First Children's Finance
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.
Key facts about First Children's Finance
- EIN
- 41-1694837
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $1,078,881
- Grants made (2025)
- 80
- Average grant
- $13,486
- Median grant
- $11,839
- Total assets
- $6,993,255
- Primary geography
- Minnesota (80% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Who First Children's Finance funds
By grant dollars, the top recipient states for First Children's Finance's 80 itemized 2025 grants were Minnesota (80%), Vermont (12%) and Wisconsin (9%). The most frequent recipient cities were Minneapolis, MN (10 grants), Plymouth, MN (9 grants), Saint Paul, MN (4 grants) and Lakeville, MN (2 grants). None of its 80 grants with a stated purpose were described as general or operating support. Recurring purposes include "MN Facility Revitalization Grant" (51 grants), "WI Provider Paticipant Stipend" (22 grants) and "VT Childcare Feasability Project" (6 grants).
How First Children's Finance gives
Estimate from itemized IRS Form 990-PF grant lists (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with First Children's Finance
- How to evaluate First Children's Finance as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to First Children's Finance with AI
AI grant writing that drafts from your organization’s own materials, in your voice.
- Track this opportunity in a free grant tracker
A free Google Sheets or Excel template for deadlines, award terms, and reports due.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$7.0M
-55.8% YoY
Annual Giving
$1.1M
-92.7% YoY
Grant Count
80
-92.9% YoY
Avg Grant Size
$13K
+1.6% 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
Share of all 80 itemized 2025 grant dollars.
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 | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $6,993,255 | $15,837,465 | $15,096,909 |
| Revenue | $9,273,101 | $30,342,329 | $29,299,227 |
| Expenses | $10,010,203 | $31,549,339 | $23,126,208 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $635,701 | $527,634 | $61,556 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2019–2025
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 2025
Grant Size Distribution
1,818 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 2025 grants, the largest recipients include Craftsbury Saplings ($50,000), Langlade County Economic Development Corporation ($25,870), Calumet County - Child Care Resource & Referral ($25,608).
| Recipient | Purpose | Amount |
|---|---|---|
| CRAFTSBURY SAPLINGS Craftsbury, VT | VT CHILDCARE FEASABILITY PROJECT | $50,000 |
| LANGLADE COUNTY ECONOMIC DEVELOPMENT CORPORATION East St Paul, MN | WI PROVIDER PATICIPANT STIPEND | $25,870 |
| CALUMET COUNTY - CHILD CARE RESOURCE & REFERRAL Kimberly, WI | WI PROVIDER PATICIPANT STIPEND | $25,608 |
| UNITED WAY OF SHEBOYGAN COUNTY INC St Cloud, MN | WI PROVIDER PATICIPANT STIPEND | $25,431 |
| MAUSTON SCHOOL DISTRICT Plymouth, MN | WI PROVIDER PATICIPANT STIPEND | $25,408 |
| VILLAGE OF LA FARGE Chaska, MN | WI PROVIDER PATICIPANT STIPEND | $24,431 |
| WOOD COUNTY HEALTH DEPARTMENT-WI Burnsville, MN | WI PROVIDER PATICIPANT STIPEND | $24,430 |
| UNITED WAY OF PORTAGE COUNTY Ramsey, MN | WI PROVIDER PATICIPANT STIPEND | $24,428 |
| PITTSFORD VILLAGE FARM Rutland, VT | VT CHILDCARE FEASABILITY PROJECT | $22,875 |
| KIDS COME 1ST Rochester, MN | MN FACILITY REVITALIZATION GRANT | $20,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Gerald Cutts is listed as a key organizational representative.
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Dafina Williams | Board Chair | 0.81 | — |
| Suzanne Humbert | Director | 0.81 | — |
| Patrick Skiles | Director | 0.81 | — |
| Elizabeth Davis | Director | 0.81 | — |
| Walter Gilliam | Director (Former) | 0.75 | — |
| Roger Neugebauer | Director (Former) | 0.75 | — |
| Nicole Barcliff | Director (Former) | 0.75 | — |
| Kelly Elkin | Director (Former) | 0.75 | — |
| David Arens | Director (Former) | 0.75 | — |
| Melanie Brizzi | Director (Former) | 0.75 | — |
| Alicia Butler Pierre | Director (Former) | 0.75 | — |
| Edith Johnson | Director (Former) | 0.75 | — |
| Maria Medina | Director (Former) | 0.75 | — |
| Gerald Cutts | President & CEO (Former) | 40 | $288,495 |
| Heidi Hagel-Braid | President & CEO | 32.5 | $195,221 |
| Ben Nicholie | COO | 32.5 | $190,079 |
| Michael-John Myette | Chief States Officer | 30 | $57,343 |
| Cheyenne McGregor | Chief Advancement Officer | 32.5 | $153,838 |
| Stacie Reiner | CFO | 32.5 | $56,758 |
| Ericka Warmack Austin | Lending Director | 40 | $136,452 |
| Suzanne Pearl | Minnesota Director (Former) | 30 | $152,193 |
| Heidi Schlueter | Iowa Regional Director (Former) | 30 | $146,574 |
| Jessica Beyer | Associate Director - MN (Former) | 30 | $104,615 |
| Anne McSweeney | Director of National Iniatives (Former) | 30 | $120,791 |
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 2025, First Children's Finance awarded 80 grants totaling $1.1M — 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 2019–2025.
Explore Open Grants
Browse active grant opportunities in First Children's Finance's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Think Small
Saint Paul, MN
Assets
$8.7M
Grants
135
Total Given
$8.7M
Otto Bremer Trust
St Paul, MN
Assets
—
Grants
883
Total Given
$68.5M
Minnesota Child Care Resource and
St Paul, MN
Assets
$8.4M
Grants
40
Total Given
$638K
The Minneapolis Foundation
Minneapolis, MN
Assets
$1.2B
Grants
1,565
Total Given
$121.7M
Land O'Lakes Foundation
St Paul, MN
Assets
—
Grants
868
Total Given
$5.8M
Southern Minnesota Initiative Foundation
Owatonna, MN
Assets
$75.9M
Grants
97
Total Given
$1.8M
Saint Paul & Minnesota Foundation
St Paul, MN
Assets
$1.6B
Grants
1,445
Total Given
$192.6M
Xcel Energy Foundation
Minneapolis, MN
Assets
—
Grants
1,820
Total Given
$7.7M
The Richard M Schulze Family Foundation
Minneapolis, MN
Assets
—
Grants
1,431
Total Given
$47.9M
C K Blandin Foundation
Grand Rapids, MN
Assets
—
Grants
931
Total Given
$15.8M
The McKnight Foundation
Minneapolis, MN
Assets
—
Grants
790
Total Given
$145.9M
Ohio Child Care Resource and Referral
Columbus, OH
Assets
$12.8M
Grants
5,308
Total Given
$279.7M
More Funders in Minnesota
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.