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Borealis Philanthropy
Borealis Philanthropy reported $42.5 million in revenue and $54.7 million in expenses for calendar year 2024. Of every $100 it spent, $82.55 went to program services, $15.74 to management and general costs and $1.71 to fundraising. Its largest source of revenue was contributions and grants: 97.2% of the total. The highest compensation it reported for one person was $285,846 (PRESIDENT). 32 people received more than $100,000 in reportable compensation. Revenue rose 62% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $55MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $42MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 82.6% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 15.7% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.7% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 97.2% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $285,846 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.52% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 32 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 14.1 | 36.6 |
| Independent voting board members Part VI 1a–1b | 8 of 8 | 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
2024 · Form 990, Part III · the three largest programs by expenseThe black-led movement fund supports the movement for black lives (m4bl) and other values-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. 2024 highlights:$7.3m in general operating support grants$839k in rapid response grants121 grantee partners
The disability inclusion fund seeds and expands the capacity of the disability justice movement by resourcing powerful grassroots leaders at the forefront of dismantling ableism through policy advocacy, community organizing, art, and narrative change.2024 highlights:$5.1m in grants$142k in response grants75 grantee partners
The racial equity in philanthropy fund has invested in philanthropy-serving organizations to inform, educate, and equip funders to integrate racial equity policies and practices into their grantmaking programs. This fund will formally sunset in 2025. 2024 highlights:$6.1m in grants
Highest reported compensation
2024 · 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 Officer, 40.00 hrs/week | $254,402 | $0 | $31,444 | $285,846 |
| MANAGING DIRECTOR Officer, 40.00 hrs/week | $218,888 | $0 | $48,472 | $267,360 |
| DIRECTOR OF PEOPLE & CULTURE Highest compensated employee, 40.00 hrs/week | $177,049 | $0 | $49,583 | $226,632 |
| DIRECTOR OF DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $182,962 | $0 | $37,407 | $220,369 |
| DIRECTOR OF FINANCE Officer, 40.00 hrs/week | $163,772 | $0 | $44,256 | $208,028 |
| DIRECTOR OF COMMUNICATIONS Highest compensated employee, 40.00 hrs/week | $177,792 | $0 | $27,439 | $205,231 |
| PROGRAM DIRECTOR Highest compensated employee, 40.00 hrs/week | $164,142 | $0 | $26,652 | $190,794 |
| DIRECTOR OF OPERATIONS Highest compensated employee, 40.00 hrs/week | $170,475 | $0 | $12,846 | $183,321 |
32 people received more than $100,000 in reportable compensation from Borealis Philanthropy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $710K (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
2024 · 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–1b8 · 8 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 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 563
- Volunteers Part I, line 69
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| TORAIN ADVISORY Org-wide strategy development | $207,250 |
| SPECIAL GATHERING LLC Event planning services | $174,600 |
| RENIZE LLC Strategic leadership support | $162,500 |
| ANDERSON CONSULTS Fundraising and cross fund capacity buil | $148,324 |
| KANO ADVISING LLC Advisement and consulting services | $116,100 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
34 private foundations reported grants to Borealis Philanthropy totaling $31M 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 Borealis Philanthropy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Borealis Philanthropy, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Borealis Philanthropy spent in 2024, $82.55 went to programs. The full breakdown, from its IRS Form 990:
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All arts, culture & humanities charities · Largest charities in Minnesota
Questions people ask
How much of Borealis Philanthropy's spending goes to programs?
In calendar year 2024, Borealis Philanthropy reported that 82.6% of its $54.7 million in expenses went to program services, 15.7% to management and general and 1.7% to fundraising (Form 990, Part IX).
How much does Borealis Philanthropy pay its top executive?
The largest total compensation Borealis Philanthropy reported for one person in calendar year 2024 was $285,846, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Borealis Philanthropy get its money?
Of $42.5 million in revenue in calendar year 2024, 97.2% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Borealis Philanthropy a registered charity?
The IRS lists EIN 46-4598642 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
- 2024: Form 990 for calendar year 2024, object 202523079349303597 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202422539349300877 · read the filing
- 2022: Form 990 for calendar year 2022, object 202341999349301509 · read the filing
- 2021: Form 990 for calendar year 2021, object 202202789349301725 · read the filing
- 2020: Form 990 for calendar year 2020, object 202112119349300116 · read the filing
- 2019: Form 990 for calendar year 2019, object 202002879349300645 · read the filing
All filings for EIN 46-4598642: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.