Initiative Foundation
The Initiative Foundation is a 501(c)(3) public foundation headquartered in Little Falls, Minnesota, with an additional office in St. Cloud. Founded in 1986 in response to the farm crisis affecting Central Minnesota, the organization has evolved into a comprehensive community development funder serving 14 counties and 163 hometowns across the region. The Foundation operates as a hybrid organization combining grantmaking, lending, and philanthropic services to strengthen local economies and communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$114.7M
+5.2% YoY
Annual Giving
$5.5M
+53.5% YoY
Grant Count
214
+55.1% YoY
Avg Grant Size
$26K
-1.0% YoY
Mission & Focus Areas
Mission Statement: We invest in the people and places of Central Minnesota to build a thriving economy, vibrant communities and a lasting culture of generosity.
Core Values:
- Civility: Practicing listening, learning, and respect across perspectives
- Localism: Serving the region with deep local commitment
- Diversity: Advancing equity and inclusion
- Partnership: Achieving lasting change through shared vision
Strategic Focus Areas (2026-2028):
- Grow Thriving Economies
- Build Vibrant Communities
- Foster a Shared Culture of Generosity
Program Areas:
The Foundation supports work across multiple sectors including community child care solutions, economic development, nonprofit capacity building, renewable energy, and workforce development. Specific initiatives address Central Minnesota's identified challenges, including a shortage of more than 17,000 child care slots and skilled worker deficits affecting local businesses.
The child care solutions program allocated $275,000 in 2023 to partner organizations, resulting in the opening of two new child care centers and several family child care businesses, creating over 900 new child care slots. The program also provided no-cost business training and technical assistance to over 250 child care programs and specialized developmental and safety training to more than 200 early childhood professionals.
Grantmaking
The Initiative Foundation awards approximately $1 million annually in grants to eligible 501(c)(3) nonprofit organizations, government entities, and schools serving Central Minnesota residents. The Foundation provides grants to support nonprofit start-up and capacity-building projects, with funding distributed through both direct grantmaking and Foundation-hosted Partner Funds focused on specific priority areas.
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Geographic Focus
Where this funder awards grants
The Initiative Foundation serves a 14-county region in Central Minnesota: Benton, Cass, Chisago, Crow Wing, Isanti, Kanabec, Mille Lacs, Morrison, Pine, Sherburne, Stearns, Todd, Wadena, and Wright counties, plus portions of the Leech Lake and Mille Lacs Bands of Ojibwe Native nations. The service area encompasses 163 hometowns and more than 750,000 residents.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $114.7 million (2024)
Total Revenue: $15.2 million (2024)
Total Expenses: $15.7 million (2024)
Total Liabilities: $8.77 million (2024)
Total Giving: $9.989 million
Prior Year Financials (2023):
- Total Assets: $109.008 million
- Total Revenue: $10.031 million
- Total Expenses: $9.362 million
- Staff: 33 employees
The Foundation maintains a four-star rating with a 95% overall score reflecting strong performance in accountability, finance, leadership, and community culture.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $114,684,187 | $109,008,159 | $98,819,361 |
| Revenue | $15,215,240 | $10,031,903 | $18,836,412 |
| Expenses | $15,713,243 | $9,362,176 | $16,266,746 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $3,681,994 | $1,931,465 | $2,402,917 |
| 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
250 grants across all recorded years
Open Grants
22 open opportunities from Initiative Foundation
Albany Area Education Foundation Grant
INITIATIVE FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Black Oak Getty Community Foundation Grant Program
INITIATIVE FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Bluejacket Education Foundation Grant
INITIATIVE FOUNDATION
Amount
US $500 - US $2,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
President: Brian Voerding
Chief Financial Officer: Michele Miller
Vice President: Randall Olson
Grantmaking Administrator: Jessy Beto
The Foundation employs 40 staff members across its Little Falls and St. Cloud offices.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRIAN VOERDING | PRESIDENT | 40 | $165,828 |
| DON HICKMAN | VP FOR COMMUNITY & WORKFORCE (FORMER) | 40 | $148,367 |
| MICHELE MILLER | CFO | 40 | $117,848 |
| DAVID MONROY | TRUSTEE/CHAIR | 2 | — |
| KRISTI WESTBROCK | TRUSTEE/VICE CHAIR | 1 | — |
| TERI HOGGARTH | TRUSTEE/TREASURER | 1 | — |
| BRETT ANDERSON | TRUSTEE | 1 | — |
| CARRIE WILLIS | TRUSTEE | 1 | — |
| DAN WEBER | TRUSTEE | 1 | — |
| JESSICA BITZ | TRUSTEE | 1 | — |
| JOE MULFORD | TRUSTEE | 1 | — |
| JOE NAYQUONABE JR | TRUSTEE | 1 | — |
| JULIE NELSON | TRUSTEE | 1 | — |
| KIM ELLINGSON | TRUSTEE | 1 | — |
| MATEO MACKBEE | TRUSTEE | 1 | — |
| ROBBYN WACKER | TRUSTEE (FORMER) | 1 | — |
| SANTO CRUZ | TRUSTEE | 1 | — |
| TIM NELSON | TRUSTEE | 1 | — |
Recent News & Activity
Recent developments and announcements
The Foundation has announced several significant initiatives and grant distributions:
Foundation Awards $1.3 Million in \uFEFFFourth-Quarter Grants \u2014 Initiative\Partnership with Otto Bremer Trust to distribute $4.5 million
Foundation, Otto Bremer Trust Partner to Distribute $4.5 Million \u2014\$1.3 million in fourth-quarter grants awarded
Foundation Awards $1.3 Million in \uFEFFFourth-Quarter Grants \u2014 Initiative\$4.2 million grant to expand the Initiators Fellowship supporting rural Minnesota social entrepreneurs
Foundation Awards $1.3 Million in \uFEFFFourth-Quarter Grants \u2014 Initiative\$35,000 in local grants resulting from Rural Voice community conversations
Rural Voice Events Lead to $35,000 in Local Grants \u2014 Initiative FoundationThe Foundation offers ongoing nonprofit development support including grant writing workshops, leadership retreats, and sector briefings. Upcoming trainings include "Grant Writing 101," "The Leadership Reset Retreat," and "Insights & Impact: Coffee, Connection & Sector Update" scheduled for 2026.
Foundation Awards $1.3 Million in \uFEFFFourth-Quarter Grants \u2014 Initiative\Contact Information
Little Falls Office 405 First Street SE Little Falls, MN 56345 Phone: (320) 632-9255 Toll Free: (877) 632-9255
St. Cloud Office 501 West St. Germain Street, Suite 101 St. Cloud, MN 56301
Email: info@ifound.org Website: ifound.org
The Foundation operates as a hybrid workplace with staff in office on Mondays and available by appointment Tuesday through Friday.
Subject 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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