Medtronic Communities Foundation
- Assets
- $54.3m
- Revenue
- $230.2k
- Investments
- $21.0m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/1977
- Data as of
- 04/2022
- EIN
- 41-1306950
Organization Overview
Medtronic Communities Foundation is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medtronic Communities Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2022, Medtronic Communities Foundation generated $230.2k in total revenue. All expenses for the organization totaled $29.4m during the year ending 04/2022.
Since 2020, Medtronic Communities Foundation has awarded 302 individual grants totaling $111,786,275. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paurvi Bhatt President, Vice Chair | 32 | $294,552 | |
Daly Jessica Director Philanthrop | 39.6 | $253,377 | |
Liz Lund Assistant Secretary | 39.6 | $219,246 | |
Wales Ann Senior Philanthropy | 39.6 | $218,176 | |
Scheck Donna Analytics Program Ma | 39.6 | $173,268 | |
Fedorov Lara Senior Portfolio Man | 39.6 | $160,283 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Taproot Foundation | 4/28/22 | $431,000 |
Blackbaud | 4/28/22 | $387,977 |
Three Point Solutions Inc | 4/28/22 | $220,710 |
Weber Shandwick | 4/28/22 | $193,175 |
Pyxera Globl Inc | 4/28/22 | $139,934 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,675,980 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,445,741 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $230,239 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $687,533 |
| Other employee salaries and wages | $1,833,474 |
| Pension plans, employee benefits | $302,570 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,573 |
| Printing and publications | $0 |
| Other expenses | $138,740 |
| Total operating and administrative expenses | $4,951,016 |
| Contributions, gifts, grants paid | $24,448,594 |
| Total expenses and disbursements | $29,399,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,888 |
| Savings and temporary cash investments | $33,143,882 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $54,271,830 |
| Accounts payable and accrued expenses | $4,535,212 |
| Grants payable | $4,026,906 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,562,118 |
Grants Awarded
Over the last fiscal year, Medtronic Communities Foundation has awarded $26,970,452 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, SC PURPOSE: US MATCH GIVING | $10,432,046 |
Washington, DC PURPOSE: TMCF SCHOLARSHIP PROGRAM | $942,600 |
PUERTO RICO SCIENCE TECHNOLOGY & PURPOSE: MILESTONE BASED PAYMENT | $825,000 |
EMERGENCY ASSISTANCE FOUNDATION INC PURPOSE: MEAF GRANT AMENDMENT | $750,000 |
EMERGENCY ASSISTANCE FOUNDATION INC PURPOSE: DISASTER RESPONSE | $750,000 |
Minneapolis, MN PURPOSE: MILESTONE BASED PAYMENT | $700,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |