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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Community Improvement & Capacity Building Southern Minnesota Initiative Foundation

Southern Minnesota Initiative Foundation

Fiscal year ending 2024. Filed on April 24, 2025.

525 Florence Ave
Owatonna, Minnesota 55060

Southern Minnesota Initiative Foundation (EIN: 36-3454285) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Southern Minnesota Initiative Foundation, a 501(c)(3) charitable organization, reported compensation for 4 out of 24 total employees. Among the employees shown here, the average compensation is $157,127. The highest compensated employee at Southern Minnesota Initiative Foundation is Timothy Penny with fiscal year 2024 compensation of $206,148.

Revenue, expenses, and employee compensation

Revenue

$8,360,704

Expenses

$6,906,181

Employee compensation

$1,793,547
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Timothy Penny
President and Chief Executive Officer
$206,148
$164,038 No related comp$42,110
Pamela Bishop
Vice President, Economic Development
$151,559
$108,156 No related comp$43,403
Brian Conzemius
Vice President and Chief Financial Officer
$148,607
$131,445 No related comp$17,162
Rae Jean Hansen
Vice President of Early Childhood
$122,192
$115,107 No related comp$7,085

Benchmark Employee Compensation

Non-Employee Board Members

Angel Uribe
Member at-large
Bob Mann
Member at-large
Brad Hoiness
Member at-large
Chris Schad
Secretary
Erin Bailey
Member at-large
Erin Meier
Vice Chair
Heather Millard
Member at-large
Ian Bents
Member at-large
Ibrahim Hussein
Member at-large
Jake Anderson
Treasurer
Jamila Ibrahim
Director
Matt Coy
Member at-large

Mission Statement

SOUTHERN MINNESOTA INITIATIVE FOUNDATION IS A REGIONAL DEVELOPMENT AND PHILANTHROPIC ORGANIZATION THAT FOSTERS ECONOMIC AND COMMUNITY VITALITY IN 20 COUNTIES OF SOUTHERN MINNESOTA THROUGH A CULTURE OF COLLABORATION AND PARTNERSHIP, WITH A FOCUS ON ENTREPRENEURS AND EARLY CHILDHOOD DEVELOPMENT.

Revisions to this organization profile

April 24, 2025:
2024 Southern Minnesota Initiative Foundation 990 filed
May 8, 2024:
2023 Southern Minnesota Initiative Foundation 990 filed
April 25, 2023:
2022 Southern Minnesota Initiative Foundation 990 filed

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