Magnifi Financial Credit Union
MAGNIFI FINANCIAL CREDIT UNION IS A MEMBER OWNED FINANCIAL COOPERATIVE PROVIDING LOAN, DEPOSIT AND OTHER FINANCIAL SERVICES TO 84,983 MEMBERS.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.4B
+4.6% YoY
Annual Giving
$110K
+29.9% YoY
Grant Count
2
+100.0% YoY
Avg Grant Size
$55K
-35.1% YoY
About Magnifi Financial Credit Union
Based on IRS filings
Magnifi Financial Credit Union is a nonprofit organization, based in MELROSE, MN. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $2.4B in total assets. In 2024, it awarded 2 grants totaling $110K. Net investment income was $9.2M.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,441,846,026 | $2,335,249,765 | $2,123,114,393 |
| Revenue | $149,695,408 | $128,720,153 | $87,403,819 |
| Expenses | $141,550,968 | $108,628,019 | $72,413,903 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $9,177,075 | $7,038,396 | $4,049,846 |
| 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 2 recipients in 2024
Grant Size Distribution
11 grants across all recorded years
Open Grants
1 open opportunity from Magnifi Financial Credit Union
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Magnifi Financial Foundation ($85,271), Centracare Health Foundation ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| MAGNIFI FINANCIAL FOUNDATION MELROSE, MN | SUPPORT OF PRIVATE FOUNDATION TO FURTHER THEIR EXEMPT PURPOSE | $85,271 |
| CENTRACARE HEALTH FOUNDATION ST CLOUD, MN | SUPPORT OF PRIVATE FOUNDATION TO FURTHER THEIR EXEMPT PURPOSE | $25,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARTY MAHOWALD | VICE CHAIRPERSON | 2 | $6,460 |
| STEVE DANZL | CHAIRPERSON | 2 | — |
| MARVIN HINNENKAMP | DIRECTOR | 2 | $15,900 |
| LORI NELSON | DIRECTOR | 2 | $12,263 |
| MARK MEYER | DIRECTOR | 2 | $13,213 |
| FRED FLEISCHHACKER | TREASURER | 2 | $12,050 |
| LUKE GODZALA | SECRETARY | 2 | $9,000 |
| JAMES GONDRINGER | DIRECTOR | 2 | $10,185 |
| MICHELLE HUDAK | SUP COMMITTEE | 2 | $2,100 |
| JOSH KRUPKE | SUP COMMITTEE | 2 | $1,063 |
| JONATHAN OLMSCHEID | SUP COMMITTEE | 2 | $900 |
| CHARLES FRIEDERICHS | CHIEF EXECUTIVE OFFICER | 45 | $1,132,433 |
| NANCY ROSKE | CHIEF ADMIN OFFICER | 45 | $387,693 |
| GREG MISTERMAN | CHIEF CREDIT OFFICER | 45 | $657,753 |
| ROSS BLOOMQUIST | CHIEF EXPERIENCE OFFICER | 45 | $463,046 |
| ANDREA KRASKA | CHIEF OPERATIONS OFFICER | 45 | $345,862 |
| MATT NOSKA | CHIEF PEOPLE OFFICER | 45 | $333,395 |
| THERESA TSCHUMPERLIN | CUSO CEO | 45 | $316,328 |
| GARY MEYER | SVP RETAIL BANKING | 45 | $263,898 |
| JENN HENGEL | SVP OF PROJECT MGMT | 45 | $206,874 |
| BRAD SHAFTON | SVP OF DIGITAL AND IT | 45 | $279,753 |
| JANELLE BORGMANN | SVP FINANCE | 45 | $235,739 |
| RACHEL ENDRIZZI | SVP MARKETING | 45 | $296,573 |
| JANEL EIBENSTINER | SVP BANKING OPERATIONS | 45 | $215,572 |
| ROB SCHMITT | SVP DIGITAL BANKING | 45 | $201,649 |
| DEAN DIRKES | MARKET PRES COMM BANKING | 45 | $253,383 |
| STEPHANIE MAYERS | FINANCIAL ADVISOR | 45 | $446,525 |
| MICHAEL SCHWIETERS | FINANCIAL ADVISOR | 45 | $311,489 |
| NICHOLAS RAHRICH | MARKET PRES COMM BANKING | 45 | $227,089 |
| CHRIS STANLEY | COMMERCIAL BANKING OFFICER | 45 | $211,715 |
Frequently Asked Questions
How large is Magnifi Financial Credit Union?
As of 2024, Magnifi Financial Credit Union holds $2.4B in total assets with $149.7M in annual revenue. It awarded 2 grants totaling $110K in 2024.
Where does Magnifi Financial Credit Union operate?
Magnifi Financial Credit Union has awarded grants in Minnesota.
What size grants does Magnifi Financial Credit Union award?
In 2024, Magnifi Financial Credit Union awarded 2 grants totaling $110K — an average of about $55K per grant, based on its IRS Form 990 filings.
What is Magnifi Financial Credit Union's EIN?
Magnifi Financial Credit Union's EIN (Employer Identification Number) is 41-0705136. IRS Form 990 filing data is available on this page for 2019–2024.
Explore Open Grants
Browse active grant opportunities in Magnifi Financial Credit Union's focus areas in our free grants database
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More Funders in Minnesota
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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