Greater Mankato Growth

Greater Mankato Growth Nonprofit Engagement Fund

February 12, 2021September 21, 2021 by Greater Mankato Growth, posted in Business Development, Community Events, Marketing & Communications, Membership

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Greater Mankato Growth has partnered with Mayo Clinic Health System to offer Greater Mankato Growth’s Nonprofit Engagement Fund for memberships, programs, and events. This partnership was established to ensure nonprofit organizations and their staff can take advantage of the many benefits offered through Greater Mankato Growth. The partnership recognizes that nonprofit organizations throughout Greater Mankato are a steady source of economic growth for our region as well as a key partner in providing vital services, employing residents, and improving the quality of life.

“Nonprofit organizations provide vital services that impact the health and wellness of our employees, patients and community members. We are excited to be the sponsor for Greater Mankato Growth’s nonprofit scholarship fund which will enable leaders from this sector to participate in various GMG opportunities,” Dr. James Hebl, Regional Vice President, Mayo Clinic Health System, Southwest Minnesota

Nonprofit Membership Rate:

Nonprofits are now eligible to pay the Basic Level pricing at $330 and receive the benefits of the Engaged Level (typical pricing at $770). To be considered, nonprofit organizations must meet one of the following criteria:

• Have an annual budget or gross revenue of $400,000 or less;

• Be able to prove financial hardship with detrimental impact to the local community. This information must be included in the application narrative.

Engagement Funds for Events and Programming:

Through the Greater Mankato Growth Engagement Fund, Greater Mankato Growth (GMG) will offer
partial funding toward Greater Mankato Growth events and programming, which includes but is not limited to:

• Professional Development;
• GMG Talent Programs (including but not limited to Leadership Institute, Young Professionals,
Navigators, and Executive Sounding Board);
• Volunteer Groups, such as Ambassadors and Cavaliers;
• Events (including Business After Hours, Business Awards & Hall of Fame, Annual Meeting, and
other connecting events).

TO APPLY FOR THE NONPROFIT RATE OR ENGAGEMENT FUNDS PLEASE EMAIL A ONE PARAGRAPH
REQUEST TO INFO@GREATERMANKATO.COM or learn more details here:

New Business Focus, First National Bank Minnesota Featuring Mike Bresnahan and Eric Peters

February 9, 2021 by Greater Mankato Growth, posted in Business Development, Feature, Marketing & Communications, Membership, News and Media, Photos and Videos

First National Bank Minnesota is a full-service financial institution headquartered in St. Peter, Minnesota, with banking offices in Mankato, St. Peter, Gaylord, and Belle Plaine. Our primary geographic market covers a large area in south central Minnesota, including Nicollet, Blue Earth, LeSueur, Scott, Carver, and Sibley counties.

Continue reading “New Business Focus, First National Bank Minnesota Featuring Mike Bresnahan and Eric Peters” →

Accountability at Your Business through Traction

February 8, 2021February 8, 2021 by Greater Mankato Growth, posted in Business Development, Business Insights & Inspirations

Over the last several months, businesses have been impacted by COVID-19 in many ways. Some industries have been impacted more severely than others. Across the board, businesses have had to act and adjust like never before. Joe Paulsen with Pinnacle Business Traction would like to help you with ensuring that your company has the Traction it needs to overcome current and future challenges.The following is part six of a guest blog series where Joe will share tips on how you can gain traction in difficult times.

Discipline and accountability will give your company the Traction it needs to survive or thrive in any environment. This is especially essential when navigating challenging times. You need to have the discipline of meeting regularly with your leadership team, reviewing and analyzing your scorecard metrics each week, reviewing your past quarter’s performance and forecasting your next quarter while learning from your past successes and mistakes. Accountability comes from helping and holding each team member responsible for their commitments, metrics and tasks. This will provide your organization the Traction necessary to be the best you can be allowing you to get everything you want from your business.

Joe Paulsen (Meet Joe) and Pinnacle Business Traction’s passion is to Enrich the Lives of Entrepreneurs and Business Leaders in the Mankato area. He has been implementing EOS since 2016 and has helped over 35 entrepreneurial organizations get everything they want from their organizations. Please reach out to him if you are wanting more information or assistance. joe@pbtraction.com

GMG is offering the best-selling book Traction – Get a Grip on Your Business to members wanting to learn more about the Entrepreneurial Operating System. Please email jsprague@greatermankato.com to schedule a time to pick-up your free copy at the GMG office.

Does your Business have a Scorecard?

January 25, 2021January 25, 2021 by Greater Mankato Growth, posted in Business Development, Business Insights & Inspirations

Over the last several months, businesses have been impacted by COVID-19 in many ways. Some industries have been impacted more severely than others. Across the board, businesses have had to act and adjust like never before. Joe Paulsen with Pinnacle Business Traction would like to help you with ensuring that your company has the Traction it needs to overcome current and future challenges.The following is part four of a guest blog series where Joe will share tips on how you can gain traction in difficult times.

How do you know if you had a good week, are having a good month, are tracking to the quarter or year? More importantly, how do your employees know if they had a good day or week? We are all wired to deliver expectations we understand and agree with. Having a clear and concise Scorecard will provide your employees and you with a pulse on how they are performing and when they have issues that need to be solved. This is helpful when employees are working in the office and it is even more helpful when they are working remotely. A great Scorecard will efficiently point out the critical issues your organization must address to keep the organization on track to deliver the weekly, monthly, quarterly and annual results you expect.

GMG is also offering the best-selling book Traction to members wanting to learn more about the Entrepreneurial Operating System. Please contact jsprague@greatermankato.com to schedule a time to pick-up your free copy at the GMG office.

A New Year – A New Plan for MRCI

January 22, 2021January 22, 2021 by Greater Mankato Growth, posted in Business Development

The following is a guest blog post from MRCI. MRCI welcomes 2021 with exciting new programming based in the community.

MRCI made the decision to move its employment and life enrichment programs entirely to the community. It was originally a five-year plan but COVID pushed up the timeline.

To make the plan happen MRCI has closed buildings in Chaska, Shakopee, Rosemount, Fairmont and New Ulm, and consolidated two buildings into one for its Mankato headquarters. The concept has been discussed for several years, but COVID-19 nudged the organization to move from concept to reality. The change impacts about 1,400 program participants.

Continue reading “A New Year – A New Plan for MRCI” →

Local Programming Ensures 200 Youth Continue to be Supported

January 22, 2021 by Greater Mankato Growth, posted in Business Development

Learn more about the YMCA’s Mentoring Programs through this guest blog post from Allison Braswell, Brother/Sister Program Advocate and Recruitment Coordinator. As we reach out to serve the greater community during the pandemic, our continued efforts are bringing comfort and stability to our youth. The “not to be forgotten” story, tells how the mentoring program ensured that over 200 youth in our community were still cared for. Even though the early stay at home order suspended the in-person mentor/mentee weekly match meetings, we successfully found a solution, so mentors were still contacting their mentees to let them know they were not forgotten.

There are many issues in our community that the YMCA is addressing as a socially responsible organization; however, without mentor volunteers we stand a chance of not supporting the youth in our community who need it most. We need your help to keep the Brother/Sister and School-Based mentoring programs strong. Our intention is to meet every commitment and provide the youth in our community with the qualified quality mentors. Your support is key in solving this problem.

Continue reading “Local Programming Ensures 200 Youth Continue to be Supported” →

Applications Being Accepted for Blue Earth County’s Business Assistance Grant Program

January 19, 2021January 19, 2021 by Greater Mankato Growth, posted in Business Development

Greater Mankato Growth encourages Blue Earth County businesses to review the recently approved Blue Earth County Business Assistance Grant Program. The funds have been allocated to Blue Earth County from a COVID relief package by the State of Minnesota.

Eligible business owners may apply for a one-time grant to cover operational expenses. Operational expenses may include, but are not limited to, insurance costs, legal fees, payroll, rent, utilities, property taxes, marketing/advertising, licensing fees, accounting fees, routine maintenance, travel/vehicle expenses, office supplies, repairs to existing building and equipment. Grant awards will be based on business type and employee count. Businesses must be able to demonstrate they were adversely affected by Executive Orders related to COVID-19.

Full Details on the Grant Program & eligibility can be found on the Blue Earth County Website

Continue reading “Applications Being Accepted for Blue Earth County’s Business Assistance Grant Program” →

Does Your Business Have the Right People in the Right Seats?

January 18, 2021 by Greater Mankato Growth, posted in Business Development, Business Insights & Inspirations, Talent Development

Over the last several months, businesses have been impacted by COVID-19 in many ways. Some industries have been impacted more severely than others. Across the board, businesses have had to act and adjust like never before. Joe Paulsen with Pinnacle Business Traction would like to help you with ensuring that your company has the Traction it needs to overcome current and future challenges.The following is part three of a guest blog series where Joe will share tips on how you can gain traction in difficult times.

As Jim Collins and his research team found and explained in Good to Great, successful companies have “Right People” on their bus and they are all in the “Right Seats”. I think all of us can agree with this concept, but when the labor market is tight, it is tempting to tolerate employees that truly don’t share our Core Values or can’t adequately perform the requirements of the job. Fear of losing an employee and the prospect of having to recruit and train his/her replacement often stops leaders from having the important conversations to lay out their expectations and explain how that employee is not meeting those expectations.

I estimate that when you clearly articulate your expectations and show your difficult employees where they are falling short, 80% of the time those employees will modify their behaviors and actions to meet your expectations. However 20% will not and that means they need to leave the company. So there is a risk in confronting problem employees, but the odds are clearly in your favor when you take action! Also consider the message you are sending to your good employees. If they sense that you won’t ever take action on employees that are bringing them down, they will likely be the ones that will leave your company and that is a cost you can’t afford!

GMG is offering the best-selling book Traction – Get a Grip on Your Business to members wanting to learn more about the Entrepreneurial Operating System. Please email jsprague@greatermankato.com to schedule a time to pick-up your free copy at the GMG office.

Expanded Opportunities for PPP and the Employee Retention Credit

January 15, 2021 by Greater Mankato Growth, posted in Business Development, Business Insights & Inspirations, Public Affairs

The following blog post was contributed by Abdo, Eick & Meyers, LLP to assist businesses in understanding how recent federal legislation has changed criteria related to the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC).

The COVID Tax Relief Act (COVIDTRA) that was passed late December made drastic changes to the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC) for both 2020 and 2021. The most critical changes for eligible employers include:

Qualifying expenses paid with PPP funds are now deductible for federal income tax purposes, however, we are still waiting on guidance from most state legislatures regarding state deductibility. This change officially means that PPP loans and their forgiveness will not be subject to federal income tax.
Employers may now be eligible for the Employee Retention Credit (ERC). Previously, organizations which received a PPP loan were ineligible to claim the ERC. That requirement has been removed and the credit has been extended through the first six months of 2021. To employers that are eligible, the ERC may provide up to a $7,000 per employee tax credit per quarter.
The SBA announced they will begin accepting applications for new PPP loans from limited borrowers beginning January 15, 2021. Minority and women-owned businesses will be able to borrow first-time PPP loans initially, followed by minority and women-owned businesses requesting a second-time loan.

The COVIDTRA legislation is good news for many employers. There are several critical planning considerations to discuss with your tax advisor to maximize your credit eligibility and avoid missing out on significant funding. Key decisions that should be discussed include:

Applying for a first-time or second-time PPP loan.
Applying for 1^st round PPP loan forgiveness if your organization experienced a partial or complete operational shutdown or a significant reduction in 2020 gross receipts.
Electing to take the Employee Retention Credit for 2020 or 2021.

There are still many unanswered questions about the PPP and ERC that we expect to receive further guidance on from the IRS in the coming weeks. Additionally, are a few strategies to consider when determining if PPP, ERC or both are right for your specific situation. Be sure to contact your tax advisor to discuss your organization’s relief options and ensure that you don’t miss significant tax credits and funding opportunities.

About Abdo, Eick & Meyers, LLP

Abdo, Eick & Meyers is a progressive CPA firm that leverages its “People + Process” by partnering with businesses to increase value, helping government audit clients operate more efficiently, and providing the very best in tax planning and preparation services. Established in 1963 in Mankato, Minnesota, the firm has evolved into a mid-sized leader in the regional accounting industry through a combination of steady organic growth and key mergers and acquisitions. Since its earliest days, the firm has carefully listened to its clients and then developed new areas of expertise and service lines to meet their needs. Learn more at www.aemcpas.com.

New: Nicollet County Business Relief Grant Program

January 15, 2021January 15, 2021 by Greater Mankato Growth, posted in Business Development, Public Affairs

The Minnesota Legislature and Governor have passed legislation authorizing funding to Minnesota counties for relief grants to local businesses and nonprofits impacted by an executive order related to the COVID-19 pandemic.

Small businesses and nonprofits in Nicollet County impacted by COVID-19 can apply to receive grants to help with expenses incurred during the pandemic.

Grant awards will be provided to eligible businesses and nonprofits that have been adversely impacted by a Minnesota Governor executive order related to the COVID-19 pandemic.

Applicants must also have experienced a financial hardship as a result of the public health emergency. Grant awards will be up to $10,000 based on eligibility.

For more information, visit: co.nicollet.mn.us/800/Nicollet-County-Relief-Grant-Program

Grant applications and IRS Form W9 must be emailed to grant@co.nicollet.mn.us or left in the Nicollet County Government Center drop box located on Mulberry St. in St. Peter by 4:30 p.m. on February 5, 2021.