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Nonprofiteer
← WOMENS FOUNDATION OF MINNESOTA

Form 990 for tax year 2023

Filed by WOMENS FOUNDATION OF MINNESOTA.

Totals

Total revenue
$7,678,057
Total expenses
$8,716,638
Contributions and grants received
$7,257,895
Grants paid
$4,259,328
Program service revenue
$0
Investment income
$413,011
Other revenue
$7,151
Total assets, end of year
$37,705,804
Total liabilities, end of year
$463,484
Net assets or fund balances, end of year
$37,242,320
Program services expenses (Part IX)
$7,326,416
Management and general expenses
$1,248,555
Fundraising expenses
$141,667
Program service expenses (Part III)
$7,326,416

Program services were 84.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $7,257,895

  • 1g · Noncash contributions included above

    $801,347

  • 3 · Investment income

    total $394,079 · unrelated business -$221 · excluded $394,300

  • 7a · Gross sales of assets other than inventory

    securities $40,233,302

  • 7b · Less cost or other basis and sales expenses

    securities $40,214,370

  • 7c · Gain or loss

    securities $18,932

  • 7d · Net gain or loss

    total $18,932 · excluded $18,932

  • 11a · Other revenue: Other Income

    total $7,151 · related or exempt $7,151

  • 11e · Other revenue, total

    $7,151

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,249,328 · program services $4,249,328

  • 3 · Grants to foreign organizations and individuals

    total $10,000 · program services $10,000

  • 5 · Compensation of officers, directors and key employees

    total $513,436 · program services $130,526 · management and general $321,884 · fundraising $61,026

  • 7 · Other salaries and wages

    total $1,830,948 · program services $1,552,309 · management and general $278,639

  • 8 · Pension plan contributions

    total $113,773 · program services $97,350 · management and general $16,423

  • 9 · Other employee benefits

    total $192,441 · program services $158,412 · management and general $34,029

  • 10 · Payroll taxes

    total $161,505 · program services $119,327 · management and general $40,793 · fundraising $1,385

  • 11b · Fees: legal

    total $16,132 · program services $255 · management and general $15,877

  • 11c · Fees: accounting

    total $26,900 · management and general $26,900

  • 11e · Fees: professional fundraising services

    total $76,500 · fundraising $76,500

  • 11f · Fees: investment management

    total $64,704 · management and general $64,704

  • 11g · Fees: other

    total $597,680 · program services $542,948 · management and general $54,732

  • 12 · Advertising and promotion

    total $25,180 · program services $25,180

  • 13 · Office expenses

    total $79,265 · program services $66,475 · management and general $12,585 · fundraising $205

  • 14 · Information technology

    total $27,311 · program services $20,220 · management and general $6,852 · fundraising $239

  • 16 · Occupancy

    total $125,178 · program services $92,680 · management and general $31,404 · fundraising $1,094

  • 17 · Travel

    total $47,243 · program services $23,159 · management and general $24,062 · fundraising $22

  • 19 · Conferences, conventions and meetings

    total $81,694 · program services $78,885 · management and general $2,286 · fundraising $523

  • 22 · Depreciation, depletion and amortization

    total $24,916 · program services $18,447 · management and general $6,251 · fundraising $218

  • 23 · Insurance

    total $12,388 · program services $9,172 · management and general $3,108 · fundraising $108

  • 24a · Other expenses: Equipment

    total $105,431 · program services $91,035 · management and general $14,051 · fundraising $345

  • 24b · Other expenses: Staff Development

    total $64,362 · program services $35,610 · management and general $28,752

  • 24c · Other expenses: Dues/Subscriptions

    total $7,897 · program services $5,098 · management and general $2,797 · fundraising $2

  • 24d · Other expenses: UBIT Expense

    total $1,063 · management and general $1,063

  • 24e · All other expenses

    total $261,363 · management and general $261,363

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $10,357,249 · end of year $9,723,485

  • 3 · Pledges and grants receivable

    beginning of year $1,576,815 · end of year $1,208,684

  • 9 · Prepaid expenses and deferred charges

    beginning of year $81,476 · end of year $105,604

  • 10a · Land, buildings and equipment: cost or other basis

    $485,612

  • 10b · Land, buildings and equipment: accumulated depreciation

    $362,566

  • 10c · Land, buildings and equipment, net

    beginning of year $47,302 · end of year $123,046

  • 12 · Investments: other securities

    beginning of year $22,080,568 · end of year $25,560,603

  • 13 · Investments: program-related

    beginning of year $900,000 · end of year $900,000

  • 15 · Other assets

    beginning of year $70,367 · end of year $84,382

  • 17 · Accounts payable and accrued expenses

    beginning of year $225,443 · end of year $358,484

  • 18 · Grants payable

    beginning of year $660,141 · end of year $105,000

  • 27 · Net assets without donor restrictions

    beginning of year $11,339,765 · end of year $13,600,558

  • 28 · Net assets with donor restrictions

    beginning of year $22,888,428 · end of year $23,641,762

Mission and programs · 2023

Mission

Women's Foundation of Minnesota is a statewide community foundation investing in innovation to drive gender and racial equity. WFMN maintains the diversity of multiracial and cultural perspectives in the service of its mission, governance, operations and processes.

Activities or mission (Part I)

To invest in innovation to drive gender and racial equity in Minnesota.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $4,214,268 · Grants $2,590,600

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $609,313 · Grants $89,285

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $2,502,835 · Grants $1,579,443

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Gloria Perez

    President and CEO

    Total calculated
    $298,984
    From this org
    $261,965
    From related orgs
    $0
    Other
    $37,019
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,072
    Bonus
    $5,000
    Other
    $893
    Deferred
    $18,807
    Nontaxable benefits
    $18,212
    Filer's total
    $298,984

  • Heidi Walsh

    VP Finance and Operations

    Total calculated
    $223,207
    From this org
    $183,016
    From related orgs
    $0
    Other
    $40,191
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,788
    Bonus
    $5,000
    Other
    $228
    Deferred
    $13,541
    Nontaxable benefits
    $26,650
    Filer's total
    $223,207

  • Cynthia Bauerly

    VP Strategy

    Total calculated
    $165,747
    From this org
    $154,176
    From related orgs
    $0
    Other
    $11,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,154
    Bonus
    $500
    Other
    $522
    Deferred
    $10,271
    Nontaxable benefits
    $1,300
    Filer's total
    $165,747

  • Nadia Siddiqui

    VP of Advancement

    Total calculated
    $150,897
    From this org
    $138,740
    From related orgs
    $0
    Other
    $12,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,006
    Bonus
    $2,500
    Other
    $234
    Deferred
    $5,794
    Nontaxable benefits
    $6,363
    Filer's total
    $150,897

  • LaCora Bradford Kesti

    VP Community Impact

    Total calculated
    $146,135
    From this org
    $136,586
    From related orgs
    $0
    Other
    $9,549
    Hours/week
    40

  • Chanida Potter Jan-Nov

    VP Strategic Comms

    Total calculated
    $140,947
    From this org
    $131,398
    From related orgs
    $0
    Other
    $9,549
    Hours/week
    40

  • Jennifer Lowman Day

    Director Communications

    Total calculated
    $146,964
    From this org
    $118,450
    From related orgs
    $0
    Other
    $28,514
    Hours/week
    40

  • Chanda Smith Baker

    Chair

    Total calculated
    $0
    Hours/week
    3

  • Anita Patel

    Vice Chair

    Total calculated
    $0
    Hours/week
    3

  • Debarati Sen

    Treasurer

    Total calculated
    $0
    Hours/week
    3

  • Ed Heisler

    Secretary

    Total calculated
    $0
    Hours/week
    3

  • Nevada Littlewolf

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Raichel Brown

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brenda Quaye

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Sandra Vargas

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Valerie Spencer

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Fatima Said

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Vanessa Goodthunder

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Katherine Hayes

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kris Maritz

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Rajni Shah

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Tolzmann

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Tonya Jackman Hampton

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Henry Jimenez

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Velma Korbel

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mary Miklethun

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Adair Mosely

    Trustee

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
Bonuses are determined annually based on, but not tied to, year-end financial results. The bonus is assigned based on the individual's impact in driving the work of the strategic plan forward. The President and CEO's bonus is determined by the board. All other bonuses are determined by the President and CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Trust (2)

    T · MN

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202442679349300719

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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