The Minneapolis Foundation

What it reported doing in 2024

The 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 charitable funds created by individuals, families, businesses, and nonprofits. Millions of dollars in grants are distributed from these funds each year (see part 1, line 13), either personally advised by or in accordance with the legacy wishes of our donors. We also steward a permanent charitable endowment and distribute the income from it to benefit the community. The foundation creates intersections in civic life that foster a generous community of donors, organizations, staff, volunteers, and residents who listen, learn, and take responsive action to address pressing needs. We support donors and partners as they express their generosity personally, collectively, and across generations. We invest in community-shaped and community-driven solutions using all available tools and resources. We use our access and influence to amplify and elevate the voices and leadership of others. We create measurable meaning and impact across our work through research, evaluation, and knowledge-sharing. We demonstrate philanthropic and organizational excellence in impact, integrity, and innovation. During the year ended march 31, 2025, the minneapolis foundation received more than $130 million in gifts and awarded more than $125 million in total grants. Our donors advised more than $92 million in grants to causes locally and around the united states. The foundation distributed community grants totaling over $13 million. The remaining grants were from a variety of funds including corporate employee assistance funds, scholarships, designated funds and others. More information about the minneapolis foundation can be found at www.minneapolisfoundation.org.

Financial Efficiency

• Mission deployment rate: 90.4%; rating input score 90
• Program expense ratio: 93%; rating input score 93
• Fundraising efficiency: $36.42 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

• Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99.3%; rating input score 99; 39th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 96.9%; rating input score 97; 52nd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 21%; rating input score 88; 88th percentile among comparable filings
• Total-asset coverage ratio: 7.78; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 87; 87th percentile among comparable filings
• Officer compensation ratio: 1.7%; rating input score 62; 62nd percentile among comparable filings

Growth

• Program expense growth: 7.8% per year; rating input score 100; 63rd percentile among comparable filings
• Revenue growth: 7.1% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings