More than $880,000 was loaned or granted out into the region from January through March through the Northwest Minnesota Foundation. This three-month timeframe comprises the third quarter of NMF’s fiscal year.
Funds released by NMF included nearly $480,000 through local philanthropic activities, such as scholarships and grants from local funds; more than $327,000 through NMF’s discretionary mission-driven grant programs; and $80,000 through loans to small business owners.
These figures bring the total disbursements for the current fiscal year to more than $2.7 million.
Also appearing in this quarter are loans approved by a new NMF subsidiary, the Northwest Minnesota Community Impact Corporation. The NMCIC was formed in January with the purpose of helping communities and individuals in underserved areas by providing financing and expertise. The NMCIC intends to build better lives by revitalizing communities, empowering individuals, and creating economic opportunities. As a community development organization, the corporation provides capital for projects that may not otherwise receive support from traditional financial institutions.
In its first quarter of operation, the NMCIC approved two loans totaling $110,941, with both businesses located in Beltrami County. These figures are in addition to the total of NMF funding pushed out into the region, as reported above.
PHILANTHROPY
(community and component funds)
Through 261 local grants and scholarships approved, $479,899 was disbursed. NMF houses around 415 funds within its family of funds, including community funds, donor-advised funds, education funds, scholarship funds, and others. Each fund has its own purpose.
Grants disbursed through these funds included:
- $275,700 through 214 scholarships.
- $58,700 through 11 grants from donor-advised funds.
- $57,812 through nine grants from community service funds.
- $26,445 through three grants from environmental funds.
- $25,042 through 10 grants from community funds.
- $20,478 through four grants from health care funds.
- $10,887 through nine grants from education funds.
- One grant for $4,834.64 through an economic development fund.
DISCRETIONARY GRANTS
Through discretionary mission-driven grants, NMF approved $327,795 in grants.
Approved grants included:
- $70,295 in training and education grants. These grants helped nonprofit organizations attend conferences, create programming, and pay consultants for a wide range of services, such as board and staff development, grant-writing, mentorship, strategic planning, language trainings, and workshops on diversity, equity and inclusion.
- $62,500 in advocacy grants to fund projects that support and promote programming around diversity, equity and inclusion:
- $20,000 to support a Special Olympics/Unified Champions Schools Program in Bemidji.
- $10,000 for 6- to 12-year-olds in Baudette to participate in the Sources of Strength program, a social-emotional learning program developed in partnership with Indigenous leaders from tribal nations in the Dakotas.
- $12,500 to help build a new Inclusive Playground in Bemidji.
- $5,000 to support a program working to advance prenatal care for Native American families in the region by providing community-centered, holistic care for Native women, children, and families. This project is based out of Bemidji.
- $10,000 to help expand a program that brings a STEM Mobile Lab to rural, underserved areas with limited access to hands-on STEM activities. This project is based out of Crookston.
- $10,000 to support an immersive community event in Thief River Falls to welcome the Nicaraguan families that have arrived in the community to assist Textron during a workforce shortage.
- $75,000 through a homelessness grant to support a program in Bemidji that will provide shuttle services for families to area shelters as needed.
- $65,000 through housing grants:
- $50,000 to fund market research and development of a region-wide workforce study that will assess the region’s housing needs, creation of an online open-source toolkit for housing developers, and potential creation of a regional housing development fund.
- $15,000 to support an Emerging Developers Initiative with a goal of increasing the knowledge and skills of new housing developers in the Northwest Minnesota region in order to increase supply of local housing and support community wealth-building.
- $20,000 to support an agency that assists children and families in tribal nations.
- $20,000 to continue NMF’s partnership in the Initiators Fellowship, which invests in social entrepreneurs to develop purpose-driven, for-profit businesses and nonprofit organizations that have a positive social or environmental impact.
- $15,000 through an innovation grant to help expand services at a Bemidji-based addiction management center.
BUSINESS LOANS AND SUPPORTS
In this time period, NMF approved 11 loans to 10 businesses throughout the region, totaling $80,000.
These loans included:
- 5 child care loans for businesses in Beltrami, Hubbard, Pennington and Polk counites.
- 3 loans for businesses in Clearwater, Beltrami, and Marshall counties through funding intended to serve and empower economically distressed and underserved communities.
- 3 SBA microloans for businesses in Beltrami and Pennington counties.
