Public Charity

NORTHEAST ENTREPRENEUR FUND INC

NORTHEAST ENTREPRENEUR FUND INC is a Public Charity headquartered in DULUTH, MN. Financial data from the 2024 filing: $20.6M revenue, $13.6M expenses, $83.4M total assets. 26 publicly reported grants to this organization, totaling roughly $10.6M, appear in IRS filings.

EIN: 363566632 DULUTH, MN Latest filing: 2024
Total Revenue$20.6M
Total Expenses$13.6M
Total Assets$83.4M
Grant Records26
Funding Total$10.6M
Filing Years2019–2024

Mission

THE MISSION OF ENTREPRENEUR FUND IS TO ADVANCE COMMUNITY ECONOMIC DEVELOPMENT IN RURAL AND UNDERSERVED COMMUNITIES. WE WORK TO ACHIEVE THIS BY ACTIVELY PARTNERING WITH ENTREPRENEURS TO STIMULATE THE GROWTH OF SUCCESSFUL BUSINESSES. OUR VISION IS TO HAVE VIBRANT COMMUNITIES AND A DIVERSE REGIONAL ECONOMY THAT IS CREATED AND SUSTAINED BY ENTREPRENEURS.

Sample Grants Received

$9,000,000
INITIATIVE FOUNDATION
2024
TO SUPPORT THE EDUCATIONAL EFFORTS OF THE ORGANIZATION
$9,000
DULUTH 1200 FUND INC
2023
The Northeast Entrepreneur Fund received the Downtown Duluth Revitalization Project grant, to assist businesses in need to help revitalize the Downtown Duluth Business district. The Entrepreneur Fund received $50,000 for grants to be given to eligible businesses ($2,500 each), and $10,000 to cover the Entrepreneur Fund's costs to perform tasks per the grant's guidelines, which entailed developing grant criteria & application forms, solicit grant applications, review & make recommendations for the grants and compliance with eligibility, submit recommendations, prepare grant agreements for eligible businesses, disburse grant funding, monitor grant compliance, and report to the 1200 Fund. Note: An $11,000 match was required from the organization Downtown Duluth.
$60,000
DULUTH-SUPERIOR AREA COMMUNITY FOUNDATION
2023
EMPOWERING THRIVING COMMUNITIES & ENTREPRENEURS, UNRESTRICTED
$20,100
OPPORTUNITY FINANCE NETWORK
2022
OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG
$500,000

Showing up to 5 of 26 total records — full history available with membership.

Officers & Directors

VICE-CHAIR Arik Forsman
DIR. OF ACCOUNTING AND COMPLIANCE Carla Tichy
CHAIR Crystal Rohde
DIRECTOR David Manion
DIRECTOR Diane Weber
DIRECTOR (THRU 8/31) Dustin Goslin

Officer compensation and complete director data available with membership.

Top Grant Purposes

COMMUNITY & HUMAN SERVICES
$9,000,000 1 grant
OFN CDFI TECH GRANT PROGRAM SUPPORTED BY GOOGLE.ORG
$500,000 1 grant
FINANCE JUSTICE FUND SUBGRANT
$250,000 1 grant
LOAN CAPITAL TO SMALL BUSINESS THAT CREATE AND RETAIN JOBS IN RURAL COUNTIES OF WI AND MN
$200,000 2 grants
OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG
$125,000 1 grant

Financial Trends

Year Revenue Expenses Assets
2024 $20.6M $13.6M $83.4M
2023 $12.8M $7.8M $70.8M
2022 $13.0M $7.2M $67.9M
2020 $10.0M $4.8M $46.3M
2019 $4.9M $3.5M $27.9M

Between 2019 and 2024, reported annual revenue grew from $4.9M to $20.6M (+324%), with total assets most recently reported at $83.4M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for NORTHEAST ENTREPRENEUR FUND INC

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