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Nonprofits Assistance Fund

2801 21st Avenue, South
Suite 210
Minneapolis, MN 55407

Contact: Kate Barr, Executive Director
Phone: 651-278-7180
Fax: 651-278-7181
URL: www.nonprofitsassistancefund.org
Email: info@nonprofitsassistancefund.org
Nonprofits Assistance Fund

Nonprofits Assistance Fund helps nonprofits realize their visions by providing strategically essential and timely financial support that facilitates sustainability, transformation, and success. The loan fund provides financing for working capital, cash flow, and equipment and facilities projects. Since 1980, Nonprofits Assistance Fund has provided more than $61 million in loans to more than 1,700 nonprofits. Nonprofits Assistance Fund also offers strategic financial guidance and financial management training and resources to help nonprofits thrive.

Program

Transformational Lending: At Nonprofits Assistance Fund, it's more than a loan; it's a strategic financial collaboration for stabilization, transformation, and success. Loans are available for working capital, construction, debt consolidation, cash flow, and bridge lending. Loans range from $15,000 to $450,000 terms of three months to five years.

Financial Guidance: Nonprofits Assistance Fund provides support to borrowers throughout the life of the loan. Before making the loan, Nonprofits Assistance Fund provides a Financial Needs Assessment to clarify the organization's financial situation. During the course of the loan, he loan officer offers hands-on assistance to increase the financial capacity of the organization and its staff. Nonprofits Assistance Fund also offers Financial Needs Assessments and other financial management guidance to any Minnesota nonprofit.

Financial Management Training and Resources: Nonprofits Assistance Fund encourages healthy financial practices in the nonprofit community by offering regular workshops for executive directors, staff, and board members. The curriculum is specifically designed for nonprofits; topics include cash flow, budgeting, financial reporting, and understanding financial statements. The website also provides free, practical, and accessible resources and tools to help nonprofits implement stronger financial management.

Investments by institutions such as Calvert Foundation provide lending capital to Nonprofits Assistance Fund.

Client Population

Nonprofits Assistance Fund makes loans to health care providers, human services agencies, arts organizations, alternative and charter schools, and economic and community development organizations. Approximately 60 percent of borrowers specialize in serving women or ethnic minorities, including immigrants and refugees. Seventy-seven percent of clients primarily serve low- to moderate-income people and communities throughout Minnesota, and 90 percent serve urban communities.

In 2008, Nonprofits Assistance Fund served a total of 317 organizations, of which 10percent were healthcare, 10 percent human services, 20 percent arts and humanities, 29 percent educational 10 percent community development organizations, and 12 percent were affordable housing.

Impact

Since 1980, Nonprofits Assistance Fund has made more than 1,700 loans to Minnesota non-profits totaling more than $61 million. In FY 2008 94 loans were approved, totaling over $8.9 million in financing for nonprofits. Sixty-three percent of current loans are used for working capital, 33 percent for facilities, and 4 percent for equipment purchases. Additionally, Nonprofits Assistance Fund provided 622 hours of technical assistance to 223 organizations and trained 1,965 nonprofit administrators and executives. Nonprofits Assistance Fund also monitors the financial health of borrowers using financial and management indicators to track changes in the organization's financial strength and capacity.

Story

Nonprofits Assistance Fund
Metro Deal School (MDS) is the nation’s second charter school to open and the only one in the state that caters to deaf and hard of hearing elementary students. As the school continued to expand, the need to purchase its own building became clear.

“We were worried that we were too small to get a loan,” said Nan Martin, business and operations manager. “But when M&I looked at our plan, they said if we can get someone to help us with 20 percent down, they could provide us with a loan.” As a result, in January of 2007, the new school opened its bright yellow doors with a staff of 45 including 22 teachers. Now nearly 80 DHH students attend from 24 school districts across the metro area and western Wisconsin. Full Story

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