arts(TRCF) 2,100
Faith in Action Greater Sherburne Cty, Becker* Services for Individuals&Families in Crisis(TRCF) 2,600
Faith in Action Greater Sherburne Cty, Becker TOP Financial Resiliency through Social Enterprise 10,000
Friends of Sherburne Nat'I Wildlife Refuge,Zimmerman* Nature Explore Center Enhancements(TRCF) 3,500
Great River Family Promise, Elk River* Aftercare Program for Elk River Area Families 5,000
Great River Family Promise, Elk River* Transportation Assist for Homeless Families(TRCF) 3,000
Land of Lakes Choirboys of MN, Inc., Eik River* SingOut! Festival(TRCF) 1,600
Rivers of Hope, Monticello Violence Intervention&Prevention for Youth 5,000
Tri-County Action Program Inc.Waite Park Tax Preparation for Low Income Families 2,500
YMCA of Greater Twin Cities Elk River YMCA Youth Activity Center&Leaders Club(TRCF 1,100
CY 2012
728 Cadets, Inc., Elk River 728 Cadets Scholarship&Musical Enhancement(TRCF) 3,500
Becker Public Schools Robotics Team 5,000
Boys&Girls Club of Elk River* Power Hour(TRCF) 2,500
Central MN Community Foundation, St.Cloud* Good Samaritan Fund(JPMFF) 1,000
Christians Reaching Out in Social Service, Rogers* Empowering Through Emerald(TRCF) 1,500
City of Big Lake Community Engagement to Create Public/Private Partnership; 2,500
City of Elk River EDA Professional Staff Development 1,150
Community Aid of EIk River Car CAER Vehicle Repair Program 5,000
Community Aid of Elk River* Kidz Kitz(TRCF) 3,500
Cura Center, Inc.,dba-New Beginnings, Elk River* Transitional Housing Program for At-Risk Mothers(TRCF) 1,750
Elk River School District* ECFE Encouraging Family Ties Project(TRCF) 3,500
Elk River School District* VandenBerges Wolf Ridge Trip(JRYAF) 2,000
Elk River School District* Rogers High School Art Project(JRYAF) 2,800
Elk River School District`" Rogers Middle School Wolf Ridge Activities(JRYAF) 2,000
Faith in Action Greater Sherburne County, Becker* Support&Services for Families in Need(TRCF) 2,500
Friends of the Elk River Library* Support of the Elk River Library(FOIL) 6,166
HIS Healing Heart,St. Michael* "Horse Powered HOPE"Project(TRCF) 3,500
Land of Lakes Choirboys of MN, Inc., Elk River* SingOutf 1,000
Monticello Chamber of Commerce and Industry "reSTORE"Project 5,000
Rivers of Hope, Monticello* Youth Violence Intervention&Prevention Program (TRCF) 3,500
Sherburne County Area United Way, Elk River* iEmpower Youth Program(TRCF) 1,750
Special Olympics of Elk River* Team Operating Funding(TRCF) 1,500
YMCA of Greater Twin Cities, Elk River` Elk River YMCA Youth Devlopment&Healthy Living(TRCF) 2,000
YMCA of Greater Twin Cities, Elk River Fall Seminar Series&The Annual Summit 5,000
CY 2011
Baldwin Township, Princeton Baldwin Volunteer Corps 10,000
Baldwin Township, Princeton First Annual"Nite to Unite"Event 1,000
Catholic Charities,St.Cloud* Three Rivers Senior Health&Welness Series(TRCF) 3,500
Central Lutheran Church, Elk River* Summer Food Program(TRCF) 5,500
City of Big Lake 2012 Strategic Planning&Goal Setting 2,500
Community Aid of Elk River* Kidz Kitz(TRCF) 4,000
Elk River Area Arts Alliance Capital Campaign Feasibility Study 6,500
Elk River School District" Arts Infusion(TRCF) 2,000
Elk River School District Elk River Area Early Childhood Coalition 10,000
Elk River School District* ECFE Encouraging Family Ties Project(TRCF) 3,195
Elk River School District* Health Services: Hearing Screening Equipment(TRCF) 909
Elk River School District HOP StayStrong-EOC 14,500
Friends of the Elk River Library* Support of the Elk River Library(FOTL) 350
Great River Family Promise, Elk River Interfaith Hospitality Network 5,000
HIS Healing Heart,St. Michael* Horse Powered HOPE Scholarships for Kids(TRCF) 3,000
Ivan Sand Community School, Elk River" Youth Frontiers Student Program(TRCF) 919
RiteCare Clinic, Elk River HOP StayStrong 8,500
Student Theatrical Arts Assoc of Rogers(STAAR)* Rogers High School 2012 Spring Musical(TRCF) 5,000
CY 2'010
Abba Pregnancy Resource Center, Elk River* Earn While You Learn(TRCF) 2,000
Baldwin Township,Sherburne County Healthy Community Partnership Training 10,000
City of Big Lake City Goals and Vision Retreat 1,000
City of Big Lake IEDC Business Retention&Expansion Training 300
City of Elk River Economic Development Authority City Wide Marketing&Branding Strategy 5,000
City of Elk River Economic Development Authority 4th Annual Energy Expo 1,000
Command Performance Choirs, Elk River* 2010-2011 Concert Series(TRCF) 1,000
Community Aid of Elk River" Kidz Kitz Food Program(TRCF) 3,500
Community Aid of Elk River HOP GrowStrong 14,000
Elk River Area Arts Alliance* Cooperative Marketing(TRCF) 2,000
Elk River School District Early Childhood Coalition Follow-Up 15,000
Elk River School District* Encouraging Family Ties(TRCF) 2,125
Elk River School District* Evening of the Arts&Open Studio(JRYAF) 3,000
Elk River School District* Wolf Ridge Environmental Learning Center(TRCF) 1,000
Elk River YMCA* Youth Development Program (TRCF) 1,800
Faith Community Lutheran Church,Zimmerman* Passing the Bread/Zimmerman Food Distribution(TRCF) 1,200
Friends of the Kelley Farm, Elk River` A Day at the Farm (TRCF) 1,600
Great River Area Faith in Action, Becker AmeriCorps VISTA 11,000
Great River Area Faith in Action, Becker HOP StayStrong 7,500
Hope Filled Hands, Big Lake Operational Support 12,161
Land of Lakes Choirboys of MN, Inc.,Elk River* Leadership Development Program(TRCF) 1,000
Princeton School District Early Childhood Coalition Follow-Up 2,500
RiteCare Clinic, Elk River* "Toddler Talk"Parent Training Program(TRCF) 3,600
Rogers-Hassan Senior Friendship Group, Rogers* Senior Wellness Activities(TRCF) 2,000
Rum River Health Services, Inc., Princeton HOP StayStrong 7,500
Sherburne County Area United Way,Elk River HOP StayStrong 7,500
Sustainable Farming Assc of MN, Starbuck HOP StayStrong 7,500
The 2001 Committee,Inc.,EIk River* Citizens League Presentations(TRCF) 2,000
University of MN Duluth, Princeton Regional Biofuels Market Assessment 10,000
FCY 2009
Caring Rivers United Way, Elk River Communication and Outreach 2,500
City of Elk River Economic Development Authority Economic Development Certification 1,500
Elk River School District Elk River Area Early Childhood Coalition 10,000
Friends of the Elk River Library* Display Wall for Children's Area& Books(TRCF) 3,000
Saron Lutheran Church, Big Lake Hospitality Committee f=amily Outreach 1,000
FY 2008
Caring Rivers United Way, Elk River "The Next Best Thing"Community Forum 1,000
Central Lutheran Church, Elk River" Community Thanksgiving Dinner(TRCF) 1,500
City of Big Lake Eco. Devo. Finance Professional Certification 2,000
City of Big Lake Transit Oriented Development Planning Svcs. 5,000
Command Performance Choirs,Elk River* Spring Chorale Series(TRCF) 1,000
Community Chest Foundation, Rogers* Self Protection Classes(TRCF) 1,435
Elk River Area Arts Alliance* Main Street Storefront(TRCF) 2,000
Elk River School District* Alcohol Awareness and Prevention(TRCF) 2,500
Elk River School District* Arts Magnet Program(TRCF) 2,500
Elk River School District* LEGO Mindstorms(TRCF) 1,700
Elk River Senior Center* Fitness Equipment(TRCF) 2,000
Elk River YMCA Leaders Club 5,000
Friends of Sherburne National Wildlife Refuge,Zimmerman Fund Development Planning and Training 2,500
Ivan Sand Community School, Elk River* Music Lab with Michael Monroe(TRCF) 1,400
New Pathways, Inc.,Cambridge Building Phone Conferencing Capacity 2,500
Palmer Township, Clear Lake Water Quality Data Summit 1,000
RiteCare Clinic, Elk River* Video Modeling(TRCF) 1,000
Sherburne County Social Services, Elk River* National Youth Behavior Modification Program(TRCF) 1,865
The 2001 Committee, Inc., Elk River* Promote Civic Engagement(TRCF) 1,000
FY 2008 - PRESENT(115): $430,475
PRIOR YEARS (178): $754,194
TOTAL GRANTS (292): $1,184,669
SCHOLARSHIPS AWARDED ...
FUND NAME RECIPIENTICOMMUNITY AMOUNT
CY 2013
Three Rivers Community Foundation* Spectrum Charter School(TRCF) $1,000
Three Rivers Community Foundation* Rogers High School(TRCF) 7,000
Three Rivers Community Foundation* Ivan Sand Community School(TRCF) 1,000
Three Rivers Community Foundation* Zimmerman High School(TRCF) 4,000
Three Rivers Community Foundation* Elk River Area High School(TRCF) 7,000
Powell Scholarship Fund Elk River Area High School 500
ZES Scholarship Fund Zimmerman High School 700
CY 2012
Three Rivers Community Foundation* Hibbing Community College(TRCF) 500
Three Rivers Community Foundation* Elk River High School(TRCF) 6,000
Three Rivers Community Foundation* Rogers High School(TRCF) 6,000
Three Rivers Community Foundation* Ivan Sand Community School(TRCF) 1,000
Three Rivers Community Foundation Zimmerman High School(TRCF) 3,000
Three Rivers Community Foundation* Spectrum Charter School(TRCF) 1,000
Three Rivers Community Foundation* MN School of Business(TRCF) 1,000
Powell Scholarship Fund Elk River High School 500
ZES Scholarship Fund Zimmerman High School 700
CY 2011
Powell Scholarship Fund* Elk River High School(TRCF) 500
Three Rivers Community Foundation` Elk River High School(7)(TRCF) 7,000
Three Rivers Community Foundation` Ivan Sand Community School(TRCF) 1,500
Three Rivers Community Foundation* MN School of Business(TRCF) 1,500
Three Rivers Community Foundation* Rogers High School(5)(TRCF) 5,000
Three Rivers Community Foundation* Spectrum Charter School(TRCF) 1,000
Three Rivers Community Foundation* Zimmerman High School(2)(TRCF) 2,000
Zimmerman Lions PTO Zimmerman High School 700
CY 2010
Charity Evenson Memorial* 2010 Awards(8)(TRCF) 4,000
Powell Scholarship Fund* 2010 Award(TRCF) 500
Three Rivers Community Foundation* 2010 Awards(7)(TRCF) 22,500
Zimmerman Lions PTO* Westwood Elementary(1 award)(TRCF) 750
FCY 2009
Charity Evenson Memorial* 2009 Awards(5)(TRCF) 2,500
Powell Scholarship Fund* 2009 Award(TRCF) 500
Three Rivers Community Foundation* 2009 Awards(11)(TRCF) 11,000
Zimmerman Lions PTO* 2009 Award(TRCF) 500
FY 2009 -PRESENT(87): $102,350
PRIOR YEARS (145): $92,975
TOTAL SCHOLARSHIPS (232): $195,325
*Denotes awards made from a Turn Key fund of the Initiative Foundation,in parenthesis.(See Key)
RECENT BUSINESS FINANCING INVESTMENTS:
BUSINESS NAME BUSINESS TYPE LOAN TYPE
CY2013
Becker Screenprint, LLC(Falcon National Bank) Commercial garment screen print Existing
Biomatrix, Inc., Princeton(Sherburne State Bank) Mfg of products for agriculture markets Existing
CY 2012
Advanced Extrusion, Inc.(Anchor Bank) Plastic Manufacturer Expansion
FY 2008
Biomatrix, Inc., Princeton Development and Manufacturing Expansion
FY 2006
Gordon Training Center,Princeton Horse Training, Showing and Breeding Start-up
(The Bank of Elk River)
PK Partners, LLC, Elk River Distributor of Wastewater Treatment Systems Expansion
(The Bank of Elk River)
FY 2006
CDC Enterprises, Inc., Elk River-Charged Off Plastic Duct&Insulation Development Expansion
(Peoples Bank of Commerce,Cambridge)
D's Pizza Paradise, Becker Take and Bake Pizza Expansion
(State Bank of Delano)
FY 2004
Advanced Extrusion, Inc., Becker Manufacturing Expansion
FY 2004 - PRESENT(12): $1,459,700
PRIOR YEAR LOANS (30): $1,475,300
TOTAL LOANS (42): $2,935,000
Total Business Investment Leveraged: $17,757,505
Total Jobs Created or Retained: 447
GRAND TOTAL OF GRANTS, LOANS & SCHOLARSHIPS
IN SHERBURNE COUNTY $4,314,994
For business start-up and expansion projects, Initiative Foundation Business Financing
Investments meet the "gap" between the financing a local lender is able to provide and
the equity the owner is able to contribute. By offering gap financing to supplement owner
equity and taking a position as a subordinate lender, Initiative Foundation business financing
programs are a tool to help lending institutions better serve local businesses.
Turn Key Fund
ABFF Anderson Brothers Family Fund
ASEF Alternative Source or Energy Fund
BFMSF Betty Ford Menzel Scholarship Fund
BMBEF Bob& Marsha Bun er Endowment Fund
CFBFLA Conservancy Fund of Big Fish Lake Assc
CWEPAF Crow Wing Environment Protection Advised Fund
CLEF Cu una Lakes Education Foundation
FFF Family Farm Fund
FOTL Friends of the Library
GEPF Granite Equity Partners Fund
GPAE Greater Pine Area Endowment
HFF Hanowski Family Fund
JBSE John & Bonnie Schlagel Endowment
JPMF Jane& Patrick Mitchell Foundation
JRYAF Josh Richardson Youth Arts Fund
JTKF Julius &Tracy Kurpius Fund
MCAF Morrison County Area Foundation
MPPEF Minnesota Pioneer Park Endowment Fund
PCAS Paws & Claws Animal Shelter
PPF Planning & Preservation Fund
RRCF Rum River Community Foundation
SGMSF Shawn Grittner Memorial Scholarship Fund
SCF Staples Community Fund
TFWF Trees for Wadena Fund
TRCF Three Rivers Community Fund
VAPF Veteran's Art Protect Fund
WCHS Wright County Historical Society
WTRF Wadena Tornado Relief Fund
' Board of Trustees
John E.Babcock Reggie Clow Dan Meyer
BOARD VICE CHAIR Clow Stamping Atomic Learning
The Bank of Elk River
John J.Babcock Linda Eich Steue Shunts
Rotochopper Inc. DesJardins, z „ East Central Energy
PAST BOARD CHAIR
i4 Eich Motor Company
Mayuli Bales Pat Gorham p Earl Potter
Casa Guadalupe Fi m Gorham Companies St. Cloud State
Catholic Charities University
Rick Bauerly Lee Hanson Traci Tapani
Granite Equity Partners PAST CHAIR Wyoming Machine
Gray Plant Mooty
Charles Black Lance Larry Korf Wayne Wolden
Central Lakes College W, BOARD CHAIR City of Wadena
~ DeZurik
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Tarn Ivey Funds
COMM UNHY FUNDS NONPROFIT ENDOWMENT FUNDS
Delano Community Foundation (DCF) Big Birch Lake Endowment Fund
Greater Pine Area Endowment(GPAE) Conservancy Fund of Big Fish Lake Association Fund
Isle Area Community Foundation (IACF) Conservancy Fund of Roosevelt and Lawrence Area
Morrison County Area Foundation(MCAF) Lakes Association
Rum River Community Foundation (RRCF) Creating Entrepreneurial Opportunities (CEO) Fund
Staples-Motley Area Community Foundation Cuyuna Lakes Education Foundation
(SMACF) Fish Trap Lake Endowment Fund
Three Rivers Community Foundation (TRCF) Friends of Sherburne National Wildlife
Refuge Fund
SCHOLARSHIP FUNDS Gull Chain Preservation Endowment Fund
Alternative Sources of Energy Fund Horizon Health Partnership in Life Fund
Archie Pi Isabelle Powell Family Memorial Lake Region Conservation Club Fund(MCAF)
Scholarship Fund (TRCF) Land and Waters Preservation Trust
Betty Ford Menzel Scholarship Fund Leech Lake Area Watershed Foundation
Beverly M. e Scholarship Fund Longvi[le Area Community Foundation Endowment
Scholarship Bob l Pauline ne Johnson Memorial Minnesota Pioneer Park Endowment Fund
arship Fund Paws &Claws Animal Shelter
Bob Wright Memorial IFPA Scholarship Fund Sacred Heart-Knights of Columbus Fund (SMACF)
Holdingford Scholarship Fund Wright County Historical Society Fund
Little Falls Scholarship Fund
Madden's Pine Beach Scholarship Fund FIELD OF INTEREST FUNDS
Pillager Scholarship Fund Delano Emergency Family Fund
Shawn Grittner Memorial Scholarship Fund Family Farm Fund
Staples Knights of Columbus-Lloyd& Marion Gid- Manufacturing Fund of Central MN
dings Scholarship Fund (SMACF)
William & Ethel Nelson-Zimmerman Memorial COMMITTEEADVISED FUNDS
Scholarship Fund Crow Wing Environment Protection Advised Fund
ZES Scholarship Fund(TRCF) Nicholas P. Koenig H.E.R.O. Foundation
Pillager Education Foundation
DONOR-ADVISED FUNDS Sauk Rapids-Rice Education Foundation
Anderson Brothers Family Fund Thrive Fund
Bob & Marsha Bunger Endowment Fund SPECIAL PROJECTS
Edeburn Family Fund
Gaalswyk Family Fund Bartel[Wheel Park Fund
Granite Equity Partners Fund Sartell DOGPAC Fund
Hanowski Family Fund(MCAF) Trees for Wadena Fund
Jane& Patrick Mitchell Foundation Veteran's Art Project Fund
John & Bonnie Sch[agel Endowment Wadena Regional Wellness Center Fund
Josh Richardson Youth Arts Fund(TRCF) BUSINESS LOAN FUNDS
Julius &Tracy Kurpius Fund (SMACF) Menahga Loan Fund
Loren Fi Kathy Morey Family Fund(SMACF) Princeton Economic Development Loan Fund
Mark Wood Foundation (MCAF) St. Cloud State University Microlending Fund
Mel&Jeanette Beaudry Fund (TRCF) Todd-Wadena Economic Development Loan Fund
Quiet Oaks Hospice House Fund Wadena Tornado Relief Loan Fund
Initiative
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