Form 990 for tax year 2024

Totals

Total revenue

$14,711,866

Total expenses

$11,406,039

Contributions and grants received

$7,273,469

Grants paid

$5,602,139

Program service revenue

$644,846

Investment income

$6,712,546

Other revenue

$81,005

Total assets, end of year

$123,441,507

Total liabilities, end of year

$9,197,950

Net assets or fund balances, end of year

$114,243,557

Program services expenses (Part IX)

$9,606,493

Management and general expenses

$1,418,556

Fundraising expenses

$380,990

Program service expenses (Part III)

$9,606,493

Program services were 84.2% 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.

Mission and programs · 2024

• SEE SCHEDULE OCOMMUNITY IMPACT: THE SOUTHWEST INITIATIVE FOUNDATION (SWIF) PROVIDES GRANTS AND PROGRAMS TO CREATE OPPORTUNITIES FOR ALL PEOPLE TO THRIVE IN OUR LOCAL COMMUNITIES. OUR GRANTMAKING, PROACTIVE PROGRAMMING AND COMMUNITY LED BELONGING ACTIVITIES HELP CREATE OPPORTUNITIES FOR ALL PEOPLE TO THRIVE IN THE COMMUNITIES THEY CALL HOME. THROUGH THESE EFFORTS, WE CAN LEAD INDIVIDUALS AND COMMUNITIES TO THRIVE.SWIF CONTINUES WORK IN GROWING LOCAL: AN EIGHT-MONTH TRAINING PROGRAM DESIGNED TO HELP UP-AND-COMING LEADERS DISCOVER AND BUILD UPON THEIR UNIQUE STRENGTHS SO THEY CAN MAKE A DIFFERENCE IN THEIR COMMUNITIES. THIS PROGRAM HELPS CULTIVATE A VITAL LEADERSHIP PIPELINE IN SOUTHWEST MINNESOTA BY SUPPORTING BOARDS, COMMISSIONS, AND COMMITTEES WITH LEADERS WHO REFLECT THE MAKEUP OF THEIR COMMUNITIES. THE INITIAL COHORT GRADUATED 14 PARTICIPANTS, AND THE SECOND COHORT GRADUATED 13.SWIF SUPPORTS WELCOMING WEEK EFFORTS ACROSS SOUTHWEST MINNESOTA, RANGING FROM 6 TO 16 COMMUNITIES. THROUGH THIS, ORGANIZATIONS AND COMMUNITIES BRING TOGETHER NEIGHBORS OF ALL BACKGROUNDS TO BUILD STRONG CONNECTIONS AND AFFIRM THE IMPORTANCE OF WELCOMING AND INCLUSIVE PLACES IN ACHIEVING COLLECTIVE PROSPERITY. SWIF PROVIDES FUNDING AND SUPPORT FOR WELCOMING WEEK CELEBRATIONS IN COMMUNITIES ACROSS OUR REGION AS A PART OF OUR MEMBERSHIP IN WELCOMING AMERICA, THE NATIONAL ORGANIZATION LEADING WELCOMING WEEK.SWIF EXPANDED THE WELCOMING AND INCLUSIVE COMMUNITIES PROJECT TO LAC QUI PARLE COUNTY. THIS PROGRAM HELPS COMMUNITY MEMBERS BUILD RELATIONSHIPS AND LEARN INCLUSIVE COMMUNITY PRACTICES WHILE GROWING THEIR LOCAL NETWORK OF "WELCOMERS" WHO ARE PASSIONATE ABOUT INCLUDING EVERYONE. COMMUNITIES APPLY TO BE PART OF THE PROJECT AND THEN PARTICIPATE IN MONTHLY COHORT MEETINGS TO SHARE TOOLS, SKILLS, AND STRATEGIES FOR WELCOMING AND INCLUSION.THE TEAM ALSO WORKS TO IMPROVE COMMUNITY WELL-BEING BY SUPPORTING YOUTH AND FAMILIES AND IMPROVING MENTAL HEALTH RESOURCES AND AWARENESS. THIS INCLUDES BEING A PARTNER IN THE SUICIDE AWARENESS CAMPAIGNS, AND CRISIS SUPPORT AND RESPONSE. SWIF ALSO SERVES THE REGIONAL NONPROFITS BY PROVIDING NONPROFIT TECHNICAL ASSISTANCE AND TRAINING TO BUILD CAPACITY AND SUPPORT THE ORGANIZATIONS' DEVELOPMENT.GRANTMAKING IS AT THE HEART OF OUR ROLE AS A COMMUNITY FOUNDATION. WE ACCEPT GRANT APPLICATIONS ON AN ONGOING BASIS AS WELL AS PROVIDING DEFINED GRANT ROUNDS THROUGHOUT THE YEAR. WE ALSO SERVE AS A PHILANTHROPIC INTERMEDIARY TO BRING ADDITIONAL GRANT DOLLARS INTO OUR REGION THROUGH PARTNER FOUNDATIONS.SWIF IS 1 OF 23 COMMUNITY FOUNDATIONS ACROSS A 10-STATE NETWORK PARTICIPATING IN A PHILANTHROPIC PREPAREDNESS, RESILIENCY, AND EMERGENCY PARTNERSHIP. WE CONTINUE TO USE THE BEST PRACTICES LEARNED THROUGH THIS NETWORK IN DISASTER RESPONSE RECOVERY WORK WITHIN OUR REGION AS NEEDS ARISE.SWIF'S PAUL AND ALMA SCHWAN AGING TRUST ENDOWMENT FUND PROMOTES PRODUCTIVE AGING IN SOUTHWEST MINNESOTA. ESTABLISHED IN 1991, THIS IS A KEY EXAMPLE OF LEGACY AND IMPACT DONORS CAN MAKE THROUGH SWIF. IT CONTINUES TO FUND AGE-FRIENDLY COMMUNITY WORK LAUNCHED IN 2016 IN PARTNERSHIP WITH THE MINNESOTA RIVER AREA AGENCY ON AGING AND THE PRAIRIE FIVE COMMUNITY ACTION. THIS FUND ALSO SUPPORTS A RESPONSIVE GRANT FUND FOR COMMUNITY PROJECTS THAT REDUCE SOCIAL ISOLATION AND LONELINESS FOR SENIOR CITIZENS IN SOUTHWEST MINNESOTA BY FOSTERING SOCIAL CONNECTIONS.

  Expenses $1,844,129 · Grants $678,631 · Revenue $644,846

• COMMUNITY FOUNDATION PROGRAM: SEE SCHEDULE O.SOUTHWEST INITIATIVE FOUNDATION'S COMMUNITY FOUNDATION PROGRAM SETS UP GEOGRAPHICALLY FOCUSED FUNDS CALLED AFFILIATE FOUNDATIONS. THESE FUNDS HELP KEEP CHARITABLE DONATIONS IN SOUTHWEST MINNESOTA AND DIRECT THEM TO LOCAL NEEDS. SINCE 1999, THE PROGRAM HAS GRANTED APPROXIMATELY $10 MILLION TO SUPPORT COMMUNITIES IN THE REGION.THE PROGRAM INCLUDES 31 AFFILIATE FOUNDATIONS. EACH IS LED BY A VOLUNTEER ADVISORY BOARD OF LOCAL RESIDENTS. THESE VOLUNTEERS DECIDE WHICH PROJECTS TO SUPPORT AND HELP CONNECT DONATIONS WITH COMMUNITY NEEDS. EXAMPLES OF FUNDED PROJECTS INCLUDE IMPROVING PARKS, FIXING SWIMMING POOLS, PROVIDING FOOD FOR CHILDREN AND FAMILIES, SUPPORTING STUDENT LEARNING ACTIVITIES, AND OTHER LOCAL PROGRAMS. BY COMBINING LOCAL LEADERSHIP WITH PROFESSIONAL SUPPORT, THE PROGRAM MAKES CHARITABLE DOLLARS GO FURTHER.SWIF HELPS AFFILIATES WITH ADMINISTRATION, FINANCES, AND INVESTMENTS. IT ALSO PROVIDES THE LEGAL AND TAX STRUCTURE NEEDED FOR COMPLIANCE AND DONOR CONFIDENCE. NEW AFFILIATES TAKE PART IN LAUNCH MEETINGS TO LEARN ABOUT THEIR RESPONSIBILITIES. ALL AFFILIATES RECEIVE ONGOING GUIDANCE IN PLANNING, FUNDRAISING, MARKETING, GOVERNANCE, AND MAKING GRANTS.THE PROGRAM MANAGES MORE THAN 120 TYPES OF FUNDS THESE INCLUDE DONOR-ADVISED FUNDS, EMPLOYEE HARDSHIP FUNDS, EDUCATION FOUNDATIONS, AGENCY ENDOWMENTS, FIELD-OF -INTEREST FUNDS, AND SCHOLARSHIP FUNDS. DONOR-ADVISED FUNDS CAN BE ENDOWED OR NON- ENDOWED. THEY LET DONORS GIVE INPUT ON HOW THESE GRANTS ARE DISBURSED WHILE SWIF HANDLES THE ADMINISTRATIVE WORK.ALL SWIF FUNDS CAN RECEIVE DONATIONS IN MANY FORMS, INCLUDING CASH, STOCKS, REAL ESTATE, FARMLAND, AND PLANNED GIFTS SUCH AS CHARITABLE GIFT ANNUITIES AND BEQUESTS. FARMLAND CAN REMAIN IN FARMING THROUGH SWIF'S "KEEP IT GROWING" PROGRAM GIVING DONORS A WAY TO SUPPORT THE COMMUNITY WHILE KEEPING LAND PRODUCTIVE.THROUGH THIS PROGRAM, SWIF CONNECTS PEOPLE WHO WANT TO GIVE WITH THE RESOURCES COMMUNITIES NEED. THE AFFILIATE STRUCTURE KEEPS CHARITABLE DOLLARS LOCAL, SUPPORTING SCHOOLS, NONPROFITS, PARKS, AND OTHER PROGRAMS. THESE EFFORTS HELP COMMUNITIES ACROSS SWIF'S 18-COUNTY SERVICE AREA GROW STRONGER AND THRIVE OVER TIME.

  Expenses $3,320,870 · Grants $2,811,844

• ECONOMIC DEVELOPMENT: SEE SCHEDULE O.SOUTHWEST INITIATIVE FOUNDATION PROVIDES FLEXIBLE AND INNOVATIVE ECONOMIC DEVELOPMENT FINANCE SOLUTIONS FOR BUSINESS RETENTION, EXPANSION, STARTUP, AND OWNERSHIP SUCCESSION PROJECTS THROUGH ITS BUSINESS FINANCE PROGRAM AND ITS MICRO ENTERPRISE LOAN PROGRAM. ITS FINANCING PROGRAMS SUPPORT PROJECTS IN THE RETAIL, SERVICE, MANUFACTURING, CHILD CARE, HOSPITALITY, AND OTHER SECTORS, WITH A SPECIAL INTEREST IN SUPPORTING PROJECTS IN FOOD AND AGRICULTURE MANUFACTURING, RENEWABLE ENERGY, AND BIOSCIENCE. IN ADDITION, THE MICRO ENTERPRISE LOAN PROGRAM PROVIDES VALUABLE TECHNICAL ASSISTANCE FOR BORROWERS IN THE AREAS OF BUSINESS MANAGEMENT AND OPERATIONS, FINANCE AND ACCOUNTING, AND MARKETING. SWIF IS ESPECIALLY INTERESTED IN OPPORTUNITIES TO SUPPORT POPULATIONS THAT HAVE BEEN HISTORICALLY UNDERINVESTED IN BY THE MARKETPLACE, INCLUDING WOMEN, BIPOC ENTREPRENEURS, VETERANS, PEOPLE WITH DISABILITIES, AND LOW-INCOME PEOPLE.SWIF ALSO OPERATES THE INITIATE PROSPERITY WEBSITE (IN PARTNERSHIP WITH NORTHERN ECONOMIC INITIATIVES CORPORATION) WWW.INITIATEPROSPERITY.ORG, WHICH PROVIDES COMPREHENSIVE TECHNICAL ASSISTANCE RESOURCES, INCLUDING INTERACTIVE TOOLS, TEMPLATES, VIDEOS, AND GUIDES.SWIF IS A LENDER FOR THE MINNESOTA EMERGING ENTREPRENEUR LOAN PROGRAM THROUGH THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT. IN ADDITION TO BEING A MICRO LENDER THROUGH THE U.S. SMALL BUSINESS ADMINISTRATION (SBA), THE RURAL MICRO ENTREPRENEUR ASSISTANCE PROGRAM LENDER THROUGH THE U.S. DEPARTMENT OF AGRICULTURE (USDA). SWIF IS ALSO A GRANTOR FOR THE MINNESOTA MAIN STREET ECONOMIC REVITALIZATION PROGRAM, IN ADDITION TO BEING A PARTNER FOR THE ELEVATE COMMUNITY BUSINESS ACADEMY AS PART OF THE RISING TIDE CAPITAL NETWORK.CHILD CARE IS THE FASTEST-GROWING ECONOMIC DEVELOPMENT ISSUE FACING OUR REGION. SWIF HAS DEVELOPED A MULTIFACETED RESPONSE FOCUSED ON FIVE ASPECTS: PROJECT INVESTMENT AND TECHNICAL ASSISTANCE, COMMUNITY PLANNING, PROFESSIONAL DEVELOPMENT, PUBLIC POLICY, AND PUBLIC RELATIONS.SWIF HAS SUPPORTED PROFESSIONAL DEVELOPMENT OF THE REGION'S ECONOMIC DEVELOPMENT PROFESSIONALS, IN ADDITION TO SPONSORING ECONOMIC DEVELOPMENT RELATED PROGRAMMING, EVENTS, AND RELATIONSHIP BUILDING OPPORTUNITIES. SWIF HAS ALSO SERVED AS A CONVENER, FACILITATOR, FUNDER, ADVOCATE, AND/OR PROGRAM ADMINISTRATOR FOR PROJECTS RELATED TO CAREER PATHWAYS AND CHILDCARE. OUR RURAL COMMUNITIES FACE UNIQUE CHALLENGES AS WELL AS OPPORTUNITIES TO COLLABORATE AROUND THESE AND OTHER ISSUES. KEY ISSUES FACING OUR REGION'S ECONOMIC DEVELOPMENT INCLUDE CHILDCARE, HOUSING, AND BROADBAND.

  Expenses $4,441,494 · Grants $2,111,664

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• ISD #466 - DASSEL-COKATO

  $342,996

  DC CHARGER ROBOTICS, INDUSTRIAL TECHNOLOGY DEPARTMENT.

• CITY OF MARSHALL

  $323,400

  MARSHALL AQUATIC CENTER PROJECT, WELCOMING WEEK EVENT.

• CITY OF TRACY

  $211,500

  TRACY CENTRAL PARK IMPROVEMENTS, TRACY COMMUNITY CENTER.

• LITTLE HUSKIES LEARNING CENTER

  $189,733

  LHLC - SECURITY SYSTEM, LHLC- REMICK LOAN SUPPORT, LHC- FACILITY RENOVATIONS.

• WALLIN EDUCATION PARTNERS

  $133,512

  2024-25 YELLOW MEDICINE EAST SCHOLARSHIPS

• CLARK-VINROOT PROPERTIES LLC

  $126,000

  THE THOMPSON - MSERP

• PIPESTONE SENIOR CITIZENS CENTER

  $116,904

  SCHROEDER SENIOR CENTER AND FOOD SHELF BUILDING PROJECT, SLEEP TIGHT PIPESTONE

• MINNESOTA RIVER AREA AGENCY ON AGING INC

  $100,500

  AGE FRIENDLY COMMUNITY BUILDING PROJECT - PHASE 7, SUPPORT COMMUNITY ENGAGEMENT IN AGING.

• ISD #2884 - RED ROCK CENTRAL

  $79,300

  PLAYGROUND EQUIPMENT, RRC WEEKEND FOOD PROGRAM, DECODABLE BOOK LIBRARY.

• FM BANK

  $75,000

  FM BANK - MSERP

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• SOUTHWEST MINNESOTA COMMUNITY CAPITAL

  501(C)(3) · MISSION DRIVEN LENDING · MN

  Directly controlled by SOUTHWEST INITIATIVE FOUNDATION

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.

Provenance

Return type

form_990

Tax year

2024

Filed

13 May 2026

IRS schema version

2024v5.5

Source object

202601359349303340

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

The source document this was parsed from is served over the API, which is where bulk and document access live.