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
Ready to take the next step with Minnesota Business Finance Corporation?
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
Among its reported 2024 grants, the largest 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 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
Frequently Asked Questions
What is Minnesota Business Finance Corporation?
Minnesota Business Finance Corporation is a nonprofit organization focused on Community Improvement & Capacity Building, based in ST CLOUD, MN. It holds $7.2M in total assets as of 2024.
How large is Minnesota Business Finance Corporation?
As of 2024, Minnesota Business Finance Corporation holds $7.2M in total assets with $4.3M in annual revenue. It awarded 1 grants totaling $10K in 2024.
Where does Minnesota Business Finance Corporation operate?
Minnesota Business Finance Corporation has awarded grants in Minnesota, North Dakota.
What size grants does Minnesota Business Finance Corporation award?
In 2024, Minnesota Business Finance Corporation awarded 1 grants totaling $10K — an average of about $10K per grant, based on its IRS Form 990 filings.
What is Minnesota Business Finance Corporation's EIN?
Minnesota Business Finance Corporation's EIN (Employer Identification Number) is 41-1846655. IRS Form 990 filing data is available on this page for 2019–2024.
Explore Open Grants
Browse active grant opportunities in Minnesota Business Finance Corporation's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
Spicola Family Foundation
MINNETONKA, MN
Assets
—
Grants
3
Total Given
$410K
Litchfield Student Anglers Club
LITCHFIELD, MN
Assets
$738
Grants
0
Total Given
—
The Geyer Family Foundation
EDINA, MN
Assets
—
Grants
7
Total Given
$35K
Love 4 One Another Charities
CHANHASSEN, MN
Assets
$8.5M
Grants
1
Total Given
$90K
Donald and Luella Zibell Family Foundation
NORTHFIELD, MN
Assets
—
Grants
8
Total Given
$80K
Minnesota Citizens Concerned
MINNEAPOLIS, MN
Assets
$745K
Grants
2
Total Given
$942K
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with Minnesota Business Finance Corporation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Minnesota Business Finance Corporation to a real strategy.