First Children's Finance is a nonprofit Community Development Financial Institution (CDFI) headquartered in Minneapolis, Minnesota. Founded in 1991, the organization helps children, families, and communities thrive by increasing the availability, affordability, and quality of early care and education throughout the United States. The organization accomplishes this mission by providing financial and business-development assistance to child care businesses serving low- and moderate-income families, as well as consulting and planning assistance to government agencies, intermediaries, and regional child care organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$15.8M
+4.9% YoY
Annual Giving
$14.9M
+62.6% YoY
Grant Count
1,119
+91.6% YoY
Avg Grant Size
$13K
-15.2% YoY
Mission & Focus Areas
First Children's Finance operates on the belief that access to affordable, high-quality child care is essential for all communities, as human capital development is the foundation of individual success and the engine of economic growth.
Primary focus areas include:
- Financial Assistance: Providing flexible, trustworthy financing to family child care providers and child care centers that may not be able to access capital elsewhere
- Technical Assistance: Offering business-development support tailored to the specific needs of child care businesses
- Early Childhood Development: Supporting the expansion and improvement of child care facilities and programming
- Community Development: Serving low- and moderate-income families and communities
Grantmaking
First Children's Finance provides both loans and grants to child care businesses:
Ready to take the next step with First Children's Finance?
Geographic Focus
Where this funder awards grants
First Children's Finance operates across a multi-state region:
- Primary lending states: Iowa, Kansas, Michigan, Minnesota, Missouri, North Dakota, South Dakota, Texas, Washington, and Wisconsin
- Regional offices: Located in Iowa, Michigan, and Minnesota, with national headquarters in Minneapolis
- Minnesota: The Minnesota team, co-located at national headquarters, has served the state continuously since the organization's founding in 1991 and operates across all regions of the state
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent (2024)
- Total Assets: $15,837,465
- Total Revenues: $30,342,329
- Total Expenses: $31,549,339
- Total Liabilities: $6,980,000
- Total Giving: $21,067,008
Staffing
- Employees: 77 (as of 2024)
Tax-Exempt Status
- Designated as 501(c)(3) organization
- Tax-exempt since October 1991
- EIN: 41-1694837
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $15,837,465 | $15,096,909 | $10,144,998 |
| Revenue | $30,342,329 | $29,299,227 | $9,546,912 |
| Expenses | $31,549,339 | $23,126,208 | $10,709,389 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $527,634 | $61,556 | $4,378 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
135 grants across all recorded years
Open Grants
2 open opportunities from First Children's Finance
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Roots and Wings Forest School ($5,486), Heidi's Child Care ($5,461), Genesis Olimpia Ponce ($5,441).
| Recipient | Purpose | Amount |
|---|---|---|
| BUSYBEES FAMILY CHILDCARE MONTICELLO, MN | FACILITY REVITALIZATION GRANTS | $5,014 |
| THE BLUE JAY BUDDIES DAYCARE BELVIEW, MN | FACILITY REVITALIZATION GRANTS | $5,024 |
| BELLA'S PLAYHOUSE SAUK RAPIDS, MN | FACILITY REVITALIZATION GRANTS | $5,033 |
| CLIFFORD'S CLUBHOUSE NORTH BRANCH, MN | FACILITY REVITALIZATION GRANTS | $5,039 |
| CHILDREN'S COUNTRY DAY SCHOOL MENDOTA HEIGHTS, MN | FACILITY REVITALIZATION GRANTS | $5,040 |
| HOPENS DAYCARE LAPORTE, MN | FACILITY REVITALIZATION GRANTS | $5,052 |
| GRETCHEN'S DAYCARE FAIRMONT, MN | FACILITY REVITALIZATION GRANTS | $5,063 |
| EVERGREEN MONTESSORI CRYSTAL, MN | FACILITY REVITALIZATION GRANTS | $5,065 |
| BUSY B'S CHILDCARE MAPLETON, MN | FACILITY REVITALIZATION GRANTS | $5,067 |
| PETER PAN PRESCHOOL & CHILDCARE LLC NORTH MANKATO, MN | FACILITY REVITALIZATION GRANTS | $5,077 |
Leadership & Key People
Leadership team and compensation from IRS filings
Gerald Cutts is listed as a key organizational representative.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SUZANNE HUMBERT | CHAIR | 1 | — |
| PATRICK SKILES | TREASURER | 1 | — |
| ROGER NEUGEBAURER | DIRECTOR | 1 | — |
| WALTER GILLIAM | DIRECTOR | 1 | — |
| ELIZABETH DAVIS | SECRETARY | 1 | — |
| EDITH JOHNSON | DIRECTOR | 1 | — |
| NICOLE BARCLIFF | DIRECTOR | 1 | — |
| KELLEY ELKIN | DIRECTOR | 1 | — |
| MARIA REGAN GONZALEZ | DIRECTOR | 1 | — |
| DAVID ARENS | DIRECTOR | 1 | — |
| GERALD CUTTS | PRESIDENT/CEO (FORMER) | 40 | $155,753 |
| HEIDI HAGEL-BRAID | CPO | 40 | $122,695 |
| SUZANNE PEARL | MINNESOTA DIRECTOR | 40 | $121,536 |
| BEN NICHOLIE | INTERIM CFO/COO | 40 | $110,024 |
| VANESSA GARCIA GUTIERREZ | CFO (FORMER) | 40 | $130,295 |
| CHEYENNE MCGREGOR | CHIEF ADVANCEMENT OFFICER | 1 | $32,274 |
| HEIDI SCHLUETER | IOWA REGIONAL DIRECTOR | 40 | $110,875 |
| ERICKA WARMACK | LENDING DIRECTOR | 40 | $107,496 |
Recent News & Activity
Recent developments and announcements
**2024 Mackenzie Scott Award**: First Children's Finance received a $5 million award from the Mackenzie Scott Foundation to build organizational capacity
First Children's Finance Awards $50000 Grant to Craftsbury Saplings**Vermont Expansion**: The organization announced grant recipients and upcoming funding opportunities in Vermont, with applications open for "Make Way for Kids" grants to expand child care
Make Way for Kids grants expand Vermont child care**Wadena County Success**: The Minnesota team's Rural Child Care Innovation Program contributed to creating 919 new child care slots and 317 child care jobs in Wadena County in 2020
Make Way for Kids grants expand Vermont child care**Grant Awards**: First Children's Finance awarded a $50,000 grant to Craftsbury Saplings in Vermont
Make Way for Kids grants expand Vermont child careSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does First Children's Finance fund?
First Children's Finance operates on the belief that access to affordable, high-quality child care is essential for all communities, as human capital development is the foundation of individual success and the engine of economic growth. Primary focus areas include: • **Financial Assistance**: Providing flexible, trustworthy financing to family child care providers and child care centers that may not be able to access capital elsewhere • **Technical Assistance**: Offering business-development su…
How do I apply for a grant from First Children's Finance?
First Children's Finance provides both loans and grants to child care businesses: • **Loan Activity**: In 2024, the organization's loan fund provided $2.1 million in loans to child care businesses. In 2023, the organization funded $1.46 million in loans. • **Grant Programs**: The organization administers grant programs including the "Make Way for Kids" grants, which support child care facility expansion and improvement. • **Typical Award Range**: Grant awards typically range from $5,007 to $85,…
Where does First Children's Finance make grants?
First Children's Finance operates across a multi-state region: • **Primary lending states**: Iowa, Kansas, Michigan, Minnesota, Missouri, North Dakota, South Dakota, Texas, Washington, and Wisconsin • **Regional offices**: Located in Iowa, Michigan, and Minnesota, with national headquarters in Minneapolis • **Minnesota**: The Minnesota team, co-located at national headquarters, has served the state continuously since the organization's founding in 1991 and operates across all regions of the sta…
What size grants does First Children's Finance award?
In 2024, First Children's Finance awarded 1,119 grants totaling $14.9M — an average of about $13K per grant, based on its IRS Form 990 filings.
What is First Children's Finance's EIN?
First Children's Finance's EIN (Employer Identification Number) is 41-1694837. IRS Form 990 filing data is available on this page for 2019–2024.
Explore Open Grants
Browse active grant opportunities in First Children's Finance's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
Spicola Family Foundation
MINNETONKA, MN
Assets
—
Grants
3
Total Given
$410K
Litchfield Student Anglers Club
LITCHFIELD, MN
Assets
$738
Grants
0
Total Given
—
The Geyer Family Foundation
EDINA, MN
Assets
—
Grants
7
Total Given
$35K
Love 4 One Another Charities
CHANHASSEN, MN
Assets
$8.5M
Grants
1
Total Given
$90K
Donald and Luella Zibell Family Foundation
NORTHFIELD, MN
Assets
—
Grants
8
Total Given
$80K
Minnesota Citizens Concerned
MINNEAPOLIS, MN
Assets
$745K
Grants
2
Total Given
$942K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with First Children's Finance on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching First Children's Finance to a real strategy.