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Initiative Foundation tells Morrison County commissioners its impact and confirms CDFI certification
Summary
Carl Newbanks of the Initiative Foundation updated the board on grants, revolving loans and local programs, reporting that the foundation's Impact Fund has secured CDFI certification and that, since 1986, the foundation has directed millions to the region and Morrison County.
Carl Newbanks, vice president of philanthropy for the Initiative Foundation, briefed the Morrison County Board about the foundation's local activity and regional programs.
Newbanks highlighted long-term totals on the county fact sheet: charitable grants and scholarships distributed since 1986, revolving-loan activity and new partner funds doing work in Morrison County. He said the foundation's Impact Fund has recently been certified as a Community Development Financial Institution, restoring the organization's ability to access certain federal resources for lending.
He described recent activity in Morrison County: approximately seven active loans and about $1,000,000 in lending in 2025—2026, more than 95 grants into the region totaling a little over $500,000 in 2025, training through the nonprofit academy (39 participants from Morrison County in 2025) and disaster-philanthropy work to strengthen local emergency operations planning. Newbanks said the foundation functions increasingly as an intermediary for larger funders and leverages outside capital back into Central Minnesota.
Commissioners asked about nonprofit-academy costs and timelines; Newbanks said trainings are generally free or very low cost and urged nonprofits to subscribe to the foundation's newsletter for schedules and registration information. The board thanked the presenter for the briefing and for the foundation's partnership in local grant and loan activity.
The presentation concluded with an invitation to regional events the foundation plans as part of its 40th-anniversary celebration.
