EIN 41-1694837

First Children's Finance

IRS 501(c) type
Num. employees
Year formed
Most recent tax filings
First Children's Finance helps children, families, and communities thrive by increasing the availability, affordability, and quality of early care and education. They accomplish this by providing financial and business-development assistance to high-quality child care centers and family providers through loans and financial technical assistance. As a federally certified community development finance institution (CDFI), First Children's Finance supports child care facilities looking to expand or improve their facilities and programming.
Total revenues
Total expenses
Total assets
Num. employees

Program areas at First Children's Finance

Financial assistanceas a certified community development financial institution (cdfi), First Children's Finance is committed to serving the unique needs of family child care and child care centers. We provide flexible, trustworthy financing that meets the needs of child care businesses who may not be able to access capital elsewhere. All our loans are paired with technical assistance specific to child care businesses needs. We lend in Iowa, Michigan, Minnesota, Missouri, north dakota, south dakota, Texas, and wisconsin.in 2023, First Children's Finance, fcf's loan fund funded $1.46m in loans to child care businesses, contributing to their growth and success. This work has led to national recognition including receiving a mackenzie scott foundation award for $5m to build organizational capacity to support fcf in reaching its 2030 vision.
Technical assistancecomprehensive business services to child care entrepreneurs: First Children's Finance provides comprehensive business development services to child care businesses. First Children's Finance's staff provides training, one-on-one consultation to eligible child care owners and operators through all stages of the business life cycle, including start-up, crisis management, growth or expansion, and succession planning. Fcf also provides limited grant programs, in collaboration with state governments, providing non-recourse capital for child care programs to make facility improvements. Fcf's business-focused services are designed to build the capacity of child care entrepreneurs many of whom are women to create sustainable businesses that are positioned to serve low and moderate-income children.community consultation: First Children's Finance provides consultation to communities of all types to increase the supply of sustainable child care that meets families' needs for excellent care. Communities are uniquely positioned to leverage assets that impact the sustainability of existing child care businesses and to subsidize the supply of child care slots needed for a robust local economy and healthy community. Fcf provides customized consultation, training, and technical assistance to communities across the country. Child care systems programs and services: First Children's Finance partners with state and federal systems to improve the sustainability of child care businesses. Child care is an essential public good that is largely delivered outside of the public infrastructure. The current "non-system" fails to address the business and Finance needs of child care businesses. Fcf connects child care business needs with systems-level solutions. Fcf assists state, tribal, and federal agencies to plan comprehensively for policies and funding that impact the sustainability of child care businesses.in 2023, First Children's Finance facilitated 264 hours of business leadership cohorts, offering invaluable guidance to emerging leaders. Additionally, our team provided 6,903 hours of one-on-one business consultation, ensuring personalized support for entrepreneurs. Fcf also dedicated 1,437 hours to offering technical assistance to child care entrepreneurs and communities, and an additional 781 hours of loan fund technical assistance. Additionally, fcf conducted 55 community consultation projects across four states, hosted 15 states for the ece business collaboratory convening, and distributed $9,832,993.86 in facility revitalization grants in Minnesota.

Grants made by First Children's Finance

GranteeGrant descriptionAmount
United Way of the Greater Chippewa ValleyImplementation of the Community's Strategic Supply Building Plan for Their Child Care Needs.$75,000
Greater Watertown Community Health Foundation (WRMC)Implementation of the Community's Strategic Supply Building Plan for Their Child Care Needs.$75,000
Indianhead Community Action Agency (ICAA)Implementation of the Community's Strategic Supply Building Plan for Their Child Care Needs.$75,000
...and 88 more grants made totalling $2,144,127

Who funds First Children's Finance

Grants from foundations and other nonprofits
W.K. Kellogg Foundation (WKKF)Advance Innovative Solutions To Finance Early Care and Education Through Alignment Within State-Level Systems That Directly Support Child Care Businesses$200,000
Minnesota Council on FoundationsTo Support Nonprofit Intermediaries Re-Granting Public Dollars$55,000
Northwest Area FoundationAssisting Rural and Bipoc Communities and Providers Serving Low-Income Families on Their Path To Find Child Care Business Solutions$50,000
...and 3 more grants received

Personnel at First Children's Finance

Gerald CuttsPresident and Chief Executive Officer$179,090
Ben NicholieChief Operating Officer$126,325
Vanessa GarciaChief Financial Officer
Heidi Hagel-BraidChief Product Officer$136,663
Heidi Hagel BraidChief Program Officer
...and 15 more key personnel

Financials for First Children's Finance

RevenuesFYE 06/2023
Total grants, contributions, etc.$22,714,447
Program services$6,523,224
Investment income and dividends$61,556
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$29,299,227

Form 990s for First Children's Finance

Fiscal year endingDate received by IRSFormPDF link
2023-062023-11-02990View PDF
2022-062022-11-09990View PDF
2021-062022-07-11990View PDF
2020-062021-06-01990View PDF
2019-062020-08-19990View PDF
...and 9 more Form 990s

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Data update history
April 18, 2024
Updated personnel
Identified 1 new personnel
January 18, 2024
Posted financials
Added Form 990 for fiscal year 2023
January 9, 2024
Updated personnel
Identified 3 new personnel
December 28, 2023
Received grants
Identified 8 new grant, including a grant for $400,000 from David and Lucile Packard Foundation
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Human service organizationsCharities
Human services
Provides grantsNational levelReceives government fundingTax deductible donations
General information
212 Third Ave N 310
Minneapolis, MN 55401
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
Hennepin County, MN
Website URL
(612) 338-3023
Facebook page
IRS details
Fiscal year end
Taxreturn type
Form 990
Year formed
Eligible to receive tax-deductible contributions (Pub 78)
NTEE code, primary
P00: Human Services: General
NAICS code, primary
522120: Savings Institutions
Parent/child status
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