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FORTIS CAPITAL

EIN 84-2716465 MINNEAPOLIS, MN

Largest nonprofits in Minnesota

Revenue 2024
$1,335,019
Expenses 2024
$589,408

Program services were 67.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
03
NTEE code
S30
Classification
1000
Street
333 WASHINGTON AVE N STE 300

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

Mission

OUR CHARITABLE PURPOSE AND MISSION IS TO FOSTER AND SUPPORT ECONOMIC DEVELOPMENT IN CHALLENGED COMMUNITIES AND FOR DISADVANTAGED PERSONS, PRIMARILY IN THE MINNEAPOLIS - SAINT PAUL METRO AREA, IN THE STATE OF MINNESOTA.

Activities or mission (Part I)

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.

  • FORTIS CAPITAL PARTICIPATION LOAN PROGRAM:THROUGH THIS PROGRAM, THE ORGANIZATION CAN REACH BORROWERS THAT WOULD NOT QUALIFY FOR LOANS OTHERWISE. THE ORGANIZATION DOES THIS BY PURCHASING UP TO 75% PARTICIPATION IN PARTNER APPROVED LOANS. THIS STRATEGY MITIGATES RISK AND ALLOWS THE ORGANIZATION'S LENDING PARTNERS TO PROVIDE AFFORDABLE DEBT CAPITAL THAT WOULD OTHERWISE BE UNAVAILABLE TO THESE ECONOMICALLY CHALLENGED BUSINESSES. OUR ACTIVITIES CONSIST OF MAKING PARTICIPATION LOANS AND MANAGING OUR PORTFOLIO, AS WELL AS WORKING WITH OUR LOAN CAPITAL FUNDERS AND OTHER FUNDERS.

    Expenses $400,104 · Revenue $143,669

As filed on the 2024 return.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • Brian K Smith

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $132,968
    From this org
    $125,000
    From related orgs
    $0
    Other
    $7,968
    Hours/week
    35

  • James E Terrell

    PRESIDENT & COO

    Total calculated
    $141,992
    From this org
    $125,000
    From related orgs
    $0
    Other
    $16,992
    Hours/week
    35

  • Shawn G Huckleby

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Andrea L Larson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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. Earlier years are each on their own filing page.

Filings

  • 2024
    Revenue
    $1,335,019
    Expenses
    $589,408
    Contributions
    $1,127,311
    Grants paid
    $0
  • 2023
    Revenue
    $1,392,728
    Expenses
    $721,541
    Contributions
    $1,279,288
    Grants paid
    $0
  • 2022
    Revenue
    $92,915
    Expenses
    $82,602
    Contributions
    $22,718
    Grants paid
    $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $31,097
    Expenses
    $30,279
    Assets (EOY)
    $1,275,270

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all.

Form 990-N e-Postcard, tax year 2020

Tax period
1 January 2020 to 31 December 2020
Principal officer
Brian K Smith
Mailing address
1016 HYACINTH AVENUE EASTSaint Paul MN 55106

As filed, from the IRS e-Postcard file of 2 November 2026. The IRS publishes only each organization's most recent postcard, so earlier years are not shown. A 990-N carries no financial detail. The postcard also gives the principal officer's address, which is not shown here.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Listed as of 13 October 2026, under deductibility PC.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 1 November 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.