Minneapolis Foundation
- Assets
- $1.0b
- Revenue
- $200.9m
- Investments
- $246.8m
- Employees
- 68
- Location
- Minneapolis, MN
- Founding
- 09/1926
- Data as of
- 03/2021
- EIN
- 41-6029402
Organization Overview
Minneapolis Foundation is located in Minneapolis, MN. The organization was established in 1926. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2023, Minneapolis Foundation employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minneapolis 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 03/2021, Minneapolis Foundation generated $200.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $125.7m during the year ending 03/2021. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Minneapolis Foundation has awarded 11,105 individual grants totaling $694,007,766. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TOGETHER, WE DRIVE COLLECTIVE ACTION IN ORDER TO REALIZE STRONG, VIBRANT COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margie Soran Board Chair | OfficerTrustee | 4.5 | $0 |
John Taft Board Vice Chair/investmen | OfficerTrustee | 4.5 | $0 |
Scott Erickson Treasurer/finance Committee | OfficerTrustee | 1.5 | $0 |
Kathleen Maclennan Secretary | OfficerTrustee | 1.5 | $0 |
Khadija Ali Board Member | Trustee | 1 | $0 |
Julie Baker Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Willie Cager A+ Professional Painting Services | 3/30/23 | $580,782 |
Peregrine Capital Management Investment Management | 3/30/23 | $381,347 |
Nepc Llc Investment Management | 3/30/23 | $352,619 |
Silchester Investment Management | 3/30/23 | $327,708 |
Presidential Electric Llc Electrician Services | 3/30/23 | $294,541 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,377,895 |
| Investment income | $11,432,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $207,031 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $49,329,985 |
| Net Income from Fundraising Events | -$7,918 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,857,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,121,313 |
| Grants and other assistance to Foreign Orgs/Individuals | $476,652 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,603,128 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,609,465 |
| Pension plan accruals and contributions | $302,111 |
| Other employee benefits | $523,699 |
| Payroll taxes | $411,903 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $109,102 |
| Fees for services: Accounting | $91,014 |
| Fees for services: Lobbying | $10,576 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,983,991 |
| Fees for services: Other | $1,793,603 |
| Advertising and promotion | $134,390 |
| Office expenses | $327,222 |
| Information technology | $444,176 |
| Royalties | $0 |
| Occupancy | $642,085 |
| Travel | $1,946 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $209,303 |
| Interest | $149 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $299,622 |
| Insurance | $96,228 |
| All other expenses | $0 |
| Total functional expenses | $125,693,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,008,686 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $753,000 |
| Accounts receivable, net | $264,730 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $24,010,574 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,809 |
| Investments—publicly traded securities | $682,986,733 |
| Investments—other securities | $246,815,641 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,559,592 |
| Total assets | $1,032,113,169 |
| Accounts payable and accrued expenses | $1,420,744 |
| Grants payable | $8,707,106 |
| Deferred revenue | $397,125 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $31,813,402 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,779,935 |
| Total liabilities | $57,118,312 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $974,994,857 |
Grants Awarded
Over the last fiscal year, Minneapolis Foundation has awarded $89,585,971 in support to 1,365 organizations.
| Grant Recipient | Amount |
|---|---|
1000 FRIENDS OF IOWA PURPOSE: COMMUNITY & ECONOMIC DEVELOPMENT, ENVIRONMENT | $70,000 |
1000 FRIENDS OF WISCONSIN PURPOSE: COMMUNITY & ECONOMIC DEVELOPMENT | $30,000 |
2518 N 2ND STREET LLC PURPOSE: GENERAL - TO SUPPORT PREDEVELOPMENT ACTIVITIES AND NORTHSIDE REAL ESTATE DEVELOPER GRANT | $35,000 |
360 COMMUNITIES PURPOSE: DONOR-RECOMMENDED, COMMUNITY & ECONOMIC DEVELOPMENT | $12,300 |
508548 BROOKLYN ALLIANCE OF NEIGHBORHOOD GARDENS LAND TRUST PURPOSE: DONOR-RECOMMENDED, ENVIRONMENT | $10,000 |
826 MSP PURPOSE: DONOR-RECOMMENDED, ARTS & CULTURE | $30,450 |