NonprofitsMinnesota Business Finance Corporation

Community Improvement & Capacity Building

Minnesota Business Finance Corporation

SAINT CLOUD, MN

Total revenue

$4.3M

Total expenses

$3.5M

Net assets

$6.1M

Grants received

EIN

411846655

Tax year

2023

Mission

To promote small business & jobs

Financials

FY 2023

Revenue

Contributions & grants
Program service revenue$4.2M
Investment income$170K
Other revenue
Total revenue$4.3M

Expenses

Grants paid$86K
Salaries & benefits$2.5M
Fundraising
Other expenses$982K
Total expenses$3.5M
Total assets$7.2M
Net assets$6.1M

People

18 listed

NameRoleCompensation

THOMAS SAEHR

FORMER PRESIDENT & CEO/BOA

Board

$351K

40 hrs/wk

NADENE KRUIZE

PRESIDENT & CEO

Board

$259K

40 hrs/wk

JENNIFER FITZPATRICK

VICE PRESIDENT, LOAN PORTF

Board

$113K

40 hrs/wk

SARAH BORGMAN

CHIEF CREDIT OFFICER

Board

$102K

40 hrs/wk

MAURICE DURHEIM

CHAIRMAN

Board

$7K

1 hrs/wk

BOB PALMQUIST

TREASURER

Board

$5K

1 hrs/wk

CAROL ANDERSON

VICE CHAIR

Board

$5K

1 hrs/wk

DUSTEN JOHNSON

BOARD MEMBER

Board

$5K

1 hrs/wk

DALE UMLAUF

SECRETARY

Board

$5K

1 hrs/wk

JAMES VRCHOTA

BOARD MEMBER

Board

$4K

1 hrs/wk

NANCY HOFFMAN

BOARD MEMBER

Board

$4K

1 hrs/wk

DAN NYGAARD

BOARD MEMBER

Board

$4K

1 hrs/wk

MARK SCHIK

BOARD MEMBER

Board

$4K

1 hrs/wk

CHAD SYLTIE

BOARD MEMBER

Board

$4K

1 hrs/wk

MATTHEW DOROTHY

BOARD MEMBER

Board

$4K

1 hrs/wk

JOSEPH KAMMERMEIER

VICE PRESIDENT BUSINESS DE

Staff

$158K

40 hrs/wk

TERRY STEIN

VICE PRESIDENT BUSINESS DE

Staff

$150K

40 hrs/wk

MICHAEL STEARNS

VICE PRESIDENT BUSINESS DE

Staff

$138K

40 hrs/wk

Details

EIN411846655
NTEE codeS30
Subsection03
Ruling date1997-09
Formed1996
Employees17
Volunteers0
MINNESOTA BUSINESS FINANCE CORPORATION — Mission, Financials & Grants Received | Grantivo