Posted by Hannah Erdman Posted on
Founder of Salo, LLC Brings Business Acumen to Minneapolis Non-Profit
During the past three years, the firm that John Folkestad co-founded has become the fastest-growing contract firm in the Twin Cities. Over the next two years, Folkestad will lend his strategic expertise to the board of directors of Cabrini House, an organization that provides housing and support services to adults diagnosed with mental illness and/or chemical dependency disabilities.
Folkestad, a 38-year-old Certified Public Accountant, started Salo, LLC, with Amy Langer in 2002, growing the firm from sales of $3.4 million in 2003 its first full year in operation to $21 million in 2005. Salo specializes in contracting its stable of 180 experienced auditors, budgeters, CFOs and other financial managers to Twin Cities’ companies in need of temporary financial leadership.
“I was very pleased John was interested in joining the Cabrini House board,” says Cabrini House Executive Chair Catherine McGlinch, Executive Director of the Minnesota State Colleges & Universities Foundation. “Cabrini House is in the process of significantly expanding its outreach. John’s connections within the business community and his passion for the projects he’s involved with are exactly the type of board member characteristics we seek to attract to bring Cabrini House to the next level of service and recognition in the community.”
The 16-member board of directors of Cabrini House provide guidance, network for the good of Cabrini House and its residents, oversee the budget, and are involved with the operation of Cabrini House.
“Cabrini House has an excellent track record in helping clients acquire the skills, supports, and confidence they need to live as independent adults,” Folkestad notes. “I’m honored to help them build to the next level.”
Cabrini House is an independent non-profit organization licensed by Hennepin County to provide housing and a comprehensive range of support services to adults diagnosed with mental illness and/or chemical dependency disabilities (80% of our residents are dually diagnosed they have both). Cabrini operates a transitional housing facility for 23 people in Southeast Minneapolis and an Independent Living Program that sublets 20 independent apartments to eligible Cabrini House graduates.