NonprofitsFortis Capital

Community Improvement & Capacity Building

Fortis Capital

MINNEAPOLIS, MN

Total revenue

$1.3M

Total expenses

$589K

Net assets

$1.5M

Grants received

$652K

18 grants

EIN

842716465

Tax year

2024

Mission

Fortis capital is engaged in economic development finance in the area of minneapolis - saint paul, minnesota, with an emphasis on providing access to capital for businesses owned by persons of color and in challenged communities.

Financials

FY 2024

Revenue

Contributions & grants$1.1M
Program service revenue$144K
Investment income$64K
Other revenue
Total revenue$1.3M

Expenses

Grants paid
Salaries & benefits$293K
Fundraising$37K
Other expenses$296K
Total expenses$589K
Total assets$4.1M
Net assets$1.5M

People

4 listed

NameRoleCompensation

BRIAN K SMITH

CHIEF EXECUTIVE OFFICER

Board

$125K

35 hrs/wk

JAMES E TERRELL

PRESIDENT & COO

Board

$125K

35 hrs/wk

SHAWN G HUCKLEBY

DIRECTOR

Board

0.25 hrs/wk

ANDREA L LARSON

DIRECTOR

Board

0.25 hrs/wk

Grants received

Showing 18 of 18

FromAmountPurposeYear
$150K
CAPACITY BUILDING SUPPORT FOR LENDING CAPITAL AND OPERATIONS
2024
$120K
GENERAL SUPPORT
2024
$100K
for general operating support
2024
$25K
ECONOMIC OPPORTUNITY - HOMETOWN
2024
$15K
UNRESTRICTED
2024
$8K
operating fund and general assistance.
2024
$5K
UNRESTRICTED
2024
$5K
UNRESTRICTED
2024
$100K
For general operating support to sustain and grow Fortis Capital's activities increasing access to financial, knowledge, and social capital for BIPOC-owned businesses and businesses in economically challenged areas of the Minneapolis-Saint Paul metro
2023
$25K
ECONOMIC OPPORTUNITY - HOMETOWN
2023
$10K
UNRESTRICTED
2023
$5K
CHARITABLE PURPOSE
2023
$5K
UNRESTRICTED
2023
$5K
UNRESTRICTED
2023
$1K
PRELIMINARY SUPPORT
2023
$15K
For general operating support in recognition of Fortis Capital's participation in GroundBreak coalition's work groups
2022

Funded by

$652K from 9 funders · 18 grants · 2022–2024

The McKnight Foundation

$215K · 3 grants · 2022–2024

The Jay And Rose Phillips Family

$151K · 2 grants · 2023–2024

Rooted Philanthropic

$120K · 1 grant · 2024

The Minneapolis Foundation

$50K · 1 grant · 2023

Target Foundation

$50K · 2 grants · 2023–2024

Mortenson Family Foundation

$45K · 6 grants · 2023–2024

Grapevine giving foundation

$8K · 1 grant · 2024

Details

EIN842716465
NTEE codeS30
Subsection03
Ruling date2020-02
Formed2019
Employees2
Volunteers2
FORTIS CAPITAL — Mission, Financials & Grants Received | Grantivo