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:
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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
4 open opportunities from First Children's Finance
Make Way for Kids Infant and Toddler Capacity Building Grant
FIRST CHILDREN'S FINANCE
Amount
$20,000 - $50,000+
Deadline
Rolling / Open
Minnesota Child Care Facility Revitalization Grant
FIRST CHILDREN'S FINANCE
Amount
Varies
Deadline
Rolling / Open
MN Access to Technology-Business Management Grant
FIRST CHILDREN'S FINANCE
Amount
$100 - $1,000
Deadline
April 10, 2026
Giving History
Grant recipients and amounts by year
No grants recorded for .
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
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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