Propel Nonprofits
- Assets
- $49.9m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 39
- Location
- Minneapolis, MN
- Founding
- 09/2017
- Data as of
- 03/2024
- EIN
- 41-1916337
Organization Overview
Propel Nonprofits is located in Minneapolis, MN. The organization was established in 2017. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2024, Propel Nonprofits employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Propel Nonprofits is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2024, Propel Nonprofits generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $10.2m during the year ending 03/2024. While expenses have increased by 20.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Propel Nonprofits has awarded 676 individual grants totaling $32,956,394. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO FUEL THE IMPACT AND EFFECTIVENESS OF NONPROFITS WITH GUIDANCE, EXPERTISE, AND CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPACITY BUILDING INITIATIVES:PROPEL NONPROFITS INTERMEDIARY CAPACITY BUILDING INITIATIVES AIM TO PROVIDE FUNDING AND RELEVANT INFRASTRUCTURE TO SUPPORT MINNESOTA NONPROFITS. IN FY24, THERE WERE FOUR ACTIVE INITIATIVES: SEEDING CULTURAL TREASURES, NONPROFIT INFRASTRUCTURE GRANT PROGRAM (NIGP), CBI TARGET, AND ROOTED TO LAST.IN FY24, PROPEL AWARDED $3.2 MILLION TO 56 CULTURALLY LED NONPROFIT ORGANIZATIONS FOR INFRASTRUCTURE FUNDING THROUGH NIGP. THE 2023 - 2025 ROUND OF NIGP FUNDING IS MADE POSSIBLE THROUGH A $4 MILLION APPROPRIATION COMING THROUGH THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED)ALSO IN FY24, PROPEL CONTINUED WORK ON THE SEEDING CULTURAL TREASURES INITIATIVE 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 71 NEW LOANS IN FY2024 TOTALING $15,835,184. OUR LENDING IMPACTED NONPROFIT ORGANIZATIONS WORKING IN HEALTH CARE, HUMAN SERVICES, ARTS AND HUMANITIES, CHARTER SCHOOLS, COMMUNITY DEVELOPMENT, AFFORDABLE HOUSING, AND MORE. BY PARTNERING WITH OTHER CAPITAL PROVIDERS, WE ALSO LEVERAGED ADDITIONAL FUNDS OF $17.1 MILLION INTO THE COMMUNITY.
FISCAL SPONSORSHIP:PROPEL NONPROFITS FISCAL SPONSORSHIP PROGRAM SUPPORTS EMERGING NONPROFIT ORGANIZATIONS AND PROJECTS THAT ADVANCE CHARITABLE CAUSES AND UPLIFT THEIR COMMUNITIES. WE PROVIDE RESOURCES, CONSULTING, TECHNICAL ASSISTANCE, AND THE ABILITY TO ACCEPT DONATIONS TO OUR FISCALLY SPONSORED PARTNERS, ESPECIALLY THOSE FROM HISTORICALLY EXCLUDED GROUPS.-53 FISCALLY SPONSORED PROJECTS IN FY24-$1,499,695 RAISED BY/FOR CLIENTS IN FY24-72% BIPOC-LED-11% GREATER MINNESOTA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Barr President And CEO | Officer | 40 | $199,825 |
Ellie O'brien Vice President & CFO | Officer | 40 | $123,554 |
Garrett Backes Chief Advancement Officer | Officer | 40 | $108,280 |
Mario Hernandez Director Of Strategic Services | 40 | $107,255 | |
Jonathan Brown Chief Program Officer | Officer | 40 | $99,049 |
Henry Jimenez President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,239,660 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,120,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,360,624 |
| Total Program Service Revenue | $2,759,548 |
| Investment income | $515,028 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,635,201 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,957,470 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $721,342 |
| Compensation of current officers, directors, key employees. | $330,280 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,228,832 |
| Pension plan accruals and contributions | $111,442 |
| Other employee benefits | $356,858 |
| Payroll taxes | $232,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,964 |
| Fees for services: Accounting | $30,001 |
| Fees for services: Lobbying | $23,333 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $898,274 |
| Advertising and promotion | $21,958 |
| Office expenses | $96,724 |
| Information technology | $262,374 |
| Royalties | $0 |
| Occupancy | $320,927 |
| Travel | $27,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,678 |
| Interest | $619,864 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,188,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,538,508 |
| Savings and temporary cash investments | $10,856,954 |
| Pledges and grants receivable | $1,158,956 |
| Accounts receivable, net | $571,609 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,434,884 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $139,435 |
| Net Land, buildings, and equipment | $393,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $838,088 |
| Total assets | $49,931,879 |
| Accounts payable and accrued expenses | $840,326 |
| Grants payable | $0 |
| Deferred revenue | $4,999,207 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $343,235 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $25,369,798 |
| Other liabilities | $1,705,793 |
| Total liabilities | $33,258,359 |
| Net assets without donor restrictions | $14,121,716 |
| Net assets with donor restrictions | $2,551,804 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,931,879 |
Grants Awarded
Over the last fiscal year, Propel Nonprofits has awarded $3,897,159 in support to 93 organizations.
| Grant Recipient | Amount |
|---|---|
826 MSP PURPOSE: NONPROFIT INFRASTRUCTURE GRANT PROGRAM | $16,465 |
AANJICHIGENG PURPOSE: FISCAL SPONSORSHIP, SEEDING CULTURAL TREASURES, EMERGING NONPROFITS | $105,125 |
AFRICAN AMERICAN REGISTRY PURPOSE: SEEDING CULTURAL TREASURES | $22,000 |
ALLIANCE OF CHICANOS HISPANICS AND LATIN AMERICANS PURPOSE: NONPROFIT INFRASTRUCTURE GRANT PROGRAM | $8,948 |
ALLIANCE OF EARLY CHILDHOOD PROFESSIONALS PURPOSE: NONPROFIT INFRASTRUCTURE GRANT PROGRAM | $40,392 |
BASIC NEEDS PURPOSE: NONPROFIT INFRASTRUCTURE GRANT PROGRAM | $17,739 |