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The Minneapolis Foundation
The Minneapolis Foundation reported $193.0 million in revenue and $152.4 million in expenses for the fiscal year ending March 31, 2025. Of every $100 it spent, $93.00 went to program services, $4.62 to management and general costs and $2.38 to fundraising. Its largest source of revenue was contributions and grants: 68.3% of the total. The highest compensation it reported for one person was $477,199 (PRESIDENT & CEO). 27 people received more than $100,000 in reportable compensation. Revenue rose 36% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending March 31, 2025 · Form 990, Part IX, line 25 · total expenses $152MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending March 31, 2025 · Form 990, Part VIII · total revenue $193MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 93.0% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 4.6% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.4% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.03 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 68.3% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.8% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.7% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $477,199 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.31% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 27 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 87.0 | 56.6 |
| Independent voting board members Part VI 1a–1b | 31 of 32 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe Minneapolis Foundation is one of the oldest and largest community foundations in the nation. Established in 1915, the foundation cultivates generosity by taking action on the greatest civic, social, and economic needs partnering with nonprofits, facilitating grantmaking, driving research and advocacy, and providing services to donors seeking to make a difference in their communities. As a community foundation, we invest and distribute grants from charitable funds established by members of the community. Today, we manage more than $1 billion in assets and administer more than 1,500…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 37.50 hrs/week | $420,545 | $0 | $56,654 | $477,199 |
| SENIOR VICE PRESIDENT, PHILANTHROPIC SERVICES Key employee, 37.50 hrs/week | $279,705 | $0 | $63,136 | $342,841 |
| SENIOR VICE PRESIDENT OF IMPACT Key employee, 37.50 hrs/week | $288,507 | $0 | $30,846 | $319,353 |
| DIRECTOR, BUSINESS DEVELOPMENT AND PHILANTHROPIC A Highest compensated employee, 37.50 hrs/week | $207,677 | $0 | $44,126 | $251,803 |
| VICE PRESIDENT FOR TALENT AND CULTURE Highest compensated employee, 37.50 hrs/week | $195,090 | $0 | $52,568 | $247,658 |
| CFO Officer, 37.50 hrs/week | $223,270 | $0 | $19,798 | $243,068 |
| VICE PRESIDENT OF COLLECTIVE IMPACT AND GIVING Highest compensated employee, 37.50 hrs/week | $204,150 | $0 | $28,438 | $232,588 |
| VICE PRESIDENT OF TECHNOLOGY AND ENTERPRISE RISK M Highest compensated employee, 37.50 hrs/week | $195,605 | $0 | $15,529 | $211,134 |
27 people received more than $100,000 in reportable compensation from The Minneapolis Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.4M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b32 · 31 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 573
- Volunteers Part I, line 633
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NEPC LLC Investment management | $496,526 |
| SILCHESTER INTERNATIONAL ADVISORS Investment management | $391,018 |
| PEREGRINE CAPITAL MANAGEMENT Investment management | $377,160 |
| WIPFLI LLP It services | $198,709 |
Individuals listed as contractors are left out. 12 contractors were paid more than $100,000 in all.
Private foundation grants it received
55 private foundations reported grants to The Minneapolis Foundation totaling $27M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Minneapolis Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Minneapolis Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Minneapolis Foundation spent in FY2025, $93.00 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Thrivent Charitable Impact & InvestingAppleton, WI · revenue $192M · programs 86.1% · 2025
- Jewish Community Foundation of San DiegoSan Diego, CA · revenue $194M · programs 96.7% · FY2025
- The Greater Cincinnati FoundationCincinnati, OH · revenue $184M · programs 95.5% · 2024
- The San Diego FoundationSan Diego, CA · revenue $197M · programs 82.7% · FY2025
- Robin Hood FoundationNew York, NY · revenue $180M · programs 88.0% · 2024
All philanthropy, voluntarism & grantmaking charities · Largest charities in Minnesota
Questions people ask
How much of The Minneapolis Foundation's spending goes to programs?
In the fiscal year ending March 31, 2025, The Minneapolis Foundation reported that 93.0% of its $152.4 million in expenses went to program services, 4.6% to management and general and 2.4% to fundraising (Form 990, Part IX).
How much does The Minneapolis Foundation pay its top executive?
The largest total compensation The Minneapolis Foundation reported for one person in the fiscal year ending March 31, 2025 was $477,199, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Minneapolis Foundation get its money?
Of $193.0 million in revenue in the fiscal year ending March 31, 2025, 68.3% came from contributions and grants (including 0.8% from government grants) and 0.7% from program service revenue (Form 990, Part VIII).
Is The Minneapolis Foundation a registered charity?
The IRS lists EIN 41-6029402 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending March 31, 2025, object 202513299349300326 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending March 31, 2024, object 202520289349302052 · read the filing
- FY2023: Form 990 for the fiscal year ending March 31, 2023, object 202323559349300512 · read the filing
- FY2022: Form 990 for the fiscal year ending March 31, 2022, object 202330129349302708 · read the filing
- FY2021: Form 990 for the fiscal year ending March 31, 2021, object 202200109349300710 · read the filing
- FY2020: Form 990 for the fiscal year ending March 31, 2020, object 202140119349300414 · read the filing
All filings for EIN 41-6029402: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.