Episode Summary: "Banking On Purpose: Nonprofits, Money & Meaning In Uncertain Times with Kelly Scalicki"

Podcast: What the Fundraising
Host: Mallory Erickson
Guest: Kelly Scalicki, CEO of Stearns Bank
Release Date: June 17, 2025
Duration: 32 minutes

1. Introduction to Kelly Scalicki and Stearns Bank

The episode kicks off with Mallory Erickson introducing Kelly Scalicki, the CEO of Stearns Bank. Kelly provides an overview of her bank, emphasizing its national presence and unique focus areas, including specialized services for nonprofits.

Notable Quote:
"We do SBA lending, small business lending, we do construction lending nationwide. We're pretty unusual for even a national bank."
— Kelly Scalicki [01:45]

2. Mission-Driven Banking: Abundance vs. Scarcity Mindset

Kelly delves into Stearns Bank’s foundational philosophy, highlighting a shift from a scarcity mindset to one of abundance. This approach centers on serving clients to help them thrive, thereby uplifting their communities.

Notable Quote:
"Are you working from scarcity or abundance? And for us, there is an abundance amount of needs you can fill and work you can do."
— Kelly Scalicki [00:00]

3. Innovative Banking Solutions for Nonprofits

Addressing the specific challenges nonprofits face, Kelly explains how Stearns Bank developed tailored banking solutions to bridge financing gaps. These solutions assist nonprofits in managing cash flow issues, especially concerning reimbursable grants and delayed funding.

Notable Quote:
"Nonprofits have the same cash flow issues that small for-profits do, even more challenging many times because of the way they raise funds."
— Kelly Scalicki [03:55]

4. Commitment to Diversity, Equity, and Inclusion (DEI)

Kelly underscores the bank's unwavering commitment to DEI, integrating these values into the company's DNA. She discusses the positive impact of inclusive practices on decision-making, risk management, and community service.

Notable Quote:
"Inclusion and diversity is really a non-negotiable. I mean it's so in our DNA as a company."
— Kelly Scalicki [18:34]

5. Financial Empowerment During Crisis: The COVID-19 Response

Highlighting their proactive measures during the COVID-19 pandemic, Kelly details how Stearns Bank continued to pay interest on deposits and waived ATM fees, contrasting sharply with larger banks that imposed fees and made unfavorable financial decisions.

Notable Quote:
"If you banked with us, all of the banks around the country were paying zero interest... but we continued paying interest on people's deposit accounts."
— Kelly Scalicki [08:06]

6. Navigating Financial Challenges and Recession-Proofing Nonprofits

The conversation shifts to strategies for nonprofits to prepare for economic downturns. Kelly emphasizes the importance of developing financial options, diversifying funding sources, and leveraging community connections to build resilience.

Notable Quote:
"Developing some options is the best way to prepare if you never need them. Beautiful."
— Kelly Scalicki [24:07]

7. Emphasizing Purpose and Mission Alignment

Kelly shares personal insights into the lasting impact of nonprofit work, inspired by her family's involvement with Clara's House. She advocates for nonprofits to stay true to their missions and build strong, value-aligned partnerships.

Notable Quote:
"When you deposit money, we're paying out interest before we've even deployed a loan. We're paying out of our gross revenues just voluntarily. We don't have to do that."
— Kelly Scalicki [14:19]

8. Building Meaningful Connections and Partnerships

Mallory and Kelly discuss the significance of fostering genuine relationships within the nonprofit ecosystem. Kelly advises nonprofits to articulate their missions clearly, seek introductions, and collaborate with like-minded organizations to amplify their impact.

Notable Quote:
"Always asking, because also people are generous in their wanting to share and make connections as well."
— Kelly Scalicki [25:12]

9. Final Insights and How to Connect with Stearns Bank

As the episode wraps up, Kelly provides practical information for nonprofits interested in partnering with Stearns Bank. She highlights the bank's accessibility and commitment to personalized service.

Notable Quote:
"We pride ourselves in answering the first ring... ask for a nonprofit banking specialist, and then we’ll put you in touch."
— Kelly Scalicki [30:38]

Conclusion

This episode of What the Fundraising offers a compelling look into how Stearns Bank, under Kelly Scalicki’s leadership, is redefining banking for nonprofits. By prioritizing mission-driven services, DEI, and financial empowerment, Stearns Bank serves as a valuable ally for nonprofits navigating uncertain times. Kelly’s insights provide actionable strategies for nonprofits to strengthen their financial footing and build impactful, sustainable organizations.

Additional Resources:
For more information on this episode, visit MalloryErickson.com/Podcast.