Borealis Philanthropy
- Assets
- $86.8m
- Revenue
- $39.4m
- Investments
- $0.0
- Employees
- 57
- Location
- Minneapolis, MN
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-4598642
Organization Overview
Borealis Philanthropy is located in Minneapolis, MN. The organization was established in 2014. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Borealis Philanthropy employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Borealis Philanthropy 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 12/2023, Borealis Philanthropy generated $39.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $44.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Borealis Philanthropy has awarded 1,963 individual grants totaling $185,612,935. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BOREALIS PHILANTHROPY DIRECTS RESOURCES TO PEOPLE BUILDING POWERFUL, THRIVING COMMUNITIES THAT SERVE ALL OF US, WITH THOSE MOST IMPACTED BY INJUSTICE LEADING THE WAY. WE INVEST IN LEADERS, ORGANIZATIONS, AND MOVEMENTS USING DIVERSE AND INNOVATIVE STRATEGIES TO PURSUE TRANSFORMATIONAL CHANGE, AND WE WORK WITH DONORS TO SUPPORT MOVEMENTS IN WAYS THEY MAY NOT BE ABLE TO DO ON THEIR OWN. THROUGH OUR WORK WITH BOTH FUNDERS AND GRANTEE PARTNERS, WE AIM TO SHIFT POWER AND INVEST IN COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BLACK-LED MOVEMENT FUND SUPPORTS THE MOVEMENT FOR BLACK LIVES (M4BL) AND OTHER POLITICALLY ALIGNED ORGANIZATIONS TO BETTER SHAPE POLICY AGENDAS FOR BLACK COMMUNITIES, CREATE ALTERNATIVES TO INSTITUTIONS THAT HAVE BEEN HARMFUL TO BLACK PEOPLE, AND BUILD LOCAL BLACK COMMUNITY POWER. 2023 HIGHLIGHTS:$6.7M IN GENERAL OPERATING SUPPORT GRANTS$1.5M IN RAPID RESPONSE GRANTS61 GRANTEE PARTNERS
THE COMMUNITIES TRANSFORMING POLICING FUND IS DEDICATED TO SUPPORTING SMALL AND EMERGING GRASSROOTS ORGANIZING GROUPS LED BY PEOPLE MOST IMPACTED BY POLICING TO CREATE COLLECTIVE NARRATIVE AND ENERGY TO SHIFT POWER AND RESOURCES FROM POLICE TO COMMUNITIES TO CREATE SAFETY FOR ALL.2023 HIGHLIGHTS:$5.3M IN GRANTS85 GRANTEE PARTNERS
THE RACIAL EQUITY IN JOURNALISM FUND INVESTS IN NEWS ORGANIZATIONS LED BY AND FOR PEOPLE OF COLOR. THE FUND BOLSTERS A STRONG, DIVERSE, AND INDEPENDENT MEDIA SECTOR THAT INCREASES CIVIC ENGAGEMENT FOR COMMUNITIES OF COLOR BY REACHING THEM WITH VITAL, RELEVANT INFORMATION.2023 HIGHLIGHTS:$4.8M IN GRANTS58 GRANTEE PARTNERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Ching Board Chair | OfficerTrustee | 3 | $0 |
Jeanne Bell Treasurer | OfficerTrustee | 3 | $0 |
Garland Yates Secretary | OfficerTrustee | 3 | $0 |
Charles Long Director | Trustee | 2 | $0 |
Ebony Harper Director | Trustee | 2 | $0 |
Inca Mohammed Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nonprofit Hr Solutions Outsourced Human Resources | 12/30/23 | $453,236 |
Torain Advisory Program Consultancy | 12/30/23 | $157,500 |
Next Step Consulting Llc Strategic Coaching | 12/30/23 | $227,000 |
Vision Change Win Organizational Development For Grantees | 12/30/23 | $128,006 |
Anderson Consults Fundraising And Cross Fund Capacity Buil | 12/30/23 | $113,107 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,316,529 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,316,529 |
| Total Program Service Revenue | $0 |
| Investment income | $2,050,446 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,366,975 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,822,917 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $648,401 |
| Compensation of current officers, directors, key employees. | $648,401 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,147,223 |
| Pension plan accruals and contributions | $200,847 |
| Other employee benefits | $683,353 |
| Payroll taxes | $429,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,855 |
| Fees for services: Accounting | $23,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,172,693 |
| Advertising and promotion | $0 |
| Office expenses | $309,207 |
| Information technology | $393,378 |
| Royalties | $0 |
| Occupancy | $17,059 |
| Travel | $601,333 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $848,034 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,028 |
| All other expenses | $0 |
| Total functional expenses | $44,560,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $69,965,542 |
| Pledges and grants receivable | $16,691,330 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $101,751 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $660 |
| Total assets | $86,759,283 |
| Accounts payable and accrued expenses | $716,447 |
| Grants payable | $12,973,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $13,689,447 |
| Net assets without donor restrictions | $14,197,674 |
| Net assets with donor restrictions | $58,872,162 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $86,759,283 |
Grants Awarded
Over the last fiscal year, Borealis Philanthropy has awarded $31,682,400 in support to 331 organizations.
| Grant Recipient | Amount |
|---|---|
SOCIAL AND ENVIRONMENTAL ENTREPRENEURS PURPOSE: TO SUPPORT THE WORK OF FISCALLY SPONSORED PROJECTS | $1,305,000 |
TIDES FOUNDATION PURPOSE: TO SUPPORT THE WORK OF FISCALLY SPONSORED PROJECTS | $785,000 |
ALLIED MEDIA PROJECTS PURPOSE: TO SUPPORT THE WORK OF FISCALLY SPONSORED PROJECTS | $729,000 |
PEACE DEVELOPMENT FUND PURPOSE: TO SUPPORT THE WORK OF PEOPLE'S JUSTICE PROJECT | $450,000 |
ORGANIZATION FOR HUMAN RIGHTS AND DEMOCRACY PURPOSE: TO SUPPORT THE WORK OF METRO ATLANTA MUTUAL AID FUND | $400,000 |
HARRIET'S WILDEST DREAMS PURPOSE: TO SUPPORT THE WORK OF HARRIET'S WILDEST DREAMS | $350,000 |