FIRST CHILDREN'S FINANCE GROUP

EIN: 993692335 501(c)(3) Human Services

MINNEAPOLIS, MN

Total Revenue
$6,192,975
Total Expenses
$5,948,962
Total Assets
$7,176,722
Net Assets
$5,747,011
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

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

FIRST CHILDREN'S FINANCE GROUP, founded in 2024, is a community nonprofit in the Human Services sector that reported $6.2M in total revenue in fiscal year 2024. Expenses of $5.9M left a modest 4% surplus.

Mission

FIRST CHILDREN'S FINANCE GROUP (FCF) GROWS THE SUPPLY AND SUSTAINABILITY OF HIGH-QUALITY CHILD CARE BY STRENGTHENING THE BUSINESS AND FINANCIAL FOUNDATIONS OF THE SECTOR. 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: $5,111,017 Revenue: $219,572

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

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,958,297
Program Service Revenue $215,387
Investment Income $15,106
Other Revenue $4,185
TOTAL REVENUE $6,192,975

Expense Breakdown

Grants Paid $2,105,762
Salaries & Benefits $2,839,142
Fundraising Expenses $147,718
Program Expenses $5,111,017
Other Expenses $1,004,058
TOTAL EXPENSES $5,948,962

Year-over-Year Comparison

2024 2023 Change
Revenue $6,192,975 N/A N/A
Expenses $5,948,962 N/A N/A
Net Income $244,013 N/A N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
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
9
$987,104
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUZANNE HUMBERT CHAIR 0.19
Officer Director
$0 $0 $0
PATRICK SKILES TREASURER 0.19
Officer Director
$0 $0 $0
ELIZABETH DAVIS SECRETARY 0.19
Officer Director
$0 $0 $0
WALTER GILLIAM DIRECTOR 0.25
Director
$0 $0 $0
ROGER NEUGEBAUER DIRECTOR 0.25
Director
$0 $0 $0
NICOLE BARCLIFF DIRECTOR 0.25
Director
$0 $0 $0
KELLY ELKIN DIRECTOR 0.25
Director
$0 $0 $0
DAVID ARENS DIRECTOR 0.25
Director
$0 $0 $0
MELANIE BRIZZI DIRECTOR 0.25
Director
$0 $0 $0
DAFINA WILLIAMS DIRECTOR 0.19
Director
$0 $0 $0
ALICIA BUTLER PIERRE FORMER DIRECTOR 0.25
Director
$0 $0 $0
EDITH JOHNSON FORMER DIRECTOR 0.25
Director
$0 $0 $0
MARIA MEDINA FORMER DIRECTOR 0.25
Director
$0 $0 $0
GERALD CUTTS PRESIDENT & CEO (FORMER) 0.00
Officer
$0 $0 $288,495
HEIDI HAGEL-BRAID PRESIDENT & CEO 7.50
Officer
$0 $12,641 $207,862
BEN NICHOLIE COO 7.50
Officer
$0 $16,353 $206,432
MICHAEL-JOHN MYETTE CHIEF STATES OFFICER 10.00
Officer
$0 $8,307 $65,650
CHEYENNE MCGREGOR CHIEF ADVANCEMENT OFFICER 7.50
Officer
$0 $0 $153,838
STACIE REINER CFO 7.50
Officer
$0 $8,069 $64,827
SUZANNE PEARL MINNESOTA DIRECTOR 10.00
Highest
$0 $7,580 $159,773
HEIDI SCHLUETER PROGRAM DIRECTOR 10.00
Highest
$0 $5,384 $151,958
ANNE MCSWEENEY DIRECTOR OF NATIONAL INIATIVES 10.00
Highest
$0 $2,712 $123,503
JESSICA BEYER ASSOCIATE DIRECTOR - MN 10.00
Highest
$0 $12,998 $117,613
MARK A DICKERSON MARKETING & COMMUNICATIONS DIRECTOR 7.50
Highest
$0 $6,012 $106,167
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 $6,192,975 $5,948,962 $7,176,722 $244,013
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