Propel Nonprofits

Training, capacity building, and knowledge sharing: Propel Nonprofits provides ongoing training, and technical assistance on topics ranging from financial management, accounting, governance, nonprofit business models, and social enterprise. In fy23 Propel's program delivery continued to be mostly virtual as a result of covid-19. Propel presented a total of 101 trainings to 3,999 participants in fy23 and held 14 leaders circles, 2 financial leadership cohorts and a social enterprise accelerator cohort with a combined total of 120 participants. Propel, with funds appropriated by the Minnesota state legislature through the Minnesota department of employment and economic development (deed), administered the third round of the nonprofit infrastructure grant program aimed at supporting the missions of 40 small, culturally led organizations by strengthening their infrastructures. Also in fy23, Propel continued work on a new initiative, seeding cultural treasures, designed to nourish and cultivate the landscape of emerging arts and culture organizations run by and for black, indigenous, and other people of color.

Lending: as a community development financial institution (cdfi) certified by the u.s. treasury, Propel Nonprofits makes loans to nonprofit organizations to expand programs and services, bridge cash flow gaps, consolidate debt, and make capital improvements. We believe that access to capital is essential to the growth and stability of the nonprofit sector. Propel Nonprofits makes loans to Nonprofits of all sizes and stages of development, many of which have been historically under-served by traditional markets. Loans are as large as $1 million and as small as $5,000. Overall, we made 69 new loans in fy2023 totaling $13,893,010. Our lending impacted organizations working in health care, human services, arts and humanities, charter schools, community development, affordable housing, and others as well. By partnering with other capital providers, we also leveraged additional funds of $ 75.9 million into the community. Propel developed a recovery capital loan in response to the disruption in our market due to covid. This product provides financing and capacity building support to Nonprofits that serve and strengthen low income people, families, and marginalized minority communities, and revitalizes neighborhoods that have lacked investment and access to capital. These loans provide critical flexible and patient working capital loans for those recovering from the impacts of covid.

Fiscal sponsorship: Propel Nonprofits acts as a fiscal sponsor to emerging projects based in Minnesota, north dakota, south dakota, and Wisconsin that for various reasons have not yet established themselves as separate 501(c)(3) nonprofit organizations. These entities may be in the process of applying for 501(c)(3) status, may be short-term in nature or may be exploring whether becoming a separate nonprofit is the most appropriate long-term strategy to accomplish their mission. Propel Nonprofits accepts charitable grants and contributions on behalf of these projects. Propel Nonprofits in turn grants these funds to the fiscally sponsored recipients. Propel Nonprofits ultimately retains the discretion to redirect the funds to another entity if needed to satisfy the purpose of the contribution as directed by its donor. Once the funds have been granted to the fiscally sponsored client, the client has the option to hold and manage these funds on its own or enter into an arrangement with Propel Nonprofits in which Propel administers the funds on behalf of the client. Along with the fiscal management option, Propel provides extensive technical assistance on topics such as financial leadership, board governance, nonprofit business models, and strategic planning.

Strategic services and accounting and finance consulting: Propel Nonprofits provides a wide range of integrated programs and services for nonprofit organizations. Propel Nonprofits is a mutual partner that assists Nonprofits in aligning their vision, getting the nonprofit'Nonprofits's boards and leadership teams on the same page, providing tools for better organizational communication, and helping to equip Nonprofits with the tools to be more effective in reaching their mission. The tools that Propel Nonprofits offers through its strategic services program are strategic planning, organizational development, board development, and leadership transition consulting. Propel Nonprofits accounting & finance program offers accounting and financial management services along with customized technical assistance which helps organizations understand their financial situation, identify priorities, and develop a plan of action for the near and long-term future.