Minneapolis Foundation
- Assets
- $763.8m
- Revenue
- $141.5m
- Investments
- $236.5m
- Employees
- 65
- Location
- Minneapolis, MN
- Founding
- 09/1926
- Data as of
- 03/2020
- 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 03/2022, Minneapolis Foundation employed 65 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 03/2020, Minneapolis Foundation generated $141.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $106.1m during the year ending 03/2020. While expenses have increased by 7.0% per year over the past 6 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 12,510 individual grants totaling $772,638,543. 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
2020
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 |
|---|---|---|---|
Rt Rybak President & CEO | Officer | 37.5 | $408,757 |
Jean Adams Senior Vice President, Strategy & COO | Officer | 37.5 | $286,254 |
Chanda Baker Chief Impact Officer | Officer | 37.5 | $257,053 |
Christopher Beach Senior Vice President, Philanthropic Services | Officer | 37.5 | $251,542 |
Greg Wenz CFO | Officer | 37.5 | $187,283 |
William Sternberg Director, Business Development & Philanthropic Adv | 37.5 | $186,172 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Peregrine Capital Management Investment Management | 3/30/22 | $401,508 |
Hs Management Partners Investment Management | 3/30/22 | $309,261 |
Silchester International Investor Inc Investment Management | 3/30/22 | $341,247 |
Nepc Llc Investment Management | 3/30/22 | $329,550 |
Vulcan Value Partners Investment Management | 3/30/22 | $204,805 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,429,335 |
| Investment income | $15,668,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $35,983 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,668,530 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,518,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $2,241,974 |
| Grants and other assistance to Foreign Orgs/Individuals | $280,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,231,883 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,165,817 |
| Pension plan accruals and contributions | $176,341 |
| Other employee benefits | $665,087 |
| Payroll taxes | $390,549 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,065 |
| Fees for services: Accounting | $81,305 |
| Fees for services: Lobbying | $14,100 |
| Fees for services: Fundraising | $11,000 |
| Fees for services: Investment Management | $3,762,307 |
| Fees for services: Other | $2,476,837 |
| Advertising and promotion | $237,253 |
| Office expenses | $223,350 |
| Information technology | $374,591 |
| Royalties | $0 |
| Occupancy | $656,378 |
| Travel | $116,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,044,463 |
| Interest | $106 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $274,246 |
| Insurance | $91,296 |
| All other expenses | $0 |
| Total functional expenses | $106,120,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,075,053 |
| Savings and temporary cash investments | $4,650,650 |
| Pledges and grants receivable | $2,903,000 |
| Accounts receivable, net | $86,619 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,686,230 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,413 |
| Investments—publicly traded securities | $432,402,731 |
| Investments—other securities | $236,465,849 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,856,167 |
| Total assets | $763,755,990 |
| Accounts payable and accrued expenses | $1,345,914 |
| Grants payable | $5,551,772 |
| Deferred revenue | $198,387 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,845,629 |
| 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 | $11,601,278 |
| Total liabilities | $46,542,980 |
| 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 | $717,213,010 |
Grants Awarded
Over the last fiscal year, Minneapolis Foundation has awarded $93,963,944 in support to 1,506 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: EDUCATION | $4,810,000 |
Alpharetta, GA PURPOSE: DONOR-RECOMMENDED, PHILANTHROPY | $3,019,831 |
Minneapolis, MN PURPOSE: EDUCATION | $2,757,855 |
Minneapolis, MN PURPOSE: GENERAL | $2,650,000 |
Arlington, VA PURPOSE: DONOR-RECOMMENDED, ENVIRONMENT | $1,762,044 |
Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, RELIGION | $1,275,155 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Minneapolis Foundation has recieved totaling $91,750.
| Awarding Organization | Amount |
|---|---|
Sokolof Grandchildren Charitable Foundation Omaha, NE PURPOSE: SUPPORT GENERAL PROGRAMS | $90,000 |
Albright Foundation Edina, MN PURPOSE: CHARITABLE | $1,750 |
Endowment Analysis
| Beg. Balance | $344,554,365 |
| Earnings | $35,936,698 |
| Net Contributions | $7,769,207 |
| Grants | $14,157,358 |
| Ending Balance | $374,102,912 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saint Paul & Minnesota Foundation Saint Paul, MN | $1,669,011,772 | $301,856,819 |
Minneapolis Foundation Minneapolis, MN | $763,755,990 | $141,518,502 |
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |