Program areas at Entrepreneur Fund
The Northeast Entrepreneur Fund (ef) provides small business services and loans to business owners and aspiring entrepreneurs in its 17 county service area of Minnesota and Wisconsin. In 2022, total program costs of $5,711,590 was expensed to provide services to 1,617 entrepreneurs. 327 loans were disbursed to those clients to start, stabilize or expand their businesses. A total of $24.5 millions in loans were approved. A majority of those were disbursed to low-income individuals or in low-income communities. Ef targets and serves underserved and disadvantaged business owners and communities with specialized services for women-owned business. The organizational expenses, non-program related were a total of $1,476,299 for fundraising, management and general costs to support the mission and future of the organization.
Who funds Entrepreneur Fund
Grants from foundations and other nonprofits
Personnel at Entrepreneur Fund
| Name | Title | Compensation | Date of data |
|---|
| Shawn Wellnitz | President and Chief Executive Officer / Chief Executive Officer / President | $252,778 | 2022-12-31 |
| Kristine Barnes | Chief Financial Officer / Financial Consultant | | 2022-01-23 |
| Janie Moore | Director of Development and Communications | | 2022-01-23 |
| Andrea Black | Director of Business Services | | 2022-01-23 |
| Michael Lattery | Director of Business Finance / Director of Business Financing | $146,295 | 2022-12-31 |
| ...and 16 more key personnel |
Financials for Entrepreneur Fund
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $10,144,224 | $8,000,288 | 26.8% |
| Program services | $2,886,123 | $3,412,548 | -15.4% |
| Investment income and dividends | $7,410 | $38,574 | -80.8% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $8,001 | $2,795 | 186.3% |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $13,045,758 | $11,454,205 | 13.9% |
Organizations like Entrepreneur Fund
| Organization | Type | Location | Revenue |
|---|
| Access To Capital for Entrepreneurs | 501(c)(3) | Cleveland, GA | $13,820,713 |
| Bridgeway Capital | 501(c)(3) | Pittsburgh, PA | $11,446,748 |
| Dreamspring | 501(c)(3) | Albuquerque, NM | $25,867,927 |
| Mountain Bizworks | 501(c)(3) | Asheville, NC | $6,124,699 |
| Nebraska Enterprise Fund | 501(c)(3) | Oakland, NE | $5,303,898 |
| Pathway Lending | 501(c)(3) | Nashville, TN | $34,352,914 |
| Accessity | 501(c)(3) | San Diego, CA | $5,295,637 |
| TruFund Financial services | 501(c)(3) | New York, NY | $16,024,804 |
| Ascendus | 501(c)(3) | New York, NY | $13,403,959 |
| Northern Economic Initiatives Corporation | 501(c)(3) | Marquette, MI | $3,668,012 |
Data update history
January 1, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 25, 2023
Used new vendors
Identified 1 new vendor, including
November 27, 2023
Received grants
Identified 3 new grant, including a grant for $750,000 from Otto Bremer Trust (OBT) July 23, 2023
Received grants
Identified 10 new grant, including a grant for $110,000 from Blandin Foundation July 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Business and community development organizationsCommunity Development Financial InstitutionsCharities
Issues
Business and industry
Characteristics
LobbyingState / local levelReceives government fundingTax deductible donations
General information
- Address
- 202 W Superior St 311
- Duluth, MN 55802
- Metro area
- Duluth, MN-WI
- County
- St. Louis County, MN
- Website URL
- entrepreneurfund.org/Â
- Phone
- (218) 623-5747
IRS details
- EIN
- 36-3566632
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1989
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Independent
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