Minnesota Business Finance Corporation
TO PROMOTE SMALL BUSINESS & JOBS
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$7.2M
+8.6% YoY
Annual Giving
$10K
+0.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$10K
+0.0% YoY
About Minnesota Business Finance Corporation
Based on IRS filings
Minnesota 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 2024. As of 2024, the organization holds $7.2M in total assets. In 2024, it awarded 1 grants totaling $10K. Net investment income was $170K.
Focus Areas
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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 | $7,238,812 | $6,667,308 | $6,710,385 |
| Revenue | $4,303,425 | $4,245,343 | $3,673,437 |
| Expenses | $3,545,186 | $3,921,562 | $3,536,673 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $169,524 | $117,561 | $8,899 |
| 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 2024
Grant Size Distribution
2 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 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 | BOARD MEMBER | 1 | $3,600 |
| NANCY HOFFMAN | BOARD MEMBER | 1 | $3,600 |
| JAMES VRCHOTA | BOARD MEMBER | 1 | $3,600 |
| JENNIFER FITZPATRICK | VICE PRESIDENT, LOAN PORTF | 40 | $113,322 |
| CAROL ANDERSON | VICE CHAIR | 1 | $4,800 |
| BOB PALMQUIST | TREASURER | 1 | $4,800 |
| SARAH BORGMAN | CHIEF CREDIT OFFICER | 40 | $101,919 |
| DALE UMLAUF | SECRETARY | 1 | $4,800 |
| THOMAS SAEHR | FORMER PRESIDENT & CEO/BOA | 40 | $351,007 |
| NADENE KRUIZE | PRESIDENT & CEO | 40 | $259,407 |
| MAURICE DURHEIM | CHAIRMAN | 1 | $7,200 |
| JOSEPH KAMMERMEIER | VICE PRESIDENT BUSINESS DE | 40 | $158,090 |
| TERRY STEIN | VICE PRESIDENT BUSINESS DE | 40 | $149,591 |
| MICHAEL STEARNS | VICE PRESIDENT BUSINESS DE | 40 | $137,757 |
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Love 4 One Another Charities
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Total Given
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Donald and Luella Zibell Family Foundation
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Assets
—
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Total Given
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Minnesota Citizens Concerned
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Assets
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Total Given
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Clearway Minnesota (sm)
MINNEAPOLIS, MN
Assets
—
Grants
6
Total Given
$442K
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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