Non-profit

Propel Nonprofits

Website:

propelnonprofits.org

Location:

Minneapolis, MN

Tax ID:

41-1916337

Tax-Exempt Status:

501(c)(3)

Budget (2023):

Revenue: $9,328,353
Expenses: $12,331,034
Assets: $44,298,816

Type:

Community development financial institution (CDFI)

Formation:

1998

CEO:

Henry Jimenez

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Propel Nonprofits is a federally certified community development financial institution (CDFI) that provides capacity-building services for third-party nonprofits, as well as serving as an intermediary for financial capital for nonprofits. Propel Nonprofits was created after the merger of the Nonprofits Assistance Fund and MAP for Nonprofits in 2017. 1 The group supports hundreds of nonprofits, especially in the Twin Cities region, each year. 2

Services

Propel Nonprofits provides third-party nonprofits with services to help grow their capacities, including fiscal sponsorship, accounting and finance, recruitment to boards through its Board Connector Program, lending, consulting, and leadership training through its Leaders Circle. 3

Funding

In 2023, Propel Nonprofits reported $9,328,353 in revenues and $12,331,034 in expenses, with $44,298,816 in total assets and 37 employees. Funding levels dropped between the fiscal years of 2022 and 2023, with revenues falling over 35%, and total grants and contributions falling 44%, from the previous year’s numbers. 4

In 2024, Propel Nonprofits received an $8 million donation from MacKenzie Scott, ex-wife of Amazon founder and CEO Jeff Bezos, as part of the more than $17 billion she’s donated since 2020. Another Minnesota-based organization, the Entrepreneur Fund, also received $9 million from Scott in the wave of donations, as part of her support for the Community Development Financial Institutions (CDFIs) sector. 5

In 2022, Propel Nonprofits reported receiving a $750,000 donation from the Margaret A Cargill Foundation for Rooted to Last, one of Propel’s fiscally sponsored projects. 4 6 Rooted to Last seeks to build a “social justice movement infrastructure” for Minnesota’s “communities of color.” 7 The Margaret A Cargill Foundation is one of the three private foundations making up the larger Margaret A. Cargill Philanthropies, of which the Foundation is a subordinate organization. 8

In 2023, Propel Nonprofits reported receiving a $655,000 donation from the Minneapolis Foundation, a  left-of-center grantmaking organization that focuses on the critical race theory-influenced concepts of equity. 4 9

In 2023, Propel Nonprofits reported receiving $353,000 donation from the Fidelity Investments Charitable Gift Fund, which is itself another grantmaking and funding organization that specializes in donor-advised funds (DAFs). 4 10

People

Henry Jimenez is the chief executive officer of Propel Nonprofits. 4 Prior to his work at Propel Nonprofits, Jimenez was the CEO of the Latino Economic Development Center, and the executive director for the Minnesota Council on Latino Affairs. 11

Kate Barr is the president of Propel Nonprofits. 4 Barr also works as a senior advisor for the Minnesota CDFI Coalition and board chair for the Jerome Foundation. 12

Propel Nonprofit’s CFO, Ellie O’Brien, was named CFO of the Year in 2024 by the Minneapolis/St. Paul Business Journal. 13

References

  1. “Our Story.” Propel, April 2, 2024. https://propelnonprofits.org/about/our-story/.
  2. Sego, Alyxandra. “Meet Propel’s New CEO, Henry Jiménez, Who Plans to Champion Nonprofits.” Bizjournals.com, June 10, 2024. https://www.bizjournals.com/twincities/news/2024/06/10/henry-jimenez-propel-nonprofit-ceo.html
  3. “Services.” Propel, March 28, 2024. https://propelnonprofits.org/services/.
  4. “Propel Nonprofits.” Cause IQ. Accessed January 6, 2025. https://www.causeiq.com/organizations/propel-nonprofits,411916337/.
  5. Tremayne-Pengelly, Alexandra. “Mackenzie Scott Has Quietly given Away over $17B since 2020: Her Latest Donations.” Observer, November 22, 2024. https://observer.com/2024/11/billionaire-philanthropist-mackenzie-scott-quietly-donates-300m/
  6. “Propel Nonprofits on Linkedin: Opportunities – Rooted to Last.” LinkedIn, July 15, 2024. https://www.linkedin.com/posts/propelnonprofits_opportunities-rooted-to-last-activity-7218644246705123329-B_u3/
  7. “Welcome.” Rooted to Last, September 30, 2024. https://rootedtolast.org/.
  8. “Domains.” Margaret A. Cargill Philanthropies, November 19, 2024. https://www.macphilanthropies.org/domains/.
  9. Minneapolis Foundation. “Statement on Police-Involved Death of George Floyd: Stories.” Minneapolis Foundation. Accessed January 6, 2025. https://www.minneapolisfoundation.org/stories/community-issues/statement-on-police-involved-death-of-george-floyd/.
  10. Fidelity Charitable. Accessed January 6, 2025. https://www.fidelitycharitable.org/.
  11. “Henry Jiménez – President and CEO – Propel Nonprofits.” LinkedIn. Accessed January 6, 2025. https://www.linkedin.com/in/henry-jiménez-a24611174.
  12. “Kate Barr.” LinkedIn. Accessed January 6, 2025. https://www.linkedin.com/in/katesbarr/.
  13. Jones, Carter. “2024 CFO of the Year: Ellie O’Brien, Propel Nonprofits.” Bizjournals.com. Accessed January 6, 2025. https://www.bizjournals.com/twincities/news/2024/11/15/cfo-of-the-year-ellie-obrien-propel.html.
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Nonprofit Information

  • Accounting Period: March - February
  • Tax Exemption Received: September 1, 2017

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2023 Mar Form 990 $9,328,353 $12,331,034 $44,298,816 $26,071,781 N $6,939,034 $2,241,607 $147,712 $348,317
    2022 Mar Form 990 $14,478,230 $9,007,511 $49,559,623 $28,333,338 N $12,415,603 $2,042,057 $20,570 $389,856
    2021 Mar Form 990 $7,736,774 $7,474,313 $39,871,076 $24,726,035 N $5,638,500 $2,082,787 $15,487 $704,569 PDF
    2020 Mar Form 990 $8,339,894 $7,155,426 $40,727,822 $25,845,242 N $5,703,358 $2,571,914 $80,433 $505,223 PDF
    2019 Mar Form 990 $8,147,322 $7,479,100 $38,277,659 $24,579,547 N $5,598,397 $2,523,581 $25,344 $496,737 PDF
    2018 Mar Form 990 $6,123,073 $6,962,892 $32,125,168 $19,095,278 N $3,719,704 $2,382,337 $21,032 $481,322 PDF
    2017 Mar Form 990 $8,894,004 $4,201,547 $28,055,965 $14,186,256 N $7,303,225 $1,544,974 $13,904 $463,604 PDF
    2016 Mar Form 990 $2,191,595 $1,871,452 $23,436,143 $14,258,891 N $793,565 $1,379,966 $15,835 $291,844 PDF
    2015 Mar Form 990 $2,885,507 $1,803,866 $23,075,277 $14,218,168 N $1,676,289 $1,186,993 $17,672 $274,032 PDF
    2014 Mar Form 990 $1,255,681 $1,735,792 $18,411,769 $10,636,301 N $252,687 $979,034 $23,960 $266,347 PDF
    2013 Mar Form 990 $3,305,787 $1,436,265 $18,467,644 $10,212,065 N $2,313,673 $965,089 $27,025 $169,892 PDF
    2012 Mar Form 990 $2,625,267 $1,676,685 $16,757,544 $10,371,487 N $1,622,146 $981,869 $21,252 $162,504 PDF

    Additional Filings (PDFs)

    Propel Nonprofits


    Minneapolis, MN