Midwest Business Finance Corporation
TO PROMOTE SMALL BUSINESS & JOBS
Key facts about Midwest Business Finance Corporation
- EIN
- 41-1846655
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $10,000
- Grants made (2025)
- 1
- Average grant
- $10,000
- Median grant
- $10,000
- Total assets
- $8,029,828
- Primary geography
- North Dakota (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$8.0M
+10.9% YoY
Annual Giving
$10K
+0.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$10K
+0.0% YoY
About Midwest Business Finance Corporation
Based on IRS filings
Midwest Business Finance Corporation is a nonprofit organization focused on Community Improvement & Capacity Building, based in ST CLOUD, MN. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $8.0M in total assets. In 2025, it awarded 1 grants totaling $10K. Net investment income was $206K.
Focus Areas
Ready to take the next step with Midwest Business Finance Corporation?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 1 itemized 2025 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $8,029,828 | $7,238,812 | $6,667,308 |
| Revenue | $4,432,392 | $4,303,425 | $4,245,343 |
| Expenses | $3,337,212 | $3,545,186 | $3,921,562 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $205,908 | $169,524 | $117,561 |
| 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 1 recipients in 2025
Grant Size Distribution
3 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include Nd Small Business Development Centers ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ND SMALL BUSINESS DEVELOPMENT CENTERS FARGO, ND | TO ASSIST ND SBDC WITH FUNDING | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DUSTEN JOHNSON | BOARD MEMBER | 1 | $4,800 |
| MATTHEW DOROTHY | BOARD MEMBER | 1 | $3,600 |
| CHAD SYLTIE | BOARD MEMBER | 1 | $3,600 |
| MARK SCHIK | BOARD MEMBER | 1 | $3,600 |
| DAN NYGAARD | VICE CHAIR | 1 | $3,900 |
| NANCY HOFFMAN | BOARD MEMBER | 1 | $3,600 |
| JAMES VRCHOTA | BOARD MEMBER | 1 | $2,700 |
| JOSHUAA LAFFEN | VICE PRESIDENT BUSINESS DE | 40 | $137,108 |
| JENNIFER FITZPATRICK | VICE PRESIDENT, LOAN PORTF | 40 | $120,591 |
| CAROL ANDERSON | CHAIRMAN | 1 | $5,400 |
| BOB PALMQUIST | TREASURER | 1 | $4,800 |
| SARAH BORGMAN | CHIEF CREDIT OFFICER | 40 | $130,779 |
| DALE UMLAUF | SECRETARY | 1 | $4,800 |
| NADENE KRUIZE | PRESIDENT & CEO | 40 | $317,546 |
| MAURICE DURHEIM | BOARD MEMBER | 1 | $6,300 |
| JOSEPH KAMMERMEIER | VICE PRESIDENT BUSINESS DE | 40 | $174,797 |
| TERRY STEIN | VICE PRESIDENT BUSINESS DE | 40 | $162,965 |
| MICHAEL STEARNS | VICE PRESIDENT BUSINESS DE | 40 | $149,923 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Midwest Business Finance Corporation?
Midwest Business Finance Corporation is a nonprofit organization focused on Community Improvement & Capacity Building, based in ST CLOUD, MN. It holds $8.0M in total assets as of 2025.
How large is Midwest Business Finance Corporation?
As of 2025, Midwest Business Finance Corporation holds $8.0M in total assets with $4.4M in annual revenue. It awarded 1 grants totaling $10K in 2025.
Where does Midwest Business Finance Corporation operate?
Midwest Business Finance Corporation has awarded grants in Minnesota, North Dakota.
What size grants does Midwest Business Finance Corporation award?
In 2025, Midwest Business Finance Corporation awarded 1 grants totaling $10K — an average of about $10K per grant, based on its IRS Form 990 filings.
What is Midwest Business Finance Corporation's EIN?
Midwest Business Finance Corporation's EIN (Employer Identification Number) is 41-1846655. IRS Form 990 filing data is available on this page for 2019–2025.
Explore Open Grants
Browse active grant opportunities in Midwest Business Finance Corporation's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.