Southern Minnesota Initiative Foundation
Southern Minnesota Initiative Foundation (SMIF) is a regional development and philanthropic organization headquartered in Owatonna, Minnesota. Founded in 1986, SMIF operates as a 501(c)(3) nonprofit that fosters economic and community vitality across 20 counties in south central and southeastern Minnesota. The organization employs 22-24 staff members and provides grants, loans, programming, and technical assistance to support economic growth, early childhood development, and community vitality.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$75.9M
+8.8% YoY
Annual Giving
$1.8M
+1.0% YoY
Grant Count
97
+38.6% YoY
Avg Grant Size
$18K
-27.1% YoY
Mission & Focus Areas
SMIF's mission is to promote regional economic opportunities and collaborations with a focus on entrepreneurs and early childhood development. The organization operates through a culture of collaboration and partnership to foster economic and community vitality.
Primary focus areas include:
- Economic Development & Entrepreneurship: Supporting business start-ups and expansion, with emphasis on inclusive and equitable entrepreneurial communities
- Early Childhood Development: Providing grants, educational resources, and technical assistance to strengthen early childhood education and care services
- Community Development: Supporting local governments, nonprofit organizations, and community partnerships in regional development initiatives
Grantmaking
SMIF administers multiple grant programs:
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Geographic Focus
Where this funder awards grants
SMIF serves 20 counties in south central and southeastern Minnesota, including communities such as Owatonna, Mankato, Faribault, and surrounding areas.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2024):
- Total Assets: $75,903,981
- Total Revenues: $8,360,704
- Total Expenses: $6,906,181
- Employees: 24
Historical Financial Data (2023):
- Total Assets: $69.7M
- Total Liabilities: $8.76M
- Revenue: $5.88M
- Expenses: $6.49M
Annual Revenue (General): $22.8M
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $75,903,981 | $69,745,601 | $67,371,961 |
| Revenue | $8,360,704 | $5,876,900 | $22,164,085 |
| Expenses | $6,906,181 | $6,487,380 | $16,755,144 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,030,453 | $927,741 | $3,778,487 |
| 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
13 open opportunities from Southern Minnesota Initiative Foundation
Community Responsive Grants (Otto Bremer Trust)
SOUTHERN MINNESOTA INITIATIVE FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Early Care and Education Grant Program
SOUTHERN MINNESOTA INITIATIVE FOUNDATION
Amount
Up to US $20,000
Deadline
Rolling / Open
Early Care and Education Grants
SOUTHERN MINNESOTA INITIATIVE FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include City of Wabasha ($96,500), Church of St Anne of Le Sueur ($50,000), City of Byron ($43,567).
| Recipient | Purpose | Amount |
|---|---|---|
| ALBERT LEA AREA SCHOOLS - EARLY LEARNING ALBERT LEA, MN | EARLY CHILDHOOD SCREENING 23-24 / CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | $10,500 |
| ALDEN-CONGER PUBLIC SCHOOL DISTRICT ALDEN, MN | UPGRADING EXISTING PLAYGROUND TO BE MORE ALL INCLUSIVE | $10,000 |
| ALLIANCE FOR GREATER EQUITY OWATONNA, MN | BUSINESS RESOURCE NETWORK | $15,000 |
| AUSTIN COMMUNITY CHARITABLE FUND AUSTIN, MN | AUSTIN COMMUNITY ENTREPRENEUR AND BUSINESS OUTREACH AND SUPPORT | $10,000 |
| AUSTIN PUBLIC SCHOOLS EARLY CHILDHOOD AUSTIN, MN | SOCIAL EMOTIONAL CURRICULUM ALIGNMENT AND TRAINING | $15,000 |
| BLUE EARTH AREA SCHOOLS BLUE EARTH, MN | READERS GRANT | $15,000 |
| BULLDOG YOUTH BASEBALL ELGIN, MN | FIELD IMPROVEMENTS | $6,000 |
| BYRON PUBLIC SCHOOLS & COMMUNITY EDUCATION BYRON, MN | EARLY CHILDHOOD TOY & BOOK LIBRARY / CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | $10,000 |
| CANTON HISTORICAL SOCIETY CANTON, MN | DEPOT RESTORATION | $20,000 |
| CHILDRENS MUSEUM OF ROCHESTER INC ROCHESTER, MN | SPARK MUSEUM TO GO / CHILDRENS BOOKS DISTRIBUTED THROUGH EARLY CHILDHOOD PROGRAM LITERACY GRANTS | $10,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Key executives include:
- Timothy Penny: President & CEO
- Kelly Fluharty: Vice President of Early Childhood
- Pam Bishop: Vice President
- Alissa Oeltjenbruns: Vice President
- Marcia Haley: Senior Lending Director
- Brandi Grunzke: Lending Director
- Peggy Paul: Entrepreneurship Director
- Katie Godfrey Demmer: Communications Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TIMOTHY PENNY | PRESIDENT/CEO | 40 | $164,038 |
| BRIAN CONZEMIUS | VICE PRESIDENT/CFO | 40 | $131,445 |
| PAMELA BISHOP | VP OF ECONOMIC DEVELOPMENT | 40 | $108,156 |
| RAE JEAN HANSEN | VP OF EARLY CHILDHOOD | 40 | $115,107 |
| JAKE ANDERSON | TREASURER | 2 | — |
| CHRIS SCHAD | SECRETERY | 2 | — |
| SHAWN VOGT SWEEN | CHAIR | 2 | — |
| ERIN MEIER | VICE CHAIR | 2 | — |
| ERIN BAILEY | MEMBER AT LARGE | 2 | — |
| BOB MANN | MEMBER AT LARGE | 2 | — |
| IAN BENTS | MEMBER AT LARGE | 2 | — |
| MATT COY | MEMBER AT LARGE | 2 | — |
| BRAD HOINESS | MEMBER AT LARGE | 2 | — |
| IBRAHIM HUSSEIN | MEMBER AT LARGE | 2 | — |
| HEATHER MILLARD | MEMBER AT LARGE | 2 | — |
| ANGEL URIBE | MEMBER AT LARGE | 2 | — |
| XAVIER FRIGOLA | DIRECTOR | 2 | — |
| MATT GOLDADE | DIRECTOR | 2 | — |
| JAMILA IBRAHIM | DIRECTOR | 2 | — |
Recent News & Activity
Recent developments and announcements
**February 2026**: SMIF approved $279,800 for 22 Early Childhood projects, with individual awards ranging from $4,675 to $20,000 to organizations including Children's Museum of Southern Minnesota, Faribault Public Schools, Mankato Area Public Schools, and YWCA Mankato
SMIF awards $279,800 to support the success of young children - Southern**November 2025**: Southern Minnesota Initiative Foundation awarded $200,000 in Small Town Grants
SMIF Awards $25,000 in Grants to Support Youth Mental Health in Rural Minnesota**2023**: SMIF was actively accepting applications for the Inclusive and Equitable Communities Grant program, focusing on catalyzing initiatives that grow racial diversity, equity, and inclusion opportunities in entrepreneurship
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Southern Minnesota Initiative Foundation fund?
SMIF's mission is to promote regional economic opportunities and collaborations with a focus on entrepreneurs and early childhood development. The organization operates through a culture of collaboration and partnership to foster economic and community vitality. Primary focus areas include: • **Economic Development & Entrepreneurship**: Supporting business start-ups and expansion, with emphasis on inclusive and equitable entrepreneurial communities • **Early Childhood Development**: Providing g…
How do I apply for a grant from Southern Minnesota Initiative Foundation?
SMIF administers multiple grant programs: **Active Grant Programs:** • Child Care Start-up and Expansion Grants • Early Childhood Grants • Early Literacy Grants • Inclusive and Equitable Entrepreneurial Communities Grant • Otto Bremer Trust Community Responsive Fund Grant • PROMISE Act Grants • Economic Development Grants • Emergency Child Care Grant Program • Paint the Town Grants • Early Care and Education Grants • Main Street Economic Revitalization Program • Small Town Grants **Grant Charac…
Where does Southern Minnesota Initiative Foundation make grants?
SMIF serves 20 counties in south central and southeastern Minnesota, including communities such as Owatonna, Mankato, Faribault, and surrounding areas.
What size grants does Southern Minnesota Initiative Foundation award?
In 2024, Southern Minnesota Initiative Foundation awarded 97 grants totaling $1.8M — an average of about $18K per grant, based on its IRS Form 990 filings.
What is Southern Minnesota Initiative Foundation's EIN?
Southern Minnesota Initiative Foundation's EIN (Employer Identification Number) is 36-3454285. IRS Form 990 filing data is available on this page for 2019–2024.
Explore Open Grants
Browse active grant opportunities in Southern Minnesota Initiative Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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