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Nonprofiteer
← SOUTHWEST INITIATIVE FOUNDATION

Form 990 for tax year 2022

Filed by SOUTHWEST INITIATIVE FOUNDATION.

Totals

Total revenue
$13,272,478
Total expenses
$10,336,099
Contributions and grants received
$10,905,312
Grants paid
$5,333,725
Program service revenue
$671,974
Investment income
$1,614,187
Other revenue
$81,005
Total assets, end of year
$108,175,659
Total liabilities, end of year
$10,601,860
Net assets or fund balances, end of year
$97,573,799
Program services expenses (Part IX)
$8,474,446
Management and general expenses
$1,211,827
Fundraising expenses
$649,826
Program service expenses (Part III)
$8,474,446

Program services were 82.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $487,679

  • 1f · All other contributions, gifts and grants

    $10,417,633

  • 1g · Noncash contributions included above

    $769,324

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $531,518 · related or exempt $531,518

  • 2b · Program service revenue: OTHER PROGRAM INCOME

    total $121,696 · related or exempt $121,696

  • 2c · Program service revenue: LOAN ADMIN FEES

    total $18,760 · related or exempt $18,760

  • 3 · Investment income

    total $2,733,989 · excluded $2,733,989

  • 6a · Gross rents

    real property $81,005

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $81,005

  • 6d · Net rental income or loss

    total $81,005 · excluded $81,005

  • 7a · Gross sales of assets other than inventory

    securities $31,556,853 · other assets $57,962

  • 7b · Less cost or other basis and sales expenses

    securities $32,687,761 · other assets $46,856

  • 7c · Gain or loss

    securities -$1,130,908 · other assets $11,106

  • 7d · Net gain or loss

    total -$1,119,802 · excluded -$1,119,802

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,080,660 · program services $5,080,660

  • 2 · Grants to domestic individuals

    total $253,065 · program services $253,065

  • 5 · Compensation of officers, directors and key employees

    total $591,496 · program services $417,757 · management and general $122,874 · fundraising $50,865

  • 7 · Other salaries and wages

    total $1,363,290 · program services $711,379 · management and general $374,154 · fundraising $277,757

  • 8 · Pension plan contributions

    total $65,642 · program services $34,038 · management and general $18,115 · fundraising $13,489

  • 9 · Other employee benefits

    total $174,040 · program services $94,892 · management and general $45,030 · fundraising $34,118

  • 10 · Payroll taxes

    total $129,017 · program services $73,839 · management and general $32,989 · fundraising $22,189

  • 11b · Fees: legal

    total $58,502 · program services $46,603 · management and general $3,032 · fundraising $8,867

  • 11c · Fees: accounting

    total $78,243 · program services $54,685 · management and general $14,655 · fundraising $8,903

  • 11f · Fees: investment management

    total $299,325 · management and general $299,325

  • 11g · Fees: other

    total $305,093 · program services $255,331 · management and general $30,921 · fundraising $18,841

  • 12 · Advertising and promotion

    total $58,714 · program services $37,095 · management and general $13,493 · fundraising $8,126

  • 13 · Office expenses

    total $128,568 · program services $66,723 · management and general $24,581 · fundraising $37,264

  • 14 · Information technology

    total $318,801 · program services $183,697 · management and general $77,943 · fundraising $57,161

  • 16 · Occupancy

    total $55,114 · program services $29,941 · management and general $15,697 · fundraising $9,476

  • 17 · Travel

    total $137,904 · program services $116,572 · management and general $6,487 · fundraising $14,845

  • 19 · Conferences, conventions and meetings

    total $91,337 · program services $66,786 · management and general $13,090 · fundraising $11,461

  • 20 · Interest

    total $55,958 · program services $41,227 · management and general $9,206 · fundraising $5,525

  • 22 · Depreciation, depletion and amortization

    total $201,269 · program services $109,423 · management and general $57,157 · fundraising $34,689

  • 23 · Insurance

    total $37,090 · program services $20,251 · management and general $10,499 · fundraising $6,340

  • 24a · Other expenses: FUNDRAISING COSTS

    total $71,549 · program services $51,813 · fundraising $19,736

  • 24b · Other expenses: PUBLIC RELATIONS

    total $38,540 · program services $28,020 · management and general $6,137 · fundraising $4,383

  • 24e · All other expenses

    total $742,882 · program services $700,649 · management and general $36,442 · fundraising $5,791

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,600 · end of year $3,600

  • 2 · Savings and temporary cash investments

    beginning of year $1,179,718 · end of year $1,516,045

  • 3 · Pledges and grants receivable

    beginning of year $3,221,626 · end of year $2,441,977

  • 7 · Other notes and loans receivable

    beginning of year $9,542,235 · end of year $9,524,791

  • 9 · Prepaid expenses and deferred charges

    beginning of year $88,959 · end of year $75,749

  • 10a · Land, buildings and equipment: cost or other basis

    $4,306,481

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,955,263

  • 10c · Land, buildings and equipment, net

    beginning of year $2,543,756 · end of year $2,351,218

  • 11 · Investments: publicly traded securities

    beginning of year $73,861,970 · end of year $82,249,621

  • 12 · Investments: other securities

    beginning of year $9,931,826 · end of year $9,937,871

  • 15 · Other assets

    beginning of year $61,659 · end of year $74,787

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,047,299 · end of year $521,517

  • 18 · Grants payable

    beginning of year $1,927,537 · end of year $2,488,217

  • 19 · Deferred revenue

    beginning of year $850,083 · end of year $714,970

  • 20 · Tax-exempt bond liabilities

    beginning of year $445,320

  • 21 · Escrow or custodial account liability

    beginning of year $1,575,410 · end of year $1,796,720

  • 23 · Secured mortgages and notes payable

    beginning of year $967,004 · end of year $1,239,321

  • 25 · Other liabilities

    beginning of year $3,975,647 · end of year $3,841,115

  • 27 · Net assets without donor restrictions

    beginning of year $28,833,220 · end of year $31,359,248

  • 28 · Net assets with donor restrictions

    beginning of year $60,813,829 · end of year $66,214,551

Mission and programs · 2022

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

OUR MISSION IS CONNECTING PEOPLE, INVESTING IN IDEAS AND BUILDING COMMUNITIES.

  • PROGRAMS (SEE SCHEDULE O).

    Expenses $4,502,767 · Grants $2,892,750

  • AFFILIATE AND COMPONENT FUNDS (SEE SCHEDULE O).

    Expenses $2,216,537 · Grants $2,159,119

  • ECONOMIC DEVELOPMENT (SEE SCHEDULE O).

    Expenses $1,755,142 · Grants $281,856 · Revenue $671,974

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Diana D Anderson

    FORMER PRESIDENT/CEO

    Total calculated
    $205,163
    From this org
    $165,457
    From related orgs
    $0
    Other
    $39,706
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,132
    Bonus
    $0
    Other
    $24,325
    Deferred
    $8,275
    Nontaxable benefits
    $31,431
    Filer's total
    $205,163

  • Scott Marquardt

    CURRENT PRESIDENT/CEO

    Total calculated
    $144,072
    From this org
    $119,457
    From related orgs
    $0
    Other
    $24,615
    Hours/week
    50

  • Margie Nelsen

    CFO

    Total calculated
    $134,792
    From this org
    $129,113
    From related orgs
    $0
    Other
    $5,679
    Hours/week
    50

  • Amy Woitalewicz

    BUSINESS FINANCE DIRECTOR

    Total calculated
    $133,862
    From this org
    $109,998
    From related orgs
    $0
    Other
    $23,864
    Hours/week
    50

  • Patricia Loehr-Dols

    CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Randy Reinke

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Mary Christine Rock

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Daniel Greve

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Terry Gaalswyk

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Tom Brakke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Abdirizak Mahboub

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Teresa Peterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Erica Volkir

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Kathy Wehking

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Benjamin Wilcox

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Theresa Zaske

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE EXECUTIVE COMMITTEE RECEIVES SOURCED DATA, INCLUDING 990'S FROM OTHER ORGANIZATIONS AND THE GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE. THIS DATA IS REFRESHED ANNUALLY, INCORPORATING A WAGE INFLATION INDICATOR PROVIDED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE. THE BOARD OVERSEES THE COMPENSATION OF THE PRESIDENT/CEO. TO ENSURE THAT WE REMAIN COMPETITIVE AMONG OUR EMPLOYEES, THE FOUNDATION CONTINUOUSLY MONITORS THE LABOR MARKET, CONDUCTING A COMPREHENSIVE MARKET REVIEW ANNUALLY, FACILITATED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE AND OVERSEEN BY THE PRESIDENT/CEO. PAY STRUCTURES (I.E., JOB VALUES) ARE EVALUATED AND ADJUSTED (AS APPROPRIATE) CONSISTENT WITH CHANGES IN THE LABOR MARKET WITHIN WHICH THE FOUNDATION COMPETES FOR TALENT AND WITH CONSIDERATION FOR OUR OVERALL BUDGET AND SUSTAINABILITY OVER TIME. INDIVIDUAL PAY ADJUSTMENTS ARE THEN MADE BASED UPON CHANGES IN THE LABOR MARKET FOR THEIR POSITION AND PERFORMANCE IN THE ROLE TO ENSURE RESULTING PAY IS COMPETITIVE AND EQUITABLE ACROSS THE FOUNDATION, PARTICULARLY FOR KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. ANNUALLY, THIS REVIEW INCORPORATES A WAGE INFLATION INDICATOR PROVIDED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SWIF REAL ESTATE HOLDINGS LLC

    MN · income $0 · assets $0

    Directly controlled by SOUTHWEST INITIATIVE FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349308692

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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