FIRST CHILDREN'S FINANCE

EIN: 411694837 501(c)(3) Human Services

MINNEAPOLIS, MN

Total Revenue
$9,273,101
Total Expenses
$10,010,203
Total Assets
$6,993,255
Net Assets
$2,634,581
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
MN
Principal Officer
HEIDI HAGEL-BRAID
Phone
6123383023
Tax Period
2024-07-01 to 2025-06-30

FIRST CHILDREN'S FINANCE, founded in 1991, is a community nonprofit in the Human Services sector that reported $9.3M in total revenue in fiscal year 2024. Revenue fell 69% from the prior year — a significant decline worth monitoring.

Mission

FIRST CHILDREN'S FINANCE (FCF) GROWS THE SUPPLY AND SUSTAINABILITY OF HIGH-QUALITY CHILD CARE BY STRENGTHENING THE BUSINESS AND FINANCIAL FOUNDATIONS OF THE SECTOR. FOUNDED IN 1991, FCF IS A NATIONAL NONPROFIT HEADQUARTERED IN MINNEAPOLIS, MINNESOTA, WITH STATE OFFICES IN MICHIGAN, MINNESOTA, IOWA, OREGON, AND VERMONT. FCF PROVIDES FINANCING, BUSINESS TRAINING, AND CONSULTING TO CHILD CARE ENTREPRENEURS, WHILE PARTNERING WITH PUBLIC, PRIVATE, AND TRIBAL STAKEHOLDERS TO ADVANCE POLICIES AND FUNDING STRATEGIES THAT CREATE SUSTAINABLE CHILD CARE SYSTEMS.

Program Service Accomplishments

Program 1
Expenses: $890,149 Revenue: $239,504

FINANCIAL ASSISTANCE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) LOAN FUNDAS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), FIRST CHILDREN'S FINANCE (FCF) PROVIDES FLEXIBLE...

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FINANCIAL ASSISTANCE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) LOAN FUNDAS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), FIRST CHILDREN'S FINANCE (FCF) PROVIDES FLEXIBLE, MISSION-DRIVEN CAPITAL TO CHILD CARE BUSINESSES THAT OFTEN FACE BARRIERS TO TRADITIONAL FINANCING. OUR LENDING PROGRAM STRENGTHENS THE BUSINESS FOUNDATION OF CHILD CARE PROVIDERS SERVING LOW- AND MODERATE-INCOME FAMILIES, HELPING THEM GROW, STABILIZE, AND SUSTAIN HIGH-QUALITY EARLY CARE AND EDUCATION.FCF IS THE ONLY CDFI IN THE NATION EXCLUSIVELY FOCUSED ON CHILD CARE, COMBINING FINANCIAL EXPERTISE WITH DEEP, SECTOR-SPECIFIC KNOWLEDGE. EVERY LOAN IS PAIRED WITH TAILORED TECHNICAL ASSISTANCE THAT BUILDS THE BORROWER'S CAPACITY IN BUSINESS PLANNING, CASH FLOW MANAGEMENT, AND LONG-TERM SUSTAINABILITY. THIS INTEGRATED APPROACH ENSURES THAT EACH INVESTMENT STRENGTHENS BOTH THE INDIVIDUAL BUSINESS AND THE BROADER CHILD CARE ECOSYSTEM.THE FCF LOAN FUND OPERATES ACROSS TEN STATESIOWA, MICHIGAN, MINNESOTA, MISSOURI, NORTH DAKOTA, SOUTH DAKOTA, OREGON, TEXAS, VERMONT, AND WISCONSINSUPPORTING FAMILY CHILD CARE HOMES AND CENTERS IN BOTH RURAL AND URBAN COMMUNITIES. IN FY2025, THE LOAN FUND ORIGINATED 41 LOANS TOTALING $1.6 MILLION, DIRECTLY SUPPORTING 14 FAMILY CHILD CARE PROVIDERS AND 27 CENTERS. THESE INVESTMENTS HELPED CREATE OR PRESERVE 1,830 CHILD CARE SPACES AND 406 JOBS, EXPANDING ACCESS TO QUALITY CARE WHERE IT IS MOST NEEDED.SINCE ITS INCEPTION, THE LOAN FUND HAS ORIGINATED 795 LOANS TOTALING MORE THAN $20 MILLION, RESULTING IN THE CREATION OR RETENTION OF 26,226 CHILD CARE SLOTS AND 4,296 JOBS NATIONWIDE. BEYOND FINANCING, EACH BORROWER BENEFITS FROM INDIVIDUALIZED COACHING AND ACCESS TO BUSINESS SUPPORT SERVICES, ENSURING THAT THE IMPACT OF EVERY DOLLAR EXTENDS WELL BEYOND A SINGLE LOANBUILDING LASTING STABILITY AND GROWTH IN THE CHILD CARE SECTOR.

Program 2
Expenses: $6,733,417 Revenue: $2,110,590

1. BUSINESS SUPPORT FOR CHILD CARE ENTREPRENEURSFCF PROVIDES TAILORED BUSINESS DEVELOPMENT SERVICES TO CHILD CARE ENTREPRENEURS AT EVERY STAGESTART-UP, STABILIZATION, GROWTH, AND SUCCESSION. OUR...

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1. BUSINESS SUPPORT FOR CHILD CARE ENTREPRENEURSFCF PROVIDES TAILORED BUSINESS DEVELOPMENT SERVICES TO CHILD CARE ENTREPRENEURS AT EVERY STAGESTART-UP, STABILIZATION, GROWTH, AND SUCCESSION. OUR STAFF DELIVER ONE-ON-ONE CONSULTING, GROUP TRAINING, AND ACCESS TO FINANCING AND BUSINESS TOOLS THAT IMPROVE SUSTAINABILITY AND QUALITY. IN FY2025, FCF SUPPORTED 3,367 CHILD CARE BUSINESSES, OFFERING 254 TRAININGS AND 53 COHORT-BASED PROGRAMS ACROSS MULTIPLE STATES. IN IOWA, 77 BUSINESS OWNERS COMPLETED OUR BUSINESS & FINANCIAL FUNDAMENTALS SERIES, WITH 84% REPORTING MEASURABLE IMPROVEMENT IN FINANCIAL AND MANAGEMENT PRACTICES. THESE EFFORTS STRENGTHEN SMALL BUSINESSES SERVING LOW- AND MODERATE-INCOME FAMILIES.2. BUILDING LOCAL CHILD CARE CAPACITYFCF PARTNERS WITH COMMUNITIES TO INCREASE THE SUPPLY AND STABILITY OF CHILD CARE THAT MEETS LOCAL WORKFORCE AND FAMILY NEEDS. THROUGH DATA-DRIVEN CONSULTATION, FINANCIAL MODELING, AND STRATEGIC PLANNING, FCF SUPPORTED 122 COMMUNITIES NATIONWIDE IN FY2025. OUR RURAL CHILD CARE INNOVATION PROGRAM AND RELATED INITIATIVES HELPED MORE THAN 45 COMMUNITIES CONDUCT SUPPLY-AND-DEMAND ANALYSES, IDENTIFY BARRIERS, AND IMPLEMENT LOCAL SOLUTIONSTURNING CHILD CARE DESERTS INTO SUSTAINABLE SYSTEMS. THIS WORK DIRECTLY CONTRIBUTED TO THE CREATION OR PRESERVATION OF 5,743 CHILD CARE SLOTS ACROSS INFANT, TODDLER, PRESCHOOL, AND SCHOOL-AGE PROGRAMS.3. STRENGTHENING THE CHILD CARE INFRASTRUCTUREFCF COLLABORATES WITH STATE, TRIBAL, AND FEDERAL PARTNERS TO DESIGN AND IMPLEMENT POLICIES AND FUNDING STRATEGIES THAT IMPROVE THE LONG-TERM VIABILITY OF CHILD CARE BUSINESSES. IN FY2025, WE WORKED WITH 11 STATE OR SYSTEM PARTNERS AND MORE THAN A DOZEN TRIBAL NATIONS TO CONDUCT COST-OF-CARE STUDIES, ADVISE ON ARPA FUNDING, AND DEVELOP ACTIONABLE BUSINESS AND SUSTAINABILITY PLANS. FCF CONVENED THE FIRST TRIBAL NATIONS EARLY CHILDHOOD BUSINESS COLLABORATORY, BRINGING TOGETHER 10 TRIBAL NATIONS TO MAP CHILD CARE ECOSYSTEMS AND SET PRIORITIES FOR INVESTMENT.

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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 $6,286,971
Program Service Revenue $2,350,094
Investment Income $635,701
Other Revenue $335
TOTAL REVENUE $9,273,101

Expense Breakdown

Grants Paid $1,569,357
Salaries & Benefits $6,195,396
Fundraising Expenses $396,178
Program Expenses $7,623,566
Other Expenses $2,245,450
TOTAL EXPENSES $10,010,203

Year-over-Year Comparison

2024 2023 Change
Revenue $9,273,101 $30,342,329 -0.7%
Expenses $10,010,203 $31,549,339 -0.7%
Net Income $-737,102 $-1,207,010 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
4
Independent Members
4
Employees
99
Volunteers
18

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
7
$987,104
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAFINA WILLIAMS BOARD CHAIR 0.81
Officer Director
$0 $0 $0
SUZANNE HUMBERT DIRECTOR 0.81
Director
$0 $0 $0
PATRICK SKILES DIRECTOR 0.81
Director
$0 $0 $0
ELIZABETH DAVIS DIRECTOR 0.81
Director
$0 $0 $0
WALTER GILLIAM DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
ROGER NEUGEBAUER DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
NICOLE BARCLIFF DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
KELLY ELKIN DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
DAVID ARENS DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
MELANIE BRIZZI DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
ALICIA BUTLER PIERRE DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
EDITH JOHNSON DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
MARIA MEDINA DIRECTOR (FORMER) 0.75
Director
$0 $0 $0
GERALD CUTTS PRESIDENT & CEO (FORMER) 40.00
Officer
$288,495 $0 $288,495
HEIDI HAGEL-BRAID PRESIDENT & CEO 32.50
Officer
$195,221 $12,641 $207,862
BEN NICHOLIE COO 32.50
Officer
$190,079 $16,353 $206,432
MICHAEL-JOHN MYETTE CHIEF STATES OFFICER 30.00
Officer
$57,343 $8,307 $65,650
CHEYENNE MCGREGOR CHIEF ADVANCEMENT OFFICER 32.50
Officer
$153,838 $0 $153,838
STACIE REINER CFO 32.50
Officer
$56,758 $8,069 $64,827
ERICKA WARMACK AUSTIN LENDING DIRECTOR 40.00
Highest
$136,452 $14,813 $151,265
SUZANNE PEARL MINNESOTA DIRECTOR (FORMER) 30.00
Highest
$152,193 $7,580 $159,773
HEIDI SCHLUETER IOWA REGIONAL DIRECTOR (FORMER) 30.00
Highest
$146,574 $5,384 $151,958
JESSICA BEYER ASSOCIATE DIRECTOR - MN (FORMER) 30.00
Highest
$104,615 $12,998 $117,613
ANNE MCSWEENEY DIRECTOR OF NATIONAL INIATIVES (FORMER) 30.00
Highest
$120,791 $2,712 $123,503
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 $9,273,101 $10,010,203 $6,993,255 $-737,102
2024 $30,342,329 $31,549,339 $15,837,465 $-1,207,010
2023 $29,299,227 $23,126,208 $15,096,909 $6,173,019
2022 $9,546,912 $10,709,389 $10,144,998 $-1,162,477
2021 $4,134,768 $2,983,202 $8,206,336 $1,151,566
2020 $4,344,505 $2,484,954 $6,829,243 $1,859,551
2019 $1,828,616 $2,080,954 $4,623,662 $-252,338
2018 $1,818,437 $1,822,644 $4,581,172 $-4,207
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