45
Southern Minnesota Initiative Foundation
Community Development · Owatonna, Minnesota
525 Florence Ave, Owatonna, MN 55060-4754
EIN: 363454285· Founded: Aug 1986· 40 years active· Filing Year: 2023
Annual Revenue
$5.9M
Total Expenses
$6.5M
Total Assets
$69.7M
Program Spending
3%
of expenses go to programs
Compensation & Payroll
Total Officer Compensation
$355K
5.5% of total expenses
All officers, directors, and key employees combined
Other Salaries & Wages
$1.3M
Total Payroll
$1.7M
26% of total expenses
Where the Money Goes
3%
Programs: 3%
Payroll: 26%
Other overhead: 97%
Program Revenue$184K (3%)
Total Expenses$6.5M (100%)
Payroll$1.7M (26%)
Overhead (non-program)97%
Trust Score Breakdown
Program Spending Ratio
3% of expenses go to programs
Revenue & Stability
$5.9M annual revenue
Executive Compensation
$355K total officer comp (5.5% of expenses)
Filing Recency
Most recent filing: 2023
Asset Strength
$69.7M in assets
Data from IRS Form 990 filing (2023). Trust scores are calculated from public financial data and do not constitute endorsement or investment advice.