SOUTHWEST INITIATIVE FOUNDATION

EIN: 411555592 501(c)(3) Community Improvement

HUTCHINSON, MN

Total Revenue
$14,711,866
Total Expenses
$11,406,039
Total Assets
$123,441,507
Net Assets
$114,243,557
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MN
Principal Officer
SCOTT MARQUARDT
Phone
3205874848
Tax Period
2024-07-01 to 2025-06-30

SOUTHWEST INITIATIVE FOUNDATION, founded in 1986, is a mid-sized nonprofit in the Community Improvement sector that reported $14.7M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.3M, a strong 22% operating margin.

Mission

OUR MISSION IS CONNECTING PEOPLE, INVESTING IN IDEAS AND BUILDING COMMUNITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,273,469
Program Service Revenue $644,846
Investment Income $6,712,546
Other Revenue $81,005
TOTAL REVENUE $14,711,866

Expense Breakdown

Grants Paid $5,602,139
Salaries & Benefits $2,411,358
Fundraising Expenses $380,990
Program Expenses $9,606,493
Other Expenses $3,392,542
TOTAL EXPENSES $11,406,039

Year-over-Year Comparison

2024 2023 Change
Revenue $14,711,866 $11,617,544 +0.3%
Expenses $11,406,039 $10,063,990 +0.1%
Net Income $3,305,827 $1,553,554 +1.1%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
25
Volunteers
300

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✓ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$313,321
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY CHRISTINE ROCK BOARD CHAIR 4.00
Officer Director
$0 $0 $0
DANIEL GREVE VICE CHAIR 4.00
Officer Director
$0 $0 $0
ERICA VOLKIR BOARD MEMBER 4.00
Director
$0 $0 $0
TERRY GAALSWYK SECRETARY 4.00
Officer Director
$0 $0 $0
THERESA ZASKE BOARD MEMBER 4.00
Director
$0 $0 $0
THOMAS BRAKKE TREASURER 4.00
Officer Director
$0 $0 $0
SCOTT MARQUARDT PRESIDENT 50.00
Officer
$142,054 $41,727 $183,781
MARGIE NELSEN CFO 50.00
Officer
$119,486 $10,054 $129,540
NANCY FASCHING VP OF COMMUNITY IMPACT 50.00
Highest
$109,241 $30,890 $140,131
MELISSA MAIERS CHIEF ADMINISTRATIVE OFFICER 50.00
Highest
$122,207 $12,668 $134,875
AMY WOITALEWICZ BUSINESS FINANCE DIRECTOR 50.00
Highest
$100,883 $40,967 $141,850
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $14,711,866 $11,406,039 $123,441,507 $3,305,827
2024 $11,617,544 $10,063,990 $114,617,884 $1,553,554
2023 $13,272,478 $10,336,099 $108,175,659 $2,936,379
2022 $19,655,047 $11,284,034 $100,435,349 $8,371,013
2021 $12,722,630 $11,832,584 $108,678,960 $890,046
2020 $10,669,977 $7,688,804 $96,104,043 $2,981,173
2019 $7,518,985 $5,314,733 $92,593,779 $2,204,252
2018 $8,819,313 $5,213,591 $90,345,337 $3,605,722
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