NonprofitsNortheast Entrepreneur Fund Inc

Northeast Entrepreneur Fund Inc

DULUTH, MN

Total revenue

$20.6M

Total expenses

$13.6M

Net assets

$36.1M

Grants received

$12.2M

31 grants

EIN

363566632

Tax year

2024

Mission

To advance community economic development in rural and underserved communities.

Financials

FY 2024

Revenue

Contributions & grants$16.5M
Program service revenue$3.5M
Investment income$622K
Other revenue$3K
Total revenue$20.6M

Expenses

Grants paid$553K
Salaries & benefits$4.2M
Fundraising$301K
Other expenses$8.8M
Total expenses$13.6M
Total assets$83.4M
Net assets$36.1M

People

17 listed

NameRoleCompensation

SHAWN WELLNITZ

CEO/PRESIDENT

Board

$251K

40 hrs/wk

KURT THOMPSON

COO

Board

$154K

40 hrs/wk

CARLA TICHY

DIR. OF ACCOUNTING AND COMPLIANCE

Board

$110K

40 hrs/wk

DUSTIN GOSLIN

DIRECTOR (THRU 8/31)

Board

1 hrs/wk

DAVID MANION

DIRECTOR

Board

1 hrs/wk

JIM ZASTROW

TREASURER

Board

2.5 hrs/wk

JAKE ROBINSON

DIRECTOR

Board

1 hrs/wk

DIANE WEBER

DIRECTOR

Board

1 hrs/wk

JULIE PADILLA

DIRECTOR (THRU 8/31)

Board

1 hrs/wk

TABITHA BEIBER

TREASURER (THRU 8/31)

Board

1 hrs/wk

CRYSTAL ROHDE

CHAIR

Board

1 hrs/wk

ARIK FORSMAN

VICE-CHAIR

Board

1 hrs/wk

ELIZABETH CHAPMAN

DIRECTOR

Board

1 hrs/wk

MEGAN ERICKSON KELLIN

DIRECTOR

Board

1 hrs/wk

MICHAEL LATTERY

DIR. OF BUSINESS FINANCE

Staff

$156K

40 hrs/wk

ZACHARY HOY

CREDIT MANAGER

Staff

$115K

40 hrs/wk

ROBERT SJOSTRAND JR

DIR. OF BUSINESS SERVICES

Staff

$108K

40 hrs/wk

Grants received

Showing 31 of 31

FromAmountPurposeYear
$9M
COMMUNITY & HUMAN SERVICES
2024
$9K
TO SUPPORT THE EDUCATIONAL EFFORTS OF THE ORGANIZATION
2024
$60K
The Northeast Entrepreneur Fund received the Downtown Duluth Revitalization Project grant, to assist businesses in need to help revitalize the Downtown Duluth Business district. The Entrepreneur Fund received $50,000 for grants to be given to eligible businesses ($2,500 each), and $10,000 to cover the Entrepreneur Fund's costs to perform tasks per the grant's guidelines, which entailed developing grant criteria & application forms, solicit grant applications, review & make recommendations for the grants and compliance with eligibility, submit recommendations, prepare grant agreements for eligible businesses, disburse grant funding, monitor grant compliance, and report to the 1200 Fund. Note: An $11,000 match was required from the organization Downtown Duluth.
2023
$20K
EMPOWERING THRIVING COMMUNITIES & ENTREPRENEURS, UNRESTRICTED
2023
$750K
CBFC EMERGENCY FUND
2022
$500K
OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG
2022
$250K
FINANCE JUSTICE FUND SUBGRANT
2022
$150K
OPERATING SUPPORT FOR THE ENTREPRENEUR FUND FOR CAPACITY GROWTH FOR SERVING BIPOC, WOMEN, AND RURAL ENTREPRENEURS IN RURAL MINNESOTA
2022
$15K
PUBLIC BENEFIT AND COMMUNITY IMPROVEMENT PROGRAM SUPPORT
2022
$10K
TO SUPPORT A COHORT OF THE SOAR SUCCESS CIRCLE FOR WOMEN AND THE 2023 SHELEADS EVENT.
2022
$9K
TO SUPPORT PROJECTS THAT ENHANCE OR EDUCATE MANUFACTURING COMPANIES IN THE GEOGRAPHIC REGION SERVED BY THE INITIATIVE FOUNDATION.
2022
$6K
TO SUPPORT THE MISSION OF THE ORGANIZATION.
2022
$125K
OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG
2021
$100K
CREATE THE INVESTOR NETWORK INITIATIVE TO PROVIDE SUPPORT TO REGION'S ENTREPRENEUERS.
2021
$11K
SUPPORT THE POPPLE CREEK REPAIR CNC MILL PROJECT
2021
$5K
SUPPORT THE MISSION OF THE ORGANIZATION
2021
$150K
EMERGENCY RELIEF
2020
$110K
OPERATING SUPPORT IN 2020-21 TO ENGAGE ENTREPRENEURIAL TALENT IN RURAL MINNESOTA
2020
$100K
SUPPORT FOR WORK RELATED TO A PROGRAM-RELATED INVESTMENT INTENDED TO SUPPORT SMALL BUSINESSES IN MINNESOTA
2020
$50K
LOAN CAPITAL TO SMALL BUSINESS THAT CREATE AND RETAIN JOBS IN RURAL COUNTIES OF WI AND MN
2020
$29K
SUPPORTING SMALL BUSINESSES & GOOD JOB CREATION, CAPACITY BUILDING FOR DIVERSE OWNED BUSINESSES
2020
$25K
ENVEST CAPITAL CAMPAIGN
2020
$20K
PUBLIC BENEFIT & COMMUNITY IMPROVEMENT PROGRAM SUPPORT
2020
$6K
SUPPORT THE MISSION OF THE ORGANIZATION.
2020
$250K
TO SUPPORT THIS ORGANIZATION GROW ITS SMALL BUSINESS FINANCING POOL TO ENSURE LOCAL SMALL BUSINESS OWNERS HAVE ACCESS TO CAPITAL, SUPPORT COMMUNITY REVITALIZATION, ECONOMIC MOBILITY, AND A RESILIENT REGIONAL ECONOMY.
2019
$150K
LOAN CAPITAL TO SMALL BUSINESS THAT CREATE AND RETAIN JOBS IN RURAL COUNTIES OF WI AND MN
2019
$100K
TO SUPPORT THE CENTRAL MINNESOTA WOMEN'S BUSINESS ALLIANCE.
2019
$6K
TO SUPPORT THE MISSION OF THE WOMENS BUSINESS ALLIANCE OF CENTRAL MN
2019
$5K
TO SUPPORT THE NEWLY ESTABLISHED WOMENS BUSINESS ALLIANCE OFFICE IN LITTLE FALLS, MN.
2019

Funded by

$12.2M from 13 funders · 31 grants · 2019–2024

Otto Bremer Trust

$1.3M · 4 grants · 2019–2022

Opportunity Finance Network

$875K · 3 grants · 2021–2022

Wbd Inc

$300K · 3 grants · 2019–2021

C K Blandin Foundation

$260K · 2 grants · 2020–2022

The Bush Foundation

$100K · 1 grant · 2020

Initiative Foundation

$67K · 9 grants · 2019–2024

Details

EIN363566632
Subsection03
Ruling date1988-09
Formed1989
Employees49
Volunteers19
NORTHEAST ENTREPRENEUR FUND INC — Mission, Financials & Grants Received | Grantivo