Minnesota Street Project Foundation
Nonprofit profile at a glance
- EIN
- 833859484
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- San Francisco, CA, US
- Phone
- 4152430825
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $1,774,263
- Expenses
- $2,528,975
- Assets
- $2,136,185
- Liabilities
- $4,125,764
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Highest reported compensation
- RACHEL SAMPLE (FOUNDATION DIRECTOR): $170,750 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Minnesota Street Project Foundation provides access to the space, tools, and support infrastructure for artists at all career stages to create new work. We fulfill our mission through below-market rate studios, artist residencies, and the presentation of contemporary art.
What it reported doing in 2024
The exhibition & warehouse house residency program launched at 1201 Minnesota street expands our work of directly supporting arts production and advancement of art practice, ensuring continued experimentation in the arts.
Operating model
- Revenue model
- Donor-supported. 64% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 63
- Accountability: 90
- Sustainability: 19
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.9%; rating input score 96
- Program expense ratio: 67.2%; rating input score 67
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 86.7%; rating input score 87; 3rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -42.5%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 0.84; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 1.93; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings
Growth
- Program expense growth: 32.2% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 28.4% per year; rating input score 100; 91st percentile among comparable filings
- Asset growth: 37.4% per year; rating input score 100; 94th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site
- Where the money goes: 95.9% of revenue deployed · 67.2% of spending went to programs
- Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $1.7M in reported program spending
- Leadership: top reported pay $171K · 4 people listed · 1 of 6 pay-setting controls reported
- Consistency: 30 of 31 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 4/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 48/100.