Northland Foundation FY2024 filing

Tax-deductible

Duluth, MN501(c)(3)Since 1986Foundations & GrantmakersEIN 41-1554455Revenue $16.2M in FY2024

On file with the IRSnorthlandfdn.org202 W Superior Street 800 Sellwood, 55802-1936 · Duluth, MNTax-exempt since Aug 1986Publicly supported charity — 170(b)(1)(A)(vi)

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The Northland Foundation invests in people and communities to support a thriving northeast minnesota. We serve seven counties and five tribal nations in northeast minnesota with grants, business loans, kids plus program, and special initiatives.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$693K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $6.5M a year · 33% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$693K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $481K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$6.2M
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.2M
+39% vs prior year
Spent
$17.0M
To programs
91%
Net assets
$113.5M
By yearFY2021–FY2025
Revenue
$16.2M
FY2024▲ +39%
Tap a bar for its year
Revenue by fiscal year
FY2021$27.7M
FY2022$27.9M
FY2023$11.7M
FY2024$16.2M
FY2025$14.0M
Expenses
$17.0M
FY2024▲ +51%
Tap a bar for its year
Expenses by fiscal year
FY2021$13.4M
FY2022$12.2M
FY2023$11.2M
FY2024$17.0M
FY2025$11.4M
Net assets
$113.5M
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2021$112.4M
FY2022$108.1M
FY2023$110.2M
FY2024$113.5M
FY2025$121.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1986.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $15.4M Management & general 8% · $1.3M Fundraising 1% · $202K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $693K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$202,151Pt VII · Sec A
Chief Operating Officer
$142,968Pt VII · Sec A
Chief Financial Officer
$126,190Pt VII · Sec A
Business Finance Director
$117,194Pt VII · Sec A
Sbdc Regional Director
$104,685Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Anthony Sertich’s $215K as President is at the 40th percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Anthony Sertich$214,991$202,151$186,958$183,839$180,634
Lynn Haglin———$105,329$165,416
Zane Bail$154,870$142,968$138,215$116,984—
Heather Brouse$135,321$126,190$122,565$117,725$115,567
Michelle Ufford$125,539————
Michael Colclough$125,278$117,194$112,541$114,357—
Vicki Hagberg$113,156$104,685———
Curt Walczak$112,113————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides grants, business loans, and youth programs to support economic development and community thriving across seven counties and five Tribal nations in northeast Minnesota.

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Provided by the organization

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3 programs · $15.4M · in their own filed words · FY2023
01

The grant program provides financial and technical resources to tax-exempt nonprofits and public entities such as school districts within our 7-COUNTY region. Our priority areas are: 1) children, youth and families; 2) individual and community wellbeing; and 3) maada'ookiing, to support grassroots efforts to strengthen indigenous…

$12.2Mprogram expense
02

The kids plus program has been improving the well-being of children and youth since 1992. From birth to adulthood. Kids plus provides: 1) early childhood efforts encompassing early care and education, infant and early childhood mental health, and increased access to high-quality child care; 2) youth programs including leadership…

$1.7Mprogram expense
03

The business services program offers technical assistance and flexible financing to assist with business start-up and expansion within our 7-COUNTY region, in order to bolster the regional economy and promote job creation - critical components of thriving communities.

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 5 funders$481K
See all 5 funders →
Grants paid · 1,151 grants · $39.5M · 2020–2024
Depot on Central LLCFY2024$750,000
Unitemized GrantFY2024$359,474
Northspan Group IncorporatedMN · FY2024$300,000
Ely HardwareFY2024$199,000
Unitemized GrantFY2024$135,000
Unitemized GrantFY2024$106,490
Roots and Wings Early Learning Center LLCFY2024$100,000
Boys Club of DuluthMN · FY2024$100,000
YWCA of DuluthMN · FY2024$85,000
Fond Du Lac Band of Lake Superior ChippewaFY2024$75,000
Smart NorthMN · FY2024$50,749
Rainy River RugratsFY2024$50,000
Tamarack Learning Center Child Care INCFY2024$50,000
Duluth Children's Museum INCMN · FY2024$50,000
Divine Konnections INCMN · FY2024$50,000
See all 1,151 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$16.2M
Ln 12
Gifts and grantsLn 1h$12.9M
Investment incomeLn 3$2.9M
Fees for servicesLn 2g$358K
Money outPt IX
$17.0M
Ln 25
Programscol B$15.4M
Managementcol C$1.3M
Fundraisingcol D$202K
Owns and owesPt X
$113.5M
net assets · Ln 32
Cash and savingsLn 1–2$14.9M
Total assetsLn 16$119.7M
LiabilitiesLn 26$6.2M
PeoplePt VI, VII
19
listed · VII A
PaidVII A5
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.9M
Government grantsLn 1e$11.8M
Fees for servicesLn 2g$358K
Investment incomeLn 3$2.9M
Other incomeLn 4–11$4K
Gains on assetsLn 7$286K
Total revenueLn 12$16.2M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$11.8M
Cash and savings togetherLn 1–2$14.9M
InvestmentsLn 11–13$95.0M
Land, buildings, equipmentLn 10c$195K
Other assetsLn 15$81K
Total assetsLn 16$119.7M
LiabilitiesLn 26$6.2M
Net assetsLn 32$113.5M
OperationsPt I, VI
EmployeesI 522
VolunteersI 6459
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$13.0M$14.9M
InvestmentsLn 11–13$92.3M$95.0M
Land, buildings, equipmentLn 10c$88K$195K
Total assetsLn 16$115.1M$119.7M
LiabilitiesLn 26$4.9M$6.2M
Net assetsLn 32$110.2M$113.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.1M$7.1M
Grants to domestic individualsLn 2$4.2M$4.2M
Pay of current officers, directors and key staffLn 5$411K$228K$89K$94K
Other salaries and wagesLn 7$1.7M$1.5M$168K$43K
Pension plan contributionsLn 8$85K$76K$6K$2K
Other employee benefitsLn 9$339K$297K$34K$8K
Payroll taxesLn 10$153K$124K$20K$8K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$75K$20K$55K
Lobbying feesLn 11d$2K$2K
Professional fundraising feesLn 11e$41K$41K
Investment management feesLn 11f$630K$630K
Other fees for servicesLn 11g$1.2M$1.2M$9K$256
Advertising and promotionLn 12$57K$35K$22K
Office expensesLn 13$47K$40K$7K$437
Information technologyLn 14$156K$35K$121K$229
OccupancyLn 16$52K$52K
TravelLn 17$101K$53K$48K$158
Conferences, conventions and meetingsLn 19$108K$95K$10K$3K
Depreciation, depletion and amortizationLn 22$45K$9K$36K
InsuranceLn 23$35K$35K
Other expenses (24a–d)Ln 24$305K$299K$4K$2K
Total functional expensesLn 25$17.0M$15.4M$1.3M$202K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14.0M$11.4M$2.6M$121.0M 990 PDF
FY2024 Viewing $16.2M$17.0M−$761K$113.5M 990 PDF
FY2023 $11.7M$11.2M$438K$110.2M 990 PDF
FY2022 $27.9M$12.2M$15.7M$108.1M 990 PDF
FY2021 $27.7M$13.4M$14.3M$112.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $16,195,946 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,958,244$12,927,206
I-9 Program service revenuePrior year $300,963$358,091
I-10 Investment incomePrior year −$575,098$2,906,726
I-11 Other revenuePrior year $522$3,923
I-12 Total revenuePrior year $11,684,631$16,195,946
I-13 Grants and similar amounts paidPrior year $6,009,974$11,315,585
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,341,049$2,734,980
I-16a Professional fundraising feesPrior year $33,200$41,000
I-17 Other expensesPrior year $2,861,984$2,865,351
I-18 Total expensesPrior year $11,246,207$16,956,916
I-19 Revenue less expensesPrior year $438,424−$760,970
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $16,195,946 across 8 lines filed
VIII-1e Government grants$11,774,569
VIII-1f All other contributions, gifts and grants$1,152,637
VIII-1h Total contributions, gifts and grants$12,927,206
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $358,091$358,091
VIII-3 Investment incomeExcluded from tax $2,620,991$2,620,991
VIII-7 Net gain or loss on sales of assetsExcluded from tax $285,735$285,735
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,923$3,923
VIII-12 Total revenueRelated to mission $358,091 · Unrelated business $0 · Excluded from tax $2,910,649$16,195,946
Part IX · Statement of functional expenses $16,956,916 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $7,082,157$7,082,157
IX-2 Grants to domestic individualsPrograms $4,233,428$4,233,428
IX-5 Pay of current officers, directors and key staffPrograms $227,555 · Management $89,225 · Fundraising $94,234$411,014
IX-7 Other salaries and wagesPrograms $1,536,246 · Management $168,250 · Fundraising $43,167$1,747,663
IX-8 Pension plan contributionsPrograms $76,289 · Management $6,352 · Fundraising $2,257$84,898
IX-9 Other employee benefitsPrograms $296,937 · Management $33,855 · Fundraising $7,788$338,580
IX-10 Payroll taxesPrograms $124,440 · Management $19,926 · Fundraising $8,459$152,825
IX-11b Legal feesPrograms $20,615$20,615
IX-11c Accounting feesPrograms $19,971 · Management $54,632$74,603
IX-11d Lobbying feesManagement $2,500$2,500
IX-11e Professional fundraising feesFundraising $41,000$41,000
IX-11f Investment management feesManagement $630,120$630,120
IX-11g Other fees for servicesPrograms $1,222,844 · Management $9,309 · Fundraising $256$1,232,409
IX-12 Advertising and promotionPrograms $34,813 · Management $21,762$56,575
IX-13 Office expensesPrograms $39,516 · Management $6,710 · Fundraising $437$46,663
IX-14 Information technologyPrograms $34,738 · Management $120,900 · Fundraising $229$155,867
IX-16 OccupancyManagement $51,918$51,918
IX-17 TravelPrograms $53,247 · Management $47,726 · Fundraising $158$101,131
IX-19 Conferences, conventions and meetingsPrograms $94,577 · Management $10,094 · Fundraising $2,865$107,536
IX-22 Depreciation, depletion and amortizationPrograms $9,499 · Management $35,943$45,442
IX-23 InsuranceManagement $34,971$34,971
IX-24 Other expenses (24a–d)Programs $299,322 · Management $4,179 · Fundraising $1,500$305,001
IX-25 Total functional expensesPrograms $15,406,194 · Management $1,348,372 · Fundraising $202,350$16,956,916
Part X · Balance sheet $119,701,176 assets, 19 lines filed
Asset lines not itemized here account for $6,140,148; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,345,123$3,127,954
X-2 Savings and temporary cash investmentsStart of year $9,700,085$11,815,580
X-3 Pledges and grants receivableStart of year $4,434,349$3,297,331
X-4 Accounts receivableStart of year $29,069$45,725
X-9 Prepaid expenses and deferred chargesStart of year $40,028$45,080
X-10c Land, buildings and equipment, netStart of year $88,370$195,053
X-11 Publicly traded securitiesStart of year $86,447,689$88,750,470
X-12 Other securitiesStart of year $5,894,626$6,202,459
X-15 Other assetsStart of year $122,125$81,376
X-16 Total assetsStart of year $115,113,281$119,701,176
X-17 Accounts payable and accrued expensesStart of year $834,073$1,889,555
X-18 Grants payableStart of year $1,315,000$1,672,571
X-19 Deferred revenueStart of year $2,654,837$2,529,513
X-25 Other liabilitiesStart of year $122,125$81,376
X-26 Total liabilitiesStart of year $4,926,035$6,173,015
X-27 Net assets without donor restrictionsStart of year $106,474,809$109,956,815
X-28 Net assets with donor restrictionsStart of year $3,712,437$3,571,346
X-32 Total net assets or fund balancesStart of year $110,187,246$113,528,161
X-33 Total liabilities and net assetsStart of year $115,113,281$119,701,176
Part XI · Reconciliation of net assets $113,528,161 net assets at year end
XI-1 Total revenue$16,195,946
XI-2 Total expenses$16,956,916
XI-3 Revenue less expenses−$760,970
XI-4 Net assets at start of year$110,187,246
XI-5 Net unrealized gains (losses) on investments$4,101,885
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$113,528,161

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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