NonprofitsFirst Childrens Finance

Human Services

First Childrens Finance

MINNEAPOLIS, MN

Total revenue

$30.3M

Total expenses

$31.5M

Net assets

$8.9M

Grants received

$6.4M

28 grants

EIN

411694837

Tax year

2023

Mission

First children's finance helps children, families and communities thrive by increasing the availability, affordability and quality of early care and education.

Programs

1 program

Technical assistancecomprehensive business services to child care entrepreneurs: first children's finance provides comprehensive business development services to child care businesses. First children's finance's staff provides training, one-on-one consultation to eligible child care owners and operators through all stages of the business life cycle, including start-up, crisis management, growth or expansion, and succession planning. Fcf also provides limited grant programs, in collaboration with state governments, providing non-recourse capital for child care programs to make facility improvements. Fcf's business-focused services are designed to build the capacity of child care entrepreneurs many of whom are women to create sustainable businesses that are positioned to serve low and moderate-income children.community consultation: first children's finance provides consultation to communities of all types to increase the supply of sustainable child care that meets families' needs for excellent care. Communities are uniquely positioned to leverage assets that impact the sustainability of existing child care businesses and to subsidize the supply of child care slots needed for a robust local economy and healthy community. Fcf provides customized consultation, training, and technical assistance to communities across the country. Child care systems programs and services: first children's finance partners with state and federal systems to improve the sustainability of child care businesses. Child care is an essential public good that is largely delivered outside of the public infrastructure. The current "non-system" fails to address the business and finance needs of child care businesses. Fcf connects child care business needs with systems-level solutions. Fcf assists state, tribal, and federal agencies to plan comprehensively for policies and funding that impact the sustainability of child care businesses.in 2024, first children's finance facilitated 1,761 hours of business leadership cohorts, offering invaluable guidance to emerging leaders. Additionally, our team provided 5,060 hours of one-on-one business consultation, ensuring personalized support for entrepreneurs. Fcf also dedicated 2,442 hours to offering technical assistance to child care entrepreneurs and communities. Additionally, fcf conducted 123 community consultation projects across four states.

Expenses: $28.1MGrants: $20.5M

Financials

FY 2023

Revenue

Contributions & grants$24.6M
Program service revenue$5.2M
Investment income$528K
Other revenue
Total revenue$30.3M

Expenses

Grants paid$21.1M
Salaries & benefits$7.5M
Fundraising$463K
Other expenses$2.9M
Total expenses$31.5M
Total assets$15.8M
Net assets$8.9M

People

18 listed

NameRoleCompensation

GERALD CUTTS

PRESIDENT/CEO (FORMER)

Board

$156K

40 hrs/wk

VANESSA GARCIA GUTIERREZ

CFO (FORMER)

Board

$130K

40 hrs/wk

HEIDI HAGEL-BRAID

CPO

Board

$123K

40 hrs/wk

SUZANNE PEARL

MINNESOTA DIRECTOR

Board

$122K

40 hrs/wk

BEN NICHOLIE

INTERIM CFO/COO

Board

$110K

40 hrs/wk

CHEYENNE MCGREGOR

CHIEF ADVANCEMENT OFFICER

Board

$32K

1 hrs/wk

MARIA REGAN GONZALEZ

DIRECTOR

Board

1 hrs/wk

SUZANNE HUMBERT

CHAIR

Board

1 hrs/wk

DAVID ARENS

DIRECTOR

Board

1 hrs/wk

PATRICK SKILES

TREASURER

Board

1 hrs/wk

ROGER NEUGEBAURER

DIRECTOR

Board

1 hrs/wk

WALTER GILLIAM

DIRECTOR

Board

1 hrs/wk

ELIZABETH DAVIS

SECRETARY

Board

1 hrs/wk

EDITH JOHNSON

DIRECTOR

Board

1 hrs/wk

NICOLE BARCLIFF

DIRECTOR

Board

1 hrs/wk

KELLEY ELKIN

DIRECTOR

Board

1 hrs/wk

HEIDI SCHLUETER

IOWA REGIONAL DIRECTOR

Staff

$111K

40 hrs/wk

ERICKA WARMACK

LENDING DIRECTOR

Staff

$107K

40 hrs/wk

Independent contractors

CDW LLC

TECHNOLOGY SERVICES

$274K

Grants received

Showing 28 of 28

FromAmountPurposeYear
$20K
PROGRAM COSTS
2023
$5M
General operating support
2022
$55K
To support nonprofit intermediaries re-granting public dollars
2022
$10K
PROGRAM AND/OR OPERATIONAL SUPPORT
2022
$200K
advance innovative solutions to finance early care and education through alignment within state-level systems that directly support child care businesses
2021
$70K
Integrated Capital Recovery Project
2021
$200K
advance innovative solutions to finance early care and education through alignment within state-level systems that directly support child care businesses
2020
$175K
HEALTHY INDIVIDUALS AND COMMUNITIES
2020
$50K
THEIR REVISED APPLICATION - CHILD CARE BUSINESS DEVELOPMENT CENTER - 424254
2020
$50K
COVID-19 GRANT
2020
$40K
CHILD CARE BUSINESS TRAINING AND COMMUNITY SUPPORT
2020
$35K
CHILD CARE SERVICES
2020
$30K
PROVIDE TECHNICAL ASSISTANCE TO CHILD CARE PROVIDERS, AND TO COMMUNITIES AND EMPLOYERS THAT RECOGNIZE THAT ACCESS TO QUALITY AFFORDABLE CHILD CARE IS A KEY STRATEGY FOR ATTRACTING AND RETAINING WORKFORCE.
2020
$25K
FOR GENERAL OPERATING SUPPORT
2020
$10K
PROGRAM WILL: 1) ASSIST BIPOC (BLACK INDIGENOUS PEOPLE OF COLOR) CHILDCARE PROVIDERS TO SHARE THEIR EXPERIENCES AND DIFFICULTIES DUE TO SYSTEMIC RACISM IN NAVIGATING BUSINESS OWNERSHIP; 2) ASSIST THEM TO ACQUIRE, AND PUT INTO PRACTICE, ADVOCACY SKILLS TO INFLUENCE PUBLIC POLICY TO ALLEVIATE THOSE SYSTEMIC DIFFICULTIES.
2020
$200K
advance innovative solutions to finance early care and education through alignment within state-level systems that directly support child care businesses
2019
$20K
PROMOTING THE AVAILABILITY OF CHILD CARE
2019
$50K
CHILD CARE BUSINESS DEVELOPMENT CENTER
2018
$30K
NW CHILDCARE BUSINESS DEVELOPMENT CTR
2018
$30K
TO SUPPORT REGIONAL STAFF TO SERVE CENTRAL MINNESOTA IN DEVELOPING STRATEGIES TO ADDRESS THE GAP IN AFFORDABLE, QUALITY CHILD CARE.
2018
$30K
QUALITY CHILD CARE PROVIDERS TRAINING IN SOUTHERN MINNESOTA
2017

Funded by

$6.4M from 18 funders · 28 grants · 2017–2024

The Chicago Community Trust

$5M · 1 grant · 2022

WK Kellogg Foundation

$600K · 3 grants · 2019–2021

Tides Foundation

$175K · 1 grant · 2020

Minnesota Council on Foundations

$125K · 2 grants · 2021–2022

The Minneapolis Foundation

$100K · 2 grants · 2018–2020

Initiative Foundation

$60K · 2 grants · 2018–2020

Opportunity Finance Network

$50K · 1 grant · 2020

Details

EIN411694837
NTEE codeP190
Subsection03
Ruling date1991-10
Formed1991
Employees77
Volunteers15
FIRST CHILDRENS FINANCE — Mission, Financials & Grants Received | Grantivo