FIRST CHILDRENS FINANCE

MINNEAPOLIS, MN | Hennepin County
Community Services

Overview

FIRST CHILDRENS FINANCE
41-1694837
111 3RD AVE S STE 220
MINNEAPOLIS, MN 55401
Hennepin County
(612) 338-3023

Mission Statement info

FIRST CHILDREN'S FINANCE HELPS CHILDREN, FAMILIES AND COMMUNITIES THRIVE BY INCREASING THE AVAILABILITY, AFFORDABILITY AND QUALITY OF EARLY CARE AND EDUCATION. WE ACCOMPLISH THIS BY PROVIDING FINANCIAL AND BUSINESS-DEVELOPMENT ASSISTANCE TO HIGH-QUALITY CARE BUSINESSES SERVING LOW- AND MODERATE-INCOME FAMILIES, AND BUILDING PARTNERSHIPS THAT CONNECT THESE VITAL BUSINESSES WITH THE RESOURCES OF THE PUBLIC AND PRIVATE SECTORS. WE BELIEVE ACCESS TO HIGH-QUALITY EARLY CARE AND EDUCATION IS ESSENTIAL FOR ALL COMMUNITIES, BECAUSE HUMAN CAPITAL DEVELOPMENT IS THE FOUNDATION OF INDIVIDUAL SUCCESS AND THE ENGINE OF REGIONAL ECONOMIC GROWTH.

Founded info
1991
Total Employees info
15
Total Volunteers info
625
CRA Category info
  • Community Services
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Nonprofit Classification (NTEE Code) info
P19

P - Human Services

Support N.E.C.

Organizations that provide all forms of support except for financial assistance or fund raising for other organizations within the Human Services - Multipurpose and Other major group area.

IRS Activity Codes info
429
Other inner city or community benefit activities
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813219
Other Grantmaking and Giving Services

CRA Alignment

CRA Category info
Community Services
Social services and other support for low- and moderate-income, homeless or at-risk individuals.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
12/9/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2010
$600,000
CDFI Financial Assistance
2009
$1,000,000
CDFI Financial Assistance
2008
$627,104
CDFI Financial Assistance
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$1.8M
Revenue
$1.8M
Assets
$4.6M
Exempt Ruling Date info
1991-10
Deductibility Status info
Deductible
Tax Filing Year info
2018
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
WI
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
111 3RD AVE S STE 220
MINNEAPOLIS, MN 55401
Hennepin County
FIPS Geocoded Address info
33460
MSA/CBSA info
27
State info
053
County info
1261.00
Tract info
Middle
Income Level info
Core-Based Statistical Area info
Minneapolis-St. Paul-Bloomington, MN-WI
Combined Statistical Area info
Minneapolis-St. Paul, MN-WI
Metropolitan Division info
Not located in an MD.
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 45.74%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
1261.00 Hennepin County
Population
Total Population 6,592 1,245,837
Total Households 3,188 508,030
Income
Median Family Income (Census*) $99,855 $78,167
Median Family Income (2019 FFIEC) $93,000 N/A
Tract Income Percentage 118.04% N/A
Below Poverty Level 18.4% 10.4%
Unemployment Level 7.7% 3.8%
Housing
Total Housing Units 3,581 533,880
Total Owner-Occupied Units 36.4% 62.4%
Total Renter-Occupied Units 52.6% 37.6%
Total Vacant Units 11.0% 4.5%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

12
Total Voting Members
in Governing Body
info
12
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Gerald Cutts
President & CEO
(612) 338-3023
Principal Officer info
Gerald Cutts
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.