Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
A For the 2023 calendar year, or tax year beginning 07-01-2023 , and ending 06-30-2024
BCheck if applicable:
CName of organization
SOUTHWEST INITIATIVE FOUNDATION
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
15 3RD AVE NW
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HUTCHINSON, MN55350
D Employer identification number

41-1555592
E Telephone number

G Gross receipts $ 36,450,981
F Name and address of principal officer:
SCOTT MARQUARDT
15 3RD AVE NW
HUTCHINSON,MN55350
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
WWW.SWIFOUNDATION.ORG
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1986
M State of legal domicile: MN
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: OUR MISSION IS CONNECTING PEOPLE, INVESTING IN IDEAS AND BUILDING COMMUNITIES.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 8
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 8
5 Total number of individuals employed in calendar year 2023 (Part V, line 2a) ...... 5 26
6 Total number of volunteers (estimate if necessary) ............. 6 330
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 0
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 10,905,312 6,475,047
9 Program service revenue (Part VIII, line 2g) ......... 671,974 539,606
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 1,614,187 4,521,886
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 81,005 81,005
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 13,272,478 11,617,544
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 5,333,725 4,883,898
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 2,323,485 2,180,473
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) 422,341    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 2,678,889 2,999,619
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 10,336,099 10,063,990
19 Revenue less expenses. Subtract line 18 from line 12....... 2,936,379 1,553,554
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 108,175,659 114,617,884
21 Total liabilities (Part X, line 26)............. 10,601,860 9,939,559
22 Net assets or fund balances. Subtract line 21 from line 20..... 97,573,799 104,678,325
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2023)
Form 990 (2023)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: SEE SCHEDULE O.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 2,620,201 including grants of $ 674,539 ) (Revenue $   )
PROGRAMS (SEE SCHEDULE O).
4b (Code:   ) (Expenses $ 3,014,749 including grants of $ 3,029,317 ) (Revenue $   )
AFFILIATE AND COMPONENT FUNDS (SEE SCHEDULE O).
4c (Code:   ) (Expenses $ 2,605,617 including grants of $ 1,180,042 ) (Revenue $ 539,606 )
ECONOMIC DEVELOPMENT (SEE SCHEDULE O).
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses8,240,567
Form 990 (2023)
Form 990 (2023)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment
List of Attached Documents:
// Content
.........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
Yes
 
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2023)
Form 990 (2023)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
List of Attached Documents:
// Content
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................Click to see attachment
List of Attached Documents:
// Content
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
 
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...
35b
 
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
List of Attached Documents:
// Content
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
76
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2023)
Form 990 (2023)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
26
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
No
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
No
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2023)
Form 990 (2023)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
8
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
8
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
MN , CA , FL
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MARGIE NELSEN CFO15 3RD AVE NW   HUTCHINSON,MN55350 (320) 587-4848
Form 990 (2023)
Form 990 (2023)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) SCOTT MARQUARDT......................................................................
PRESIDENT
 50.00
.................
  		    X       147,011 0 28,241
(2) MARGIE NELSEN......................................................................
CFO
 50.00
.................
  		    X       132,167 0 5,809
(3) NANCY FASCHING......................................................................
VICE PRESIDENT
 50.00
.................
  		    X       122,610 0 14,429
(4) THOMAS BRAKKE......................................................................
TREASURER
 4.00
.................
  		X   X       0 0 0
(5) TERRY GAALSWYK......................................................................
SECRETARY
 4.00
.................
  		X   X       0 0 0
(6) CHRISTINE ROCK HANTGE......................................................................
CHAIR
 6.00
.................
  		X   X       0 0 0
(7) PATRICIA LOEHR-DOLS......................................................................
PAST CHAIR
 6.00
.................
  		X   X       0 0 0
(8) DANIEL GREVE......................................................................
VICE CHAIR
 4.00
.................
  		X   X       0 0 0
(9) ABDIRIZAK MAHBOUB......................................................................
BOARD MEMBER
 4.00
.................
  		X           0 0 0
(10) ERICA VOLKIR......................................................................
BOARD MEMBER
 4.00
.................
  		X           0 0 0
(11) KATHY WEHKING......................................................................
BOARD MEMBER
 4.00
.................
  		X           0 0 0
(12) THERESA ZASKE......................................................................
BOARD MEMBER
 4.00
.................
  		X           0 0 0










Form 990 (2023)
Form 990 (2023)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;


























1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 401,788 0 48,479
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 3
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
RED STAR CREATIVE INC

103 15TH AVE NW STE 300
WILLMAR,MN562012199 		BUSINESS CONSULTING 107,250
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 1
Form 990 (2023)
Form 990 (2023)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e 400,307
f All other contributions, gifts, grants, and similar amounts not included above1f 6,074,740
g Noncash contributions included in lines 1a - 1f:$ 1g 439,855
h Total. Add lines 1a-1f....... 6,475,047
Program Service RevenueAmt Business Code
2a LOAN INTEREST INCOME 900099 473,183 473,183    
b OTHER PROGRAM INCOME 900099 51,411 51,411    
c LOAN ADMIN FEES 900099 15,012 15,012    
d
e
f All other program service revenue.        
g Total. Add lines 2a–2f ..... 539,606
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 4,511,302     4,511,302
4 Income from investment of tax-exempt bond proceeds        
5 Royalties...........        
(i) Real (ii) Personal
6a Gross rents 6a 81,005  
b Less: rental expenses 6b 0  
c Rental income or (loss) 6c 81,005  
d Net rental income or (loss)....... 81,005     81,005
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 24,843,671 350
b Less: cost or other basis and sales expenses 7b 24,832,792 645
c Gain or (loss) 7c 10,879 -295
d Net gain or (loss)......... 10,584     10,584
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......  
12 Total revenue. See instructions..... 11,617,544 539,606 0 4,602,891
Form 990 (2023)
Form 990 (2023)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 2,543,092 2,543,092
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 2,340,806 2,340,806
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 442,941 228,316 195,968 18,657
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 1,364,649 793,715 388,568 182,366
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 65,738 38,122 18,728 8,888
9 Other employee benefits ....... 182,033 101,502 57,635 22,896
10 Payroll taxes ........... 125,112 70,485 40,378 14,249
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 95,432 76,225 9,145 10,062
c Accounting ........... 52,656 30,867 15,829 5,960
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ...... 335,576   335,576  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 328,809 305,672 19,982 3,155
12 Advertising and promotion .... 40,731 21,645 14,111 4,975
13 Office expenses ....... 108,682 54,561 26,590 27,531
14 Information technology ...... 327,606 196,986 93,310 37,310
15 Royalties ..        
16 Occupancy ........... 56,524 31,986 18,206 6,332
17 Travel ............ 148,406 112,836 14,802 20,768
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 136,233 109,038 16,404 10,791
20 Interest ........... 26,880 26,052 613 215
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 184,148 104,197 59,379 20,572
23 Insurance ... 36,921 21,056 11,841 4,024
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a PROGRAM DELIVERY 776,049 773,390 2,106 553
b SPONSORSHIPS 101,470 95,150 4,747 1,573
c FUNDRAISING COSTS 54,327 49,412   4,915
d PUBLIC RELATIONS 24,503 19,372   5,131
e All other expenses 164,666 96,084 57,164 11,418
25 Total functional expenses. Add lines 1 through 24e 10,063,990 8,240,567 1,401,082 422,341
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2023)
Form 990 (2023)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 3,600 1 3,600
2 Savings and temporary cash investments ......... 1,516,045 2 880,423
3 Pledges and grants receivable, net ...... 2,441,977 3 3,212,735
4 Accounts receivable, net .............   4  
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ........... 9,524,791 7 11,241,527
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 75,749 9 111,403
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 4,325,277
b Less: accumulated depreciation 10b 2,134,791 2,351,218 10c 2,190,486
11 Investments—publicly traded securities . 82,249,621 11 86,917,537
12 Investments—other securities. See Part IV, line 11 ..... 9,937,871 12 9,954,577
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 74,787 15 105,596
16 Total assets. Add lines 1 through 15 (must equal line 33)... 108,175,659 16 114,617,884
Liabilities 17 Accounts payable and accrued expenses ..... 521,517 17 592,317
18 Grants payable ... 2,488,217 18 1,976,278
19 Deferred revenue ......... 714,970 19 488,568
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D 1,796,720 21 2,007,182
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties .. 1,239,321 23 1,121,564
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 3,841,115 25 3,753,650
26 Total liabilities. Add lines 17 through 25.. 10,601,860 26 9,939,559
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 31,359,248 27 34,919,400
28 Net assets with donor restrictions ........... 66,214,551 28 69,758,925
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 97,573,799 32 104,678,325
33 Total liabilities and net assets/fund balances ........ 108,175,659 33 114,617,884
Form 990 (2023)
Form 990 (2023)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
11,617,544
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
10,063,990
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
1,553,554
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
97,573,799
5
Net unrealized gains (losses) on investments ...............
5
4,878,279
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
672,693
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
104,678,325
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2023)
Form 990 (2023)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).
2
A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)
3
A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).
4
A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

5
An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)
6
A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).
7
An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)
8
A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)
9
An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:
10
An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
11
12
An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.
a
Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.
b
Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.
c
Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.
d
Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.
e
Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2019 (b) 2020 (c) 2021 (d) 2022 (e) 2023 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 6,744,893 8,969,349 11,533,461 10,905,312 6,475,047 44,628,062
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3 6,744,893 8,969,349 11,533,461 10,905,312 6,475,047 44,628,062
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. 8,240,192
6 Public support. Subtract line 5 from line 4. 36,387,870
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2019 (b) 2020 (c) 2021 (d) 2022 (e) 2023 (f) Total
7 Amounts from line 4.. 6,744,893 8,969,349 11,533,461 10,905,312 6,475,047 44,628,062
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 3,515,926 2,120,591 6,917,496 2,814,994 4,511,302 19,880,309
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..            
11 Total support. Add lines 7 through 10 64,508,371
12
12
3,018,997
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
56.410 %
15
15
54.290 %
16a
33 1/3% support test—2023. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2022. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2022. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2019 (b) 2020 (c) 2021 (d) 2022 (e) 2023 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2019 (b) 2020 (c) 2021 (d) 2022 (e) 2023 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2023. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3 % support tests—2022. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)
Schedule A (Form 990) 2023

Schedule A (Form 990) 2023
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2023 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2023 		(iii)
Distributable
Amount for 2023
1 Distributable amount for 2023 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2023:
a From 2018.......  
b From 2019.......  
c From 2020.......  
d From 2021.......  
e From 2022.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2023 distributable amount  
i Carryover from 2018 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2023 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2023 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2023, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2023. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2024. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2019.....  
b Excess from 2020.....  
c Excess from 2021.....  
d Excess from 2022.....  
e Excess from 2023.....  
Schedule A (Form 990) (2023)

Schedule A (Form 990) 2023
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 


Return Reference Explanation
Schedule A (Form 990) 2023


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
SOUTHWEST INITIATIVE FOUNDATION
  		Employer identification number
41-1555592
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
SOUTHWEST INITIATIVE FOUNDATION
  		Employer identification number

41-1555592
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
SOUTHWEST INITIATIVE FOUNDATION
  		Employer identification number

41-1555592
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow Complete if the organization is described below. right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public
Inspection
If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........right arrow

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2022

Schedule C (Form 990) 2022
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check right arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................    
b Total lobbying expenditures to influence a legislative body (direct lobbying) ........................    
c Total lobbying expenditures (add lines 1a and 1b) ............................................................    
d Other exempt purpose expenditures ...............................................................................    
e Total exempt purpose expenditures (add lines 1c and 1d) ..................................................    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................................................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ...................................................................................................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2019 (b) 2020 (c) 2021 (d) 2022 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990) 2022


Schedule C (Form 990) 2022
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes|No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
Yes
 
c
Media advertisements? ...................................................................................................
 
No
 
d
Mailings to members, legislators, or the public? .............................................................................
 
No
 
e
Publications, or published or broadcast statements? ...........................................................
 
No
 
f
Grants to other organizations for lobbying purposes? ..........................................................
 
No
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
 
No
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
No
 
i
Other activities? ...................................................................................................................
 
No
 
j
Total. Add lines 1c through 1i ....................................................................................................
0
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
PART II-B, LINE 1: TESTIFIED AT STATE LEGISLATIVE HEARINGS ON BEHALF OF FUNDING BILLS THAT WOULD SUPPORT DEVELOPMENT OF RURAL CHILD CARE SERVICES, EXPANSION OF RURAL BROADBAND SERVICES, AND INVESTMENTS IN RURAL ECONOMIC AND WORKFORCE DEVELOPMENT PROGRAMS.
Schedule C (Form 990) 2022


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year ......... 34 249
2 Aggregate value of contributions to (during year) 383,163 2,897,970
3 Aggregate value of grants from (during year) 495,385 4,321,017
4 Aggregate value at end of year ........ 4,504,119 100,174,208
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 62,995,987 56,667,037 67,222,638 54,745,386 55,881,915
b Contributions ... 693,204 3,736,326 1,102,480 1,156,537 598,604
c Net investment earnings, gains, and losses 7,960,523 5,443,856 -8,906,232 13,944,769 920,282
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		3,136,750 2,851,232 2,751,849 2,624,054 2,655,415
f Administrative expenses ....          
g End of year balance ...... 68,512,965 62,995,987 56,667,037 67,222,638 54,745,386
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow29.440 %
b
Permanent endowment right arrow62.890 %
c
Term endowment right arrow7.670 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
No
(ii) Related organizations .................
3a(ii)
 
No
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   1,015,000 1,015,000
b Buildings ....   1,716,299 747,023 969,276
c Leasehold improvements   234,429 222,044 12,385
d Equipment ....   1,359,549 1,165,724 193,825
e Other .....        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 2,190,486
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3) Other
(A) DONATED REAL ESTATE HELD AS INVESTMENTS		 2,124,500 C

(B) FARMLAND WITH LIFE ESTATE		 5,884,585 C

(C) CHARITABLE REMAINDER UNITRUST		 216,001 C

(D) INVESTMENTS HELD IN TRUST		 1,729,491 C
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 9,954,577
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
ANNUITY PAYABLE 31,250
LEASE LIABILITY 21,188
LIFE ESTATE LIABILITY 3,129,941
OBLIGATIONS OF SPLIT-INTEREST AGREEMENTS 216,001
INVESTMENT TRUST LIABILITY 355,270




Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 3,753,650
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2022

Schedule D (Form 990) 2022
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 16,099,354
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a 4,878,279
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d 91,124
e Add lines 2a through 2d ..................... 2e 4,969,403
3 Subtract line 2e from line 1.................. 3 11,129,951
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a 335,576
b Other (Describe in Part XIII.) ........... 4b 152,017
c Add lines 4a and 4b.................... 4c 487,593
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 11,617,544
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 10,314,118
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d 1,319,290
e Add lines 2a through 2d.................... 2e 1,319,290
3 Subtract line 2e from line 1................... 3 8,994,828
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a 335,576
b Other (Describe in Part XIII.) ........... 4b 733,586
c Add lines 4a and 4b..................... 4c 1,069,162
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 10,063,990
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART IV, LINE 2B: ASSETS HELD ON DONOR'S BEHALF AT JUNE 30, 2024 CONSISTS OF 22 FUNDS IN WHICH THE BENEFICIARIES WERE DESIGNATED BY THE DONOR AT THE TIME THE FUNDS WERE ESTABLISHED. THEREFORE, THE FOUNDATION HAS NO CONTROL OVER THE DISTRIBUTION OF THESE FUNDS.
PART V, LINE 4: THE SWIF GENERAL ENDOWMENT FUND IS ACCESSED THROUGH BOARD APPROVAL, GUIDED BY A SPENDING POLICY THAT ALLOWS RESOURCES TO BE USED TO SUPPLEMENT PROGRAM ACTIVITIES AND OPERATIONAL EXPENSES. OTHER DESIGNATED ENDOWED FUNDS ARE DIRECTED TO GRANTS AND EXPENSES RELATED TO THE DONOR'S ORIGINAL INTENT.
PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE INCOME TAX LAWS. THE FOUNDATION IS A NONPRIVATE FOUNDATION AND CONTRIBUTIONS TO THE ORGANIZATION QUALIFY AS A CHARITABLE TAX DEDUCTION BY THE CONTRIBUTOR. SWIF REAL ESTATE HOLDINGS LLC IS A 100% LLC AND SOUTHWEST MINNESOTA COMMUNITY CAPITAL IS A NON-PROFIT ORGANIZATION. BOTH ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES. IT IS THE POLICY OF THE FOUNDATION, IN ACCORDANCE WITH GAAP, TO ASSESS ANY UNCERTAIN TAX PROVISIONS AND, IF NECESSARY, RECORD A TAX ASSET OR LIABILITY, AND THE RELATED INCOME TAX EXPENSE, FOR ANY UNCERTAIN TAX PROVISIONS. THE FOUNDATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR UNRELATED BUSINESS INCOME. THE FOUNDATION FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT 91,124.
PART XI, LINE 4B - OTHER ADJUSTMENTS: AGENCY FUND REVENUES 152,017.
PART XII, LINE 2D - OTHER ADJUSTMENTS: ADOPTION OF ASC 326 (CECL) 1,319,290.
PART XII, LINE 4B - OTHER ADJUSTMENTS: AGENCY FUND EXPENSES 92,064. PROVISION FOR LOAN LOSS 641,522.
Schedule D (Form 990) 2022


Additional Data


Software ID:  
Software Version:  





Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number
41-1555592
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) ADULT TRAINING AND HABILITATION CENTER - WEST
425 CALIFORNIA ST NW
HUTCHINSON,MN553501501 		41-6052785 501(C)(3) 8,500 0     TOUR DE FRIENDS BIKING CLUB ATCH/WEST
(2) APPLETON AREA HEALTH
30 S BEHL ST
APPLETON,MN562081616 		41-0966278 GOVERNMENT 6,500 0     AAH CLINIC WAITING AREA REFRESH
(3) AUGUSTANA UNIVERSITY
2001 S SUMMIT AVE
SIOUX FALLS,SD571970001 		46-0224588 501(C)(3) 9,390 0     ORGANIZATIONAL SUPPORT
(4) BENSON GOLF CLUB FOUNDATION
2222 ATLANTIC AVE
BENSON,MN562151001 		82-0916866 501(C)(3) 10,000 0     GOLF CART PATH
(5) BLUE AND GOLD EDUCATIONAL FOUNDATION - DIST 891
108 SAINT OLAF AVE N
CANBY,MN562201372 		41-1522315 EDUCATION 31,658 0     FISCAL YEAR 2024 DISBURSEMENT
(6) CHILDREN'S DENTAL SERVICES
636 BROADWAY ST NE
MINNEAPOLIS,MN554132164 		41-0857929 501(C)(3) 15,000 0     EXPANDED ACCESS TO DENTAL CARE AND EDUCATION
(7) CITY OF BALATON
PO BOX 388
BALATON,MN561150388 		41-6004955 GOVERNMENT 58,936 0     FIRE DEPARTMENT GENERATOR
(8) CITY OF BENSON
1410 KANSAS AVE
BENSON,MN562151718 		41-6004975 GOVERNMENT 10,000 0     2ND SLIDE BY 2025
(9) CITY OF CLARKFIELD
PO BOX 278
CLARKFIELD,MN562230278 		41-6005042 GOVERNMENT 15,077 0     TURNOUT GEAR REPLACEMENT
(10) CITY OF COTTONWOOD
PO BOX 106
COTTONWOOD,MN562290106 		41-6005075 GOVERNMENT 31,825 0     SPLASH PAD
(11) CITY OF DARWIN
PO BOX 67
DARWIN,MN553240067 		41-6008390 GOVERNMENT 7,862 0     DARWIN PROJECTS 2023
(12) CITY OF DAWSON
PO BOX 552
DAWSON,MN562320552 		41-6005088 GOVERNMENT 12,500 0     DAWSON GNOME COMMITTEE
(13) CITY OF GRANITE FALLS
641 PRENTICE ST
GRANITE FALLS,MN562411517 		41-6005203 GOVERNMENT 79,588 0     RICE PARK PLAYGROUND
(14) CITY OF HENDRICKS
PO BOX 86
HENDRICKS,MN561360086 		41-6005227 GOVERNMENT 15,500 0     HENDRICKS FIRE DEPARTMENT
(15) CITY OF HUTCHINSON
111 HASSAN ST SE
HUTCHINSON,MN553502522 		41-6005253 GOVERNMENT 9,500 0     AFS - TALL, FRIEND OLD FRIEND SCULPTURE RESTORATION
(16) CITY OF IVANHOE
PO BOX 54
IVANHOE,MN561420054 		41-6005261 GOVERNMENT 16,000 0     POOL SLIDE
(17) CITY OF LISMORE
PO BOX 188
LISMORE,MN561550188 		41-6005319 GOVERNMENT 8,000 0     PARK BATHROOM UPDATE & BASEBALL FIELD FENCING
(18) CITY OF LITCHFIELD
126 N MARSHALL AVE
LITCHFIELD,MN553552110 		41-6005320 GOVERNMENT 152,042 0     LITCHFIELD AREA RECREATION CENTER
(19) CITY OF MARSHALL
344 W MAIN ST
MARSHALL,MN562581313 		41-6005351 GOVERNMENT 46,736 0     ADULT COMMUNITY CENTER/PHASE 1 EQUIPMENT UPGRADE
(20) CITY OF MORTON
PO BOX 127
MORTON,MN562700127 		41-1619901 GOVERNMENT 18,200 0     SKATE PARK - MORTON AREA COMMUNITY FDN ENDOWMENT
(21) CITY OF TYLER
PO BOX C
TYLER,MN561780452 		41-6005587 GOVERNMENT 89,305 0     TYLER WELCOME SIGN
(22) CITY OF WILLMAR
PO BOX 755
WILLMAR,MN562010755 		41-6005645 GOVERNMENT 16,000 0     WILLMAR WELCOMING WEEK AND VIDEO
(23) CITY OF WILMONT
PO BOX 76
WILMONT,MN561850076 		41-6005646 GOVERNMENT 6,000 0     STRUCTURAL FIRE FIGHTING GEAR
(24) CITY OF WINSTED
PO BOX 126
WINSTED,MN553950126 		41-6005652 GOVERNMENT 10,000 0     SENIORS ACTIVE IN WINSTED
(25) CITY OF WORTHINGTON
PO BOX 279
WORTHINGTON,MN561870279 		41-6005656 GOVERNMENT 8,000 0     BUILDING RELATIONSHIPS: CREATING ART WITH THE YOUNG AND YOUNG AT HEART
(26) COMMON CUP MINISTRY
105 2ND AVE SW STE 2
HUTCHINSON,MN553502470 		27-0012506 501(C)(3) 6,500 0     COMMON CUP MINISTRY CHILDREN'S PROGRAMS
(27) DEPARTMENT OF PUBLIC TRANSFORMATION
PO BOX 163
GRANITE FALLS,MN562410163 		83-0770235 501(C)(3) 255,000 0     YES! HOUSE CAPITAL CAMPAIGN
(28) ELKS LODGE NUMBER 2287 INC
1105 2ND AVE
WORTHINGTON,MN561872910 		41-0874339 501(C)(3) 30,000 0     WORTHINGTON ELKS LODGE - MSERP
(29) FOUNDATION FOR INNOVATION IN EDUCATION
1420 E COLLEGE DR
MARSHALL,MN562582065 		82-4640555 501(C)(3) 12,000 0     59 CORRIDOR CREATING ENTREPRENEURIAL OPPORTUNITIES (CEO)
(30) FRIENDS OF THE ORCHESTRA LTD
803 CHERYL AVE
MARSHALL,MN562582117 		41-1799541 501(C)(3) 5,830 0     FISCAL YEAR 2024 DISBURSEMENT
(31) GLENCOE REGIONAL HEALTH SERVICES FOUNDATION
1805 HENNEPIN AVE N
GLENCOE,MN553361416 		41-1625505 501(C)(3) 20,500 0     ANIMAL ASSISTED ACTIVITY PROGRAM
(32) GRANITE FALLS LIVING AT HOMEBLOCK NURSING
PO BOX 84
GRANITE FALLS,MN562410084 		41-1971745 501(C)(3) 6,800 0     MARKETING MATERIAL DEVELOPMENT
(33) GREATER MILAN INITIATIVE
PO BOX 128
MILAN,MN562620128 		26-0774267 501(C)(3) 10,000 0     THE CIRCLE CAFE - PAUL AND ALMA SCHWAN AGING TRUST FUND ENDOWMENT ATF
(34) HANCOCK CHRISTIAN REFORMED CHURCH
956 5TH ST
HANCOCK,MN562449770 		41-1478362 RELIGIOUS INSTITUTIO 7,200 0     MISSION SUPPORT - DARYL AND NANCY DOSDALL ADVISED FUND NE
(35) HEART OF MINNESOTA ANIMAL SHELTER
PO BOX 175
HUTCHINSON,MN553500175 		41-1933351 501(C)(3) 6,000 0     PHASE 2 OF DOG BUILDING CONSTRUCTION PROJECT
(36) HENDRICKS COMMUNITY FOUNDATION
PO BOX 86
HENDRICKS,MN561360086 		33-1067345 501(C)(3) 10,000 0     VETERAN'S MEMORIAL PARK - BLAZING STAR COMMUNITY ADVISED FUND NE
(37) HENDRICKS COMMUNITY HOSPITAL ASSN & RETIREMENT HOME
PO BOX 106
HENDRICKS,MN561360106 		41-0307617 501(C)(3) 9,200 0     TRAINING SUPPORT
(38) HUTCHINSON AREA COMMUNITY FOUNDATION
2 MAIN ST S
HUTCHINSON,MN553502505 		41-1938474 501(C)(3) 24,041 0     BOHEMIAN NATIONAL CEMETERY
(39) IMMIGRANT LAW CENTER OF MINNESOTA
450 SYNDICATE ST N STE 200
SAINT PAUL,MN551044105 		41-0909036 501(C)(3) 7,000 0     IMMIGRATION SERVICES IN SW MN
(40) ISD #173 - MOUNTAIN LAKE
PO BOX 400
MOUNTAIN LAKE,MN561590400 		41-6000682 EDUCATION 5,500 0     SKATING TO A HEALTHY FUTURE
(41) ISD #177 - WINDOM
PO BOX 177
WINDOM,MN561010177 		41-6000680 EDUCATION 7,505 0     GENERATION GENIUS SCIENCE & MATH
(42) ISD #2159 - BUFFALO LAKE-HECTOR-STEWART
PO BOX 307
HECTOR,MN553420307 		41-1751593 EDUCATION 18,617 0     2024 TEACHER GRANT REQUESTS
(43) ISD #2180 - MACCRAY
PO BOX 690
CLARA CITY,MN562220690 		41-1783004 EDUCATION 10,550 0     2024 TEACHER GRANT REQUEST
(44) ISD #2190 - YELLOW MEDICINE EAST
450 9TH AVE
GRANITE FALLS,MN562411399 		41-6004911 EDUCATION 8,950 0     KEYS TO SUCCESS - 4TH GRADE PIANO PROJECT
(45) ISD #2534 - BOLD SCHOOLS
701 9TH ST S
OLIVIA,MN562771572 		41-1719361 EDUCATION 13,990 0     LIGHTING FOR THE BOLD MUSICAL PROGRAM
(46) ISD #2853 - LAC QUI PARLE VALLEY
2860 291ST AVE
MADISON,MN562563296 		41-1837788 EDUCATION 17,454 0     HOLIDAY MOVIE AT THE GRAND THEATER
(47) ISD #2890 - RENVILLE COUNTY WEST SCHOOLS
PO BOX 338
RENVILLE,MN562840338 		41-1813675 EDUCATION 7,560 0     2023-24 SCHOOL PROJECTS
(48) ISD #2895 - JACKSON COUNTY CENTRAL
PO BOX 119
JACKSON,MN561430119 		41-1872029 EDUCATION 32,695 0     SPECIAL EDUCATION GRANT & JCC FFA ALUMNI
(49) ISD #2898 - WESTBROOK WALNUT GROVE SCHOOLS
PO BOX 129
WESTBROOK,MN561830129 		41-6000705 EDUCATION 9,750 0     PLUM CREEK PARK BALLFIELD IMPROVEMENTS
(50) ISD #2902 - RUSSELL TYLER RUTHTON PUBLIC SCHOOLS
PO BOX 659
TYLER,MN561780659 		20-4928015 EDUCATION 13,670 0     BBQ GRILL
(51) ISD #2904 - TRACY AREA SCHOOLS
394 PINE ST
TRACY,MN56175 		41-6002013 EDUCATION 10,400 0     PRESCHOOL PLAYGROUND
(52) ISD #330 - HERON LAKE-OKABENA SCHOOLS
321 STEARNS AVE
HERON LAKE,MN561374061 		41-1330168 EDUCATION 6,980 0     HERON LAKE-OKABENA ELEMENTARY LIBRARY
(53) ISD #423 - HUTCHINSON
30 GLEN ST NW
HUTCHINSON,MN553501618 		41-6002222 EDUCATION 9,028 0     SOLAR-POWERED ELECTRIC FENCING
(54) ISD #465 - LITCHFIELD SCHOOL
114 N HOLCOMBE AVE STE 110
LITCHFIELD,MN553552345 		41-6002290 EDUCATION 29,099 0     2024 HIGH SCHOOL THEATRE AND DANCE WORKSHOP AT MINNESOTA STATE UNIVERSITY MANKATO
(55) ISD #518 - WORTHINGTON
1117 MARINE AVE
WORTHINGTON,MN561871610 		41-6008522 EDUCATION 18,560 0     READINESS PROGRAM
(56) ISD #777 - BENSON PUBLIC SCHOOLS
1400 MONTANA AVE
BENSON,MN562151246 		41-6004181 EDUCATION 8,000 0     ESPORTS LAB - ROBERT SONSTENG MEMORIAL ENDOWMENT
(57) JACKSON SNOW ANGELS
315 RIVER ST
JACKSON,MN561431128 		85-4397375 501(C)(3) 15,122 0     JACKSON SNOW ANGELS TRACTOR
(58) JOHNSON MEMORIAL FOUNDATION
1282 WALNUT ST
DAWSON,MN562322333 		41-1678372 501(C)(3) 20,883 0     FISCAL FISCAL YEAR 2024 DISBURSEMENT
(59) LINCOLN COUNTY HISTORICAL SOCIETY INC
PO BOX 211
HENDRICKS,MN561360211 		41-1711763 501(C)(3) 8,000 0     BUILDING UPGRADE
(60) LUTHERAN SOCIAL SERVICE OF MINNESOTA
2485 COMO AVE
SAINT PAUL,MN551081445 		41-0872993 501(C)(3) 19,000 0     NOBLES COUNTY NUTRITIOUS MEALS FOR LOW-INCOME OLDER ADULTS
(61) MADISON ART AND INNOVATION CENTER
601 1ST ST W
MADISON,MN562561319 		92-2518138 501(C)(3) 20,000 0     COMMUNITY CARES PROGRAM
(62) MADISON ART GALLERY
521 2ND AVE
MADISON,MN562561526 		86-2300115 501(C)(3) 5,250 0     DIGITAL LITERACY LAB - PAUL AND ALMA SCHWAN AGING TRUST FUND ENDOWMENT ATF
(63) MAKOCE IKIKCUPI
PO BOX 21
GRANITE FALLS,MN562410021 		47-4008717 501(C)(3) 15,000 0     MISSION SUPPORT
(64) MCLEOD COUNTY
520 CHANDLER AVE N
GLENCOE,MN553362823 		41-6005841 GOVERNMENT 12,000 0     UNIVERSAL CONTACT
(65) MINI SOTA AGRICULTURAL CHILDREN'S MUSEUM
PO BOX 75
BENSON,MN562150075 		92-1619710 501(C)(3) 17,000 0     CAPITAL PROJECT
(66) MINNESOTA RIVER AREA AGENCY ON AGING INC
201 N BROAD ST STE 102
MANKATO,MN560013569 		26-1632413 501(C)(3) 105,450 0     AGE FRIENDLY COMMUNITY BUILDING PROJECT
(67) MOUNTAIN LAKE CHRISTIAN SCHOOL
PO BOX 478
MOUNTAIN LAKE,MN561590478 		41-0783500 501(C)(3) 9,000 0     SCHOOL SAFETY UPGRADES-PHASE 1
(68) NELSAN-HORTON POST #104 OF THE AMERICAN LEGION DEPARTMENT OF MINNESOTA
PO BOX 96
LITCHFIELD,MN553550096 		41-0668419 501(C)(3) 34,519 0     MSERP - LITCHFIELD AMERICAN LEGION
(69) NOBLES COUNTY HISTORICAL SOCIETY INC
PO BOX 416
WORTHINGTON,MN561870416 		41-6029584 501(C)(3) 11,500 0     HISTORY ON DISPLAY
(70) OUR LADY OF THE LAKES
6680 153RD AVE NE
SPICER,MN562889663 		41-1308081 RELIGIOUS INSTITUTIO 14,500 0     MISSION SUPPORT
(71) PET IA-LEIGHTON
100 KIRKWOOD ST
PELLA,IA502191374 		45-1837281 501(C)(3) 10,000 0     MOBILITY WORLDWIDE - MISSION SUPPORT
(72) PIPESTONE SENIOR CITIZENS CENTER
PO BOX 291
PIPESTONE,MN561640291 		41-1470351 501(C)(3) 428,602 0     SCHROEDER SENIOR CENTER AND FOOD SHELF BUILDING
(73) PRAIRIE FIVE COMMUNITY ACTION COUNCIL INCORPORATED
PO BOX 159
MONTEVIDEO,MN562650159 		41-0904802 501(C)(3) 5,050 0     BENSON/SWIFT COUNTY FOOD SHELF - FREEZER REPLACEMENT
(74) PRAIRIE HOME HOSPICE AND COMMUNITY CARE
1108 E COLLEGE DR
MARSHALL,MN562581902 		41-1494079 501(C)(3) 10,311 0     FISCAL YEAR 2023 DISBURSEMENTS - PRAIRIE HOME HOSPICE MARSHALL
(75) PRESBYTERIAN HOMES AND SERVICES
2845 HAMLINE AVE N
ROSEVILLE,MN551131888 		41-0758756 501(C)(3) 7,100 0     HUTCHINSON HOSPICE - HUTCHINSON HOSPICE ENDOWMENT
(76) REBUILDING TOGETHER-TWIN CITIES
PO BOX 266
WINDOM,MN561010266 		41-1893180 501(C)(3) 6,500 0     COTTONWOOD COUNTY REBUILDING DAY
(77) ROCK HAVEN CHURCH
1858 HIGHWAY 212 W
GRANITE FALLS,MN562411614 		20-2420331 RELIGIOUS INSTITUTIO 29,534 0     MSERP - ROCK HAVEN CHURCH
(78) SAINT JOHN'S SCHOOL OF THEOLOGY AND SEMINARY
PO BOX 5866
COLLEGEVILLE,MN563215866 		45-3656162 RELIGIOUS INSTITUTIO 15,000 0     PREPARING FOR A LIFE OF FAITH SERVICE
(79) SOUTH DAKOTA STATE UNIVERSITY
SAD 136 BOX 2201
BROOKINGS,SD57007 		46-0273801 EDUCATION 13,000 0     BERNICE HALVORSON EDUCATION SCHOLARSHIP
(80) SOUTHWEST MINNESOTA PRIVATE INDUSTRY COUNCIL INC
607 W MAIN ST
MARSHALL,MN562583169 		41-1487964 501(C)(3) 18,465 0     MSERP - SWMNPIC
(81) ST JAMES EPISCOPAL CHURCH
101 N 5TH ST
MARSHALL,MN562581303 		41-6098516 RELIGIOUS INSTITUTIO 14,631 0     FISCAL YEAR 2024 DISBURSEMENT
(82) ST JOHNS PREPARATORY SCHOOL
PO BOX 4000
COLLEGEVILLE,MN563214000 		41-0693973 RELIGIOUS INSTITUTIO 10,000 0     TUITION ASSISTANCE
(83) ST MARY'S SCHOOL WORTHINGTON
1206 8TH AVE
WORTHINGTON,MN561872220 		41-1539377 501(C)(3) 5,744 0     FISCAL YEAR 2024 DISBURSEMENT
(84) SWIFT COUNTY HISTORICAL SOCIETY
2135 MINNESOTA AVE BLDG 2
BENSON,MN562152101 		41-0856396 501(C)(3) 10,000 0     1871 DISTRICT #6 SCHOOL HOUSE EDUCATIONAL PROJECT
(85) TEUBY CONTINUED
PO BOX 24
GLENCOE,MN553360024 		84-2398238 501(C)(3) 7,500 0     TEEN MENTAL HEALTH FIRST AID TRAINING
(86) THE PAGES OF OUR COMMUNITIES FOUNDATION
2 GOLF DR
OLIVIA,MN562771446 		85-2677924 501(C)(3) 11,600 0     2023 RENVILLE COUNTY WALK IN THE PARK
(87) THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF WORTHINGTON MINNESOTA
1501 COLLEGEWAY
WORTHINGTON,MN561873028 		41-6007569 501(C)(3) 9,732 0     FISCAL YEAR 2024 DISBURSEMENT
(88) UNITED COMMUNITY ACTION PARTNERSHIP INC
1400 S SARATOGA ST
MARSHALL,MN562583114 		41-0904860 501(C)(3) 7,000 0     MEEKER WELCOME HOME BASKETS
(89) UNITED METHODIST CHURCH OF MONTEVIDEO
731 N 11TH ST
MONTEVIDEO,MN562651626 		41-1463080 RELIGIOUS INSTITUTIO 20,000 0     MISSION SUPPORT
(90) UNITED WAY OF WEST CENTRAL MINNESOTA
PO BOX 895
WILLMAR,MN562010895 		41-0844871 501(C)(3) 9,900 0     MISSION SUPPORT
(91) WALLIN EDUCATION PARTNERS
451 LEXINGTON PKWY N STE 100
SAINT PAUL,MN551044637 		20-8505156 501(C)(3) 134,201 0     FY24 YELLOW MEDICINE EAST SCHOLARSHIPS
(92) WILLMAR AREA COMMUNITY FOUNDATION
1601 HIGHWAY 12 E STE 9
WILLMAR,MN562015817 		36-3412544 501(C)(3) 11,500 0     MISSION SUPPORT
(93) WOLF RIDGE ENVIRONMENTAL LEARNING CENTER
6282 CRANBERRY RD
FINLAND,MN556039727 		41-1251705 501(C)(3) 10,000 0     MISSION SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
68
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
25
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2023

Schedule I (Form 990) 2023
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1) MSERP INDIVIDUALS 4 112,517      
(2) OTHERS   2,228,289      
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
PART I, LINE 2: THE GRANTS MANAGEMENT FUNCTION OF THE DATABASE IS THE REPOSITORY FOR ALL RECORDS RELATED TO GRANTS MADE AND/OR ASSISTANCE PROVIDED. SWIF CONDUCTS RESEARCH TO VERIFY THE ELIGIBILITY OF ALL GRANTEES, USING RESOURCES SUCH AS GUIDESTAR AND THE IRS PUBLICATION 78. EACH ADVISED FUND COMMITTEE MUST SUBMIT A ROSTER OF THEIR ADVISORS FOR BOARD REVIEW AND APPROVAL ANNUALLY, AND CRITERIA FOR THEIR GRANT IS REVIEWED TO ENSURE COMPLIANCE WITH ALL STATE AND FEDERAL REGULATIONS AND MEETS THE REQUIRED CHARITABLE PURPOSE OF THE FUND AGREEMENTS IN PLACE.
Schedule I (Form 990) 2023



Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2023

Schedule J (Form 990) 2023
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1SCOTT MARQUARDT
PRESIDENT 		(i)

(ii)		 145,367
-------------
0 		286
-------------
0 		1,358
-------------
0 		7,841
-------------
0 		20,400
-------------
0 		175,252
-------------
0 		0
-------------
0
Schedule J (Form 990) 2023

Schedule J (Form 990) 2023
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 3 THE EXECUTIVE COMMITTEE RECEIVES SOURCED DATA, INCLUDING 990'S FROM OTHER ORGANIZATIONS AND THE GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE. THIS DATA IS REFRESHED ANNUALLY, INCORPORATING A WAGE INFLATION INDICATOR PROVIDED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE. THE BOARD OVERSEES THE COMPENSATION OF THE PRESIDENT. TO ENSURE THAT WE REMAIN COMPETITIVE AMONG OUR EMPLOYEES, THE FOUNDATION CONTINUOUSLY MONITORS THE LABOR MARKET, CONDUCTING A COMPREHENSIVE MARKET REVIEW ANNUALLY, FACILITATED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE AND OVERSEEN BY THE PRESIDENT. PAY STRUCTURES (I.E., JOB VALUES) ARE EVALUATED AND ADJUSTED (AS APPROPRIATE) CONSISTENT WITH CHANGES IN THE LABOR MARKET WITHIN WHICH THE FOUNDATION COMPETES FOR TALENT AND WITH CONSIDERATION FOR OUR OVERALL BUDGET AND SUSTAINABILITY OVER TIME. INDIVIDUAL PAY ADJUSTMENTS ARE THEN MADE BASED UPON CHANGES IN THE LABOR MARKET FOR THEIR POSITION AND PERFORMANCE IN THE ROLE TO ENSURE RESULTING PAY IS COMPETITIVE AND EQUITABLE ACROSS THE FOUNDATION, PARTICULARLY FOR KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. ANNUALLY, THIS REVIEW INCORPORATES A WAGE INFLATION INDICATOR PROVIDED BY GALLAGHER HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE.
Schedule J (Form 990) 2023

Additional Data


Software ID:  
Software Version:  
SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large image Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large image Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 4 439,855 HI/LOW AVERAGE SALE
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
0
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2023)
Schedule M (Form 990) (2023)
Page 2
Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
Schedule M (Form 990) (2023)

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Return Reference Explanation
FORM 990, PART III, LINE 1, ORGANIZIATION'S MISSION SOUTHWEST INITIATIVE FOUNDATION (SWIF) IS A NONPROFIT COMMUNITY FOUNDATION CONNECTING PEOPLE, INVESTING IN IDEAS AND BUILDING COMMUNITIES TO CREATE A SOUTHWEST MINNESOTA WHERE ALL PEOPLE THRIVE. SINCE ITS FOUNDING IN 1986, SWIF HAS DISTRIBUTED MORE THAN $122 MILLION THROUGH ITS GRANTMAKING AND BUSINESS FINANCE PROGRAMS. A TALENTED TEAM OF STAFF AND DEDICATED BOARD MEMBERS WORK ALONGSIDE OUR PARTNERS, DONORS AND COMMUNITY LEADERS ON PROJECTS AND PROGRAMS THAT DIRECTLY SUPPORT OUR MISSION. FROM THE BEGINNING, WE HAVE FOCUSED ON SOCIAL AND ECONOMIC GROWTH IN SOUTHWEST MINNESOTA. THE 18 COUNTIES AND TWO NATIVE NATIONS WE CALL HOME ARE CONTINUOUSLY EVOLVING, AND SWIF HAS GROWN AND RESPONDED TO OUR REGION'S CHANGING NEEDS. THE FOUNDATION'S WORK CAN LOOK DIFFERENT FROM ONE PROGRAM, PARTNERSHIP OR PLACE TO ANOTHER. ITS ORGANIZATIONAL VALUES OF EQUITY, INTEGRITY, CURIOSITY, COLLABORATION AND OPTIMISM GUIDE THE WORK AND ENSURE STAFF BRING THE SAME CARE AND COMMITMENT TO EVERY INTERACTION. SWIF IS UNIQUELY POSITIONED TO PROVIDE REGIONAL LEADERSHIP, OFFERING A TRUSTED PERSPECTIVE THAT CAN UNITE EFFORTS AND LEADERS THROUGHOUT SOUTHWEST MINNESOTA. AS AN INDEPENDENT COMMUNITY FOUNDATION, SWIF CARRIES A LONG-TERM COMMITMENT TO THE REGION AND CAN LEVERAGE OUTSIDE FUNDING AND EXPERTISE. SWIF ALSO HAS A DEEP HISTORY OF BRINGING PEOPLE TOGETHER FROM ALL SECTORS TO EXPLORE AND IMPLEMENT LOCAL SOLUTIONS. SWIF'S ORIGINAL MISSION WAS TO STRENGTHEN SOUTHWEST MINNESOTA IN THREE WAYS: IMPROVING THE REGION'S ECONOMIC SELF-RELIANCE, OVERCOMING HUMAN DISTRESS AND PROMOTING REGIONAL LEADERSHIP, COORDINATION AND PARTNERSHIPS. THE FOUNDATION CONTINUES TO ADDRESS THESE BROAD AREAS AND SERVE AS A PARTNER THROUGH BUSINESS FINANCE AND ECONOMIC DEVELOPMENT, GRANTMAKING AND COMMUNITY PROGRAMMING, AND COMMUNITY GIVING AND PHILANTHROPY. THE LASTING OUTCOME OF THIS WORK IS ECONOMIC MOBILITY, FOR ALL PEOPLE IN SOUTHWEST MINNESOTA TO ATTAIN A REASONABLE STANDARD OF LIVING, EXPERIENCE THE DIGNITY THAT COMES FROM HAVING POWER AND AUTONOMY OVER THEIR LIVES AND BE ENGAGED IN AND VALUED BY THEIR COMMUNITY.
FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: WE PROVIDE GRANTS AND PROGRAMS TO CREATE OPPORTUNITIES FOR ALL PEOPLE TO THRIVE IN OUR LOCAL COMMUNITIES. OUR GRANTMAKING, PROACTIVE PROGRAMMING AND COMMUNITY-LED BELONGING ACTIVITIES HELP CREATE OPPORTUNITIES FOR ALL PEOPLE TO THRIVE IN THE COMMUNITIES THEY CALL HOME. THROUGH THESE EFFORTS, WE CAN LEAD INDIVIDUALS AND COMMUNITIES THROUGH GROWTH. SWIF HAS RELAUNCHED GROWING LOCAL: EMERGING LEADERS, AN EIGHT-MONTH TRAINING PROGRAM DESIGNED TO HELP UP AND COMING LEADERS DISCOVER AND BUILD UPON THEIR UNIQUE STRENGTHS SO THEY CAN MAKE A DIFFERENCE IN THEIR COMMUNITIES. THIS PROGRAM HELPS CULTIVATE A VITAL LEADERSHIP PIPELINE IN SOUTHWEST MINNESOTA, SUPPORTING BOARDS, COMMISSIONS AND COMMITTEES WITH LEADERS WHO REFLECT THE MAKE-UP OF COMMUNITIES. THE INITIAL COHORT GRADUATED 14 PARTICIPANTS, AND THIS YEAR'S COHORT INCLUDES 13 EMERGING LEADERS. SWIF COORDINATES WELCOMING WEEK EFFORTS ACROSS SOUTHWEST MINNESOTA RANGING FROM 6 TO 16 COMMUNITIES. THROUGH THIS, ORGANIZATIONS AND COMMUNITIES BRING TOGETHER NEIGHBORS OF ALL BACKGROUNDS TO BUILD STRONG CONNECTIONS AND AFFIRM THE IMPORTANCE OF WELCOMING AND INCLUSIVE PLACES IN ACHIEVING COLLECTIVE PROSPERITY. SWIF PROVIDES FUNDING AND SUPPORT FOR WELCOMING WEEK CELEBRATIONS IN COMMUNITIES ACROSS OUR REGION AS PART OF OUR MEMBERSHIP IN WELCOMING AMERICA, THE NATIONAL ORGANIZATION LEADING WELCOMING WEEK. THE WELCOMING AND INCLUSIVE COMMUNITIES PROJECT AT SWIF HELPS COMMUNITY MEMBERS BUILD RELATIONSHIPS AND LEARN INCLUSIVE COMMUNITY PRACTICES WHILE GROWING THEIR LOCAL NETWORK OF "WELCOMERS" WHO ARE PASSIONATE ABOUT INCLUDING EVERYONE. COMMUNITIES APPLY TO BE PART OF THE PROJECT AND THEN PARTICIPATE IN MONTHLY COHORT MEETINGS TO SHARE TOOLS, SKILLS AND STRATEGIES FOR WELCOMING AND INCLUSION. THE TEAM ALSO WORKS TO IMPROVE COMMUNITY WELLBEING BY SUPPORTING YOUTH AND FAMILIES AND IMPROVING MENTAL HEALTH RESOURCES AND AWARENESS. THIS INCLUDES BEING A PARTNER IN SUICIDE AWARENESS CAMPAIGNS, DE-ESCALATION TECHNIQUES AND CRISIS SUPPORT AND RESPONSE. STAFF HOSTED A FARM COUPLES RETREAT TO FOSTER MENTAL WELL-BEING AND STRONG RELATIONSHIPS. THE DAY INCLUDED PRACTICAL TOOLS AND STRATEGIES FOR COPING WITH STRESS AND BURNOUT. GRANTMAKING IS AT THE HEART OF OUR ROLE AS A COMMUNITY FOUNDATION. WE ACCEPT GRANT IDEAS ON AN ONGOING BASIS AS WELL AS PROVIDING DEFINED GRANT ROUNDS THROUGHOUT THE YEAR. WE ALSO SERVE AS A PHILANTHROPIC INTERMEDIARY TO BRING ADDITIONAL GRANT DOLLARS INTO OUR REGION THROUGH PARTNER FOUNDATIONS. AN OPEN GRANT ROUND ATTRACTED PROJECTS AND PROGRAMS THAT SUPPORT A STRONG FOUNDATION FOR YOUTH TO DEVELOP ESSENTIAL SKILLS AND RESILIENCE, PRIORITIZE MENTAL WELLNESS, AND CREATE A SENSE OF BELONGING THROUGH COLLABORATIVE PROJECTS THAT BRING TOGETHER INDIVIDUALS FROM DIVERSE BACKGROUNDS. SWIF IS ONE OF 23 COMMUNITY FOUNDATIONS ACROSS A 10-STATE NETWORK PARTICIPATING IN A PHILANTHROPIC PREPAREDNESS, RESILIENCY AND EMERGENCY PARTNERSHIP. WE CONTINUE TO USE THE BEST PRACTICES LEARNED THROUGH THIS NETWORK IN DISASTER RESPONSE AND RECOVERY WORK WITHIN OUR REGION AS NEEDS ARISE. SWIF'S PAUL AND ALMA SCHWAN AGING TRUST ENDOWMENT FUND PROMOTES PRODUCTIVE AGING IN SOUTHWEST MINNESOTA. ESTABLISHED IN 1991, THIS IS A KEY EXAMPLE OF THE LEGACY AND IMPACT DONORS CAN MAKE THROUGH SWIF. IT CONTINUES TO FUND AGE-FRIENDLY COMMUNITIES WORK LAUNCHED IN 2016, IN PARTNERSHIP WITH THE MINNESOTA RIVER AREA AGENCY ON AGING, AND THE PRAIRIE FIVE COMMUNITY ACTION AGENCY. THIS FUND ALSO SUPPORTS A RESPONSIVE GRANT FUND FOR COMMUNITY PROJECTS THAT REDUCE SOCIAL ISOLATION AND LONELINESS FOR SENIOR CITIZENS IN SOUTHWEST MINNESOTA.
FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: SOUTHWEST INITIATIVE FOUNDATION'S COMMUNITY FOUNDATION PROGRAM ESTABLISHES A GEOGRAPHICALLY FOCUSED FUND, KNOWN AS AN AFFILIATE FOUNDATION. THROUGH A PARTNERSHIP THAT IS MUTUALLY BENEFICIAL, THE COMMUNITY FOUNDATION PROGRAM FUNCTIONS AS A WELL ESTABLISHED METHOD OF RETAINING CHARITABLE DOLLARS IN THE REGION AND USING THOSE DOLLARS TO SUPPORT COMMUNITY NEEDS AND OPPORTUNITIES. VOLUNTEER ADVISORY BOARDS DRIVE LOCAL MISSION, ACTIVITIES, AND IMPACT FOR SWIF'S 31 AFFILIATES. SWIF PROVIDES THE ADMINISTRATIVE, INVESTMENT AND 501(C)(3) INFRASTRUCTURE, AS WELL AS A SERIES OF "LAUNCH MEETINGS" TO PROVIDE BOARD TRAINING FOR NEW AFFILIATES. ADDITIONALLY, TECHNICAL AND PROFESSIONAL SUPPORT IN AREAS LIKE STRATEGIC PLANNING, FUNDRAISING, MARKETING, PUBLIC RELATIONS, AND GRANTMAKING ARE PROVIDED ON AN ONGOING BASIS FOR ALL PARTNERS. COMMUNITY FOUNDATION VOLUNTEERS ARE OFTEN WELL ESTABLISHED OR EMERGING COMMUNITY LEADERS, MAKING POSSIBLE PROJECTS LIKE PARK IMPROVEMENTS, SWIMMING POOLS, BACKPACK FOOD PROGRAMS, BAND INSTRUMENTS, STUDENT FIELD TRIPS AND SO MUCH MORE THROUGH ANNUAL GRANTMAKING AND SPECIAL INITIATIVES. SINCE THE COMMUNITY FOUNDATION PROGRAM STARTED IN 1999, NEARLY $10 MILLION HAS BEEN GRANTED TO SUPPORT COMMUNITY NEEDS AND OPPORTUNITIES. WE CURRENTLY HOLD MORE THAN 120 DESIGNATED FUNDS, INCLUDING DONOR-ADVISED FUNDS, EMPLOYEE HARDSHIP FUNDS, EDUCATION FOUNDATIONS, AGENCY ENDOWMENTS, FIELD-OF-INTEREST FUNDS AND SCHOLARSHIP FUNDS. DONOR-ADVISED FUNDS ALLOW AN INDIVIDUAL DONOR OR FAMILY TO PROVIDE INPUT REGARDING GRANT DISTRIBUTIONS. THESE FUNDS CAN BE ENDOWED OR NONENDOWED (PASSTHROUGH) AND ARE CREATED WITH A FAMILY'S GOALS AND LEGACY IN MIND. MANY DONORS FIND THAT SWIF DESIGNATED OR COMPONENT FUNDS ARE ATTRACTIVE OPTIONS TO SUPPORT THEIR CHARITABLE INTERESTS WHILE RELIEVING THEM OF THE ADMINISTRATIVE RESPONSIBILITIES THAT CAN OFTEN BECOME OVERWHELMING FOR FAMILIES AND VOLUNTEERS. ALL FUNDS UNDER THE SWIF UMBRELLA CAN RECEIVE MANY TYPES OF GIFTS, INCLUDING CASH, APPRECIATED SECURITES, REAL ESTATE, FARMLAND WHICH CAN STAY IN PRODUCTION THROUGH SWIF'S KEEP IT GROWING FARMLAND RETENTION PROGRAMAND PLANNED GIFTS, SUCH AS CHARITABLE GIFT ANNUITIES AND BEQUESTS. SWIF CAN CREATE A FUND THAT FULFILLS THE CHARITABLE GOALS OF A DONOR WHEN THE DONOR'S PRIMARY INTERESTS ARE WITHIN THE 18 COUNTY SERVICE AREA. SWIF FUNDS OFFER UNIQUE POTENTIAL TO KEEP SOUTHWEST MINNESOTA COMMUNITIES, SCHOOLS AND ORGANIZATIONS STRONG AND VIBRANT. THEY CONNECT COMMUNITY MINDED PEOPLE AND LOCAL NEEDS WITH THE RESOURCES NECESSARY FOR LONG LASTING IMPACT.
FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: SOUTHWEST INITIATIVE FOUNDATION PROVIDES FLEXIBLE AND INNOVATIVE ECONOMIC DEVELOPMENT FINANCE SOLUTIONS FOR BUSINESS RETENTION, EXPANSION, STARTUP AND OWNERSHIP SUCCESSION PROJECTS THROUGH ITS BUSINESS FINANCE PROGRAM AND ITS MICROENTERPRISE LOAN PROGRAM. ITS FINANCING PROGRAMS SUPPORT PROJECTS IN THE RETAIL, SERVICE, MANUFACTURING, CHILD CARE, HOSPITALITY, AND OTHER SECTORS, WITH A SPECIAL INTEREST IN SUPPORTING PROJECTS IN FOOD AND AGRICULTURE, MANUFACTURING, RENEWABLE ENERGY AND BIOSCIENCE. IN ADDITION, THE MICROENTERPRISE LOAN PROGRAM PROVIDES VALUABLE TECHNICAL ASSISTANCE FOR BORROWERS IN THE AREAS OF BUSINESS MANAGEMENT AND OPERATIONS, FINANCE AND ACCOUNTING, AND MARKETING. SWIF IS ESPECIALLY INTERESTED IN OPPORTUNITIES TO SUPPORT POPULATIONS WHO HAVE BEEN HISTORICALLY UNDERINVESTED IN BY THE MARKETPLACE INCLUDING WOMEN, BIPOC ENTREPRENEURS, VETERANS, PEOPLE WITH DISABILITIES, AND LOWINCOME PEOPLE. SWIF ALSO OPERATES THE INITIATE PROSPERITY WEBSITE (IN PARTNERSHIP WITH NORTHERN ECONOMIC INITIATIVES CORPORATION) WWW.INITIATEPROSPERITY.ORG WHICH PROVIDES COMPREHENSIVE TECHNICAL ASSISTANCE RESOURCES INCLUDING INTERACTIVE TOOLS, TEMPLATES, VIDEOS AND GUIDES. SWIF IS A LENDER FOR THE MINNESOTA EMERGING ENTREPRENEUR LOAN PROGRAM THROUGH THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT, IN ADDITION TO BEING A MICROLENDER THROUGH THE US SMALL BUSINESS ADMINISTRATION (SBA) AND A RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM LENDER THROUGH THE US DEPARTMENT OF AGRICULTURE (USDA). SWIF IS ALSO A GRANTOR FOR THE MINNESOTA MAIN STREET ECONOMIC REVITALIZATION PROGRAM, IN ADDITION TO BEING A PARTNER FOR THE ELEVATE COMMUNITY BUSINESS ACADEMY AS PART OF THE RISING TIDE CAPITAL NETWORK. CHILD CARE IS THE FASTEST GROWING ECONOMIC DEVELOPMENT ISSUE FACING OUR REGION. SWIF HAS DEVELOPED A MULTIFACETED RESPONSE FOCUSED ON FIVE ASPECTS: PROJECT INVESTMENT AND TECHNICAL ASSISTANCE, COMMUNITY PLANNING, PROFESSIONAL DEVELOPMENT, PUBLIC POLICY, AND PUBLIC RELATIONS. SWIF HAS SUPPORTED PROFESSIONAL DEVELOPMENT OF THE REGION'S ECONOMIC DEVELOPMENT PROFESSIONALS, IN ADDITION TO SPONSORING ECONOMIC DEVELOPMENT RELATED PROGRAMMING, EVENTS, AND RELATIONSHIP BUILDING OPPORTUNITIES. SWIF HAS ALSO SERVED AS A CONVENER, FACILITATOR, FUNDER, ADVOCATE, AND/OR PROGRAM ADMINISTRATOR FOR PROJECTS RELATED TO CAREER PATHWAYS AND CHILD CARE. OUR RURAL COMMUNITIES FACE UNIQUE CHALLENGES, AS WELL AS OPPORTUNITIES TO COLLABORATE AROUND THESE AND OTHER ISSUES. KEY ISSUES FACING OUR REGION'S ECONOMIC DEVELOPMENT INCLUDE CHILD CARE, HOUSING, AND BROADBAND.
FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE OFFICERS OF THE CORPORATION; CHAIRPERSON, VICE-CHAIRPERSON, SECRETARY, AND TREASURER AS WELL AS THE IMMEDIATE PAST CHAIRPERSON. THE EXECUTIVE COMMITTEE MAY ACT ON BEHALF OF THE BOARD TO REVIEW AND ACT UPON GRANTS AND LOANS, REVIEW AND ACT UPON POLICIES, REVIEW AND ACT UPON BUDGETARY VARIANCES, AND CONDUCT OTHER BUSINESS OF THE CORPORATION BETWEEN REGULARLY SCHEDULED BOARD MEETINGS. ALL ACTIONS OF THE EXECUTIVE COMMITTEE ARE REVIEWED BY THE FULL BOARD AND RATIFIED AT THE NEXT SCHEDULED FULL BOARD MEETING. FORM 990 PART VI SECTION A, LINE 2: BOARD MEMBERS DO NOT HAVE FAMILY OR BUSINESS RELATIONSHIPS WITH EACH OTHER. IF A RELATIONSHIP ARISES, IT MUST BE DISCLOSED AT THAT TIME. A CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED ANNUALLY, AND EACH BOARD MEETING HAS A STANDING AGENDA ITEM ASKING FOR DISCLOSURES AS WELL.
FORM 990, PART VI, SECTION B, LINE 11B THE IRS FORM 990 IS REVIEWED BY APPROPRIATE STAFF IN THE FOUNDATION AND THEN PRESENTED TO THE FINANCE AND AUDIT COMMITTEE FOR REVIEW AND RECOMMENDATION TO THE BOARD. THE FULL BOARD RECEIVES A COPY OF THE FORM ON THE BOARD PORTAL PRIOR TO VOTING ON THE RECOMMENDATION.
FORM 990, PART VI, SECTION B, LINE 12C AT THE COMMENCEMENT OF EACH FISCAL YEAR, ALL EMPLOYEES RECEIVE THE FOUNDATION'S CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE. ADDITIONALLY, SHOULD THEY ASSUME A POSITION ON A BOARD THAT COULD POTENTIALLY CONFLICT WITH THE POLICIES OUTLINED THEREIN, THEY ARE OBLIGATED TO UPDATE THE CONFLICTS OF INTEREST QUESTIONNAIRE.
FORM 990, PART VI, SECTION B, LINE 15 SOUTHWEST INITIATIVE FOUNDATION'S PRESIDENT COMPENSATION IS OVERSEEN AND ADMINISTERED BY THE EXECUTIVE COMMITTEE OF THE BOARD, WHICH IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING A COMPETITIVE COMPENSATION PROGRAM FOR THE PRESIDENT. THIS PROGRAM IS REVIEWED ANNUALLY, INCORPORATING A WAGE INFLATION INDICATOR PROVIDED BY GALLAGHER, AS APPROPRIATE, AND ADJUSTMENTS ARE MADE BASED ON CHANGES IN THE LABOR MARKET IN WHICH THE FOUNDATION COMPETES FOR TALENT, WHILE ALSO CONSIDERING THE FOUNDATION'S OVERALL BUDGET AND LONG-TERM SUSTAINABILITY. INDIVIDUAL PAY ADJUSTMENTS ARE DETERMINED BY CHANGES IN THE LABOR MARKET FOR THE POSITION AND PERFORMANCE IN THE ROLE TO ENSURE COMPENSATION REMAINS COMPETITIVE AND EQUITABLE. THE EXECUTIVE COMMITTEE WORKS WITH GALLAGHER'S HUMAN RESOURCES & COMPENSATION CONSULTING PRACTICE TO SOURCE DATA, INCLUDING 990S FROM COMPARABLE ORGANIZATIONS, AS NEEDED.
FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE PUBLIC.
FORM 990, PART XI, LINE 9: CHANGE IN AGENCY FUNDS -59,953. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 91,124. PROVISION FOR LOAN LOSSES 641,522.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2023


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
2023
Open to Public Inspection
Name of the organization
SOUTHWEST INITIATIVE FOUNDATION
 
Employer identification number

41-1555592
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) SWIF REAL ESTATE HOLDINGS LLC
15 3RD AVE NW
HUTCHINSON,MN55350
47-5210879 		REAL ESTATE MN 0 0 SOUTHWEST INITIATIVE FOUNDATION
 
(2) SOUTHWEST MINNESOTA COMMUNITY CAPITAL
15 3RD AVE NW
HUTCHINSON,MN55350
99-3502057 		LENDING MN 0 10,003 SOUTHWEST INITIATIVE FOUNDATION
 








Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No












For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No












Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
 
b Gift, grant, or capital contribution to related organization(s) ............................
1b
 
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
 
e Loans or loan guarantees by related organization(s) ............................
1e
 
 
f Dividends from related organization(s) ............................
1f
 
 
g Sale of assets to related organization(s) ............................
1g
 
 
h Purchase of assets from related organization(s) ............................
1h
 
 
i Exchange of assets with related organization(s) ............................
1i
 
 
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
 
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
 
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
 
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
 
o Sharing of paid employees with related organization(s) ............................
1o
 
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
 
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
 
r Other transfer of cash or property to related organization(s) ............................
1r
 
 
s Other transfer of cash or property from related organization(s) ............................
1s
 
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved





Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2023
Schedule R (Form 990) 2023
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) 2023

Additional Data


Software ID:  
Software Version: