Minnesota Business Finance Corporation
Fiscal year ending 2024. Filed on March 12, 2025.
616 Roosevelt Rd 200
ST Cloud, Minnesota 56301
Minnesota Business Finance Corporation (EIN: 41-1846655) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Minnesota Business Finance Corporation, a 501(c)(3) charitable organization, reported compensation for 11 out of 17 total employees. Among the employees shown here, the average compensation is $139,116. The highest compensated employee at Minnesota Business Finance Corporation is Thomas Saehr with fiscal year 2024 compensation of $380,146.
Revenue, expenses, and employee compensation
Revenue
$4,303,425
Expenses
$3,545,186
Employee compensation
$2,476,890
Reported Compensated Employees
＋5.0%vs 2023
Thomas Saehr
Former President and Ceo/Boa
$380,146
$351,007 from orgNo related comp$29,139 other
－2.4%vs 2023
Nadene Kruize
President and Chief Executive Officer
$303,728
$259,407 from orgNo related comp$44,321 other
－3.7%vs 2023
Joseph Kammermeier
Vice President Business DE
$192,298
$158,090 from orgNo related comp$34,208 other
－0.7%vs 2023
Terry Stein
Vice President Business DE
$185,231
$149,591 from orgNo related comp$35,640 other
－2.8%vs 2023
Michael Stearns
Vice President Business DE
$176,981
$137,757 from orgNo related comp$39,224 other
＋6.1%vs 2023
Jennifer Fitzpatrick
Vice President LOAN Portf
$144,291
$113,322 from orgNo related comp$30,969 other
＋0.6%vs 2023
Sarah Borgman
Chief Credit Officer
$126,006
$101,919 from orgNo related comp$24,087 other
±0%vs 2023
Maurice Durheim
Chair
$7,200
$7,200 from orgNo related compNo other comp
±0%vs 2023
Bob Palmquist
Treasurer
$4,800
$4,800 from orgNo related compNo other comp
±0%vs 2023
Carol Anderson
Vice Chair
$4,800
$4,800 from orgNo related compNo other comp
±0%vs 2023
Dale Umlauf
Secretary
$4,800
$4,800 from orgNo related compNo other comp
Non-Employee Board Members
±0%vs 2023
Dusten Johnson
Board Member
$4,800
$4,800 from orgNo related compNo other comp
±0%vs 2023
James Vrchota
Board Member
$3,600
$3,600 from orgNo related compNo other comp
±0%vs 2023
Mark Schik
Board Member
$3,600
$3,600 from orgNo related compNo other comp
±0%vs 2023
Nancy Hoffman
Board Member
$3,600
$3,600 from orgNo related compNo other comp
±0%vs 2023
Chad Syltie
Board Member
$3,600
$3,600 from orgNo related compNo other comp
±0%vs 2023
Dan Nygaard
Board Member
$3,600
$3,600 from orgNo related compNo other comp
±0%vs 2023
Matthew Dorothy
Board Member
$3,600
$3,600 from orgNo related compNo other comp
Mission Statement
TO PROMOTE SMALL BUSINESS & JOBS
Revisions to this organization profile
March 12, 2025:
2024 Minnesota Business Finance Corporation 990 filed
February 15, 2024:
2023 Minnesota Business Finance Corporation 990 filed
April 3, 2023:
2022 Minnesota Business Finance Corporation 990 filed
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