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Nonprofiteer
← WOMENS FOUNDATION OF MINNESOTA

Form 990 for tax year 2022

Filed by WOMENS FOUNDATION OF MINNESOTA.

Totals

Total revenue
$11,550,455
Total expenses
$6,176,461
Contributions and grants received
$11,426,321
Grants paid
$2,388,067
Program service revenue
$0
Investment income
$121,751
Other revenue
$2,383
Total assets, end of year
$35,113,777
Total liabilities, end of year
$885,584
Net assets or fund balances, end of year
$34,228,193
Program services expenses (Part IX)
$4,982,388
Management and general expenses
$1,017,469
Fundraising expenses
$176,604
Program service expenses (Part III)
$4,982,388

Program services were 80.7% 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

    $11,426,321

  • 1g · Noncash contributions included above

    $248,714

  • 3 · Investment income

    total $131,160 · unrelated business $9,392 · excluded $121,768

  • 7a · Gross sales of assets other than inventory

    securities $1,251,897

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

    securities $1,261,306

  • 7c · Gain or loss

    securities -$9,409

  • 7d · Net gain or loss

    total -$9,409 · excluded -$9,409

  • 11a · Other revenue: Other Income

    total $2,383 · related or exempt $2,383

  • 11e · Other revenue, total

    $2,383

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,349,817 · program services $2,349,817

  • 2 · Grants to domestic individuals

    total $38,250 · program services $38,250

  • 5 · Compensation of officers, directors and key employees

    total $506,205 · program services $241,922 · management and general $227,788 · fundraising $36,495

  • 7 · Other salaries and wages

    total $1,665,494 · program services $1,359,460 · management and general $304,531 · fundraising $1,503

  • 8 · Pension plan contributions

    total $98,259 · program services $83,090 · management and general $15,169

  • 9 · Other employee benefits

    total $169,278 · program services $138,391 · management and general $30,887

  • 10 · Payroll taxes

    total $147,759 · program services $111,693 · management and general $33,451 · fundraising $2,615

  • 11b · Fees: legal

    total $760 · program services $380 · management and general $380

  • 11c · Fees: accounting

    total $28,675 · management and general $28,675

  • 11e · Fees: professional fundraising services

    total $109,500 · fundraising $109,500

  • 11f · Fees: investment management

    total $68,705 · management and general $68,705

  • 11g · Fees: other

    total $550,164 · program services $351,400 · management and general $172,601 · fundraising $26,163

  • 12 · Advertising and promotion

    total $2,866 · program services $2,866

  • 13 · Office expenses

    total $53,989 · program services $45,843 · management and general $8,146

  • 14 · Information technology

    total $25,254 · program services $19,402 · management and general $5,852

  • 16 · Occupancy

    total $122,979 · program services $94,482 · management and general $28,497

  • 17 · Travel

    total $22,111 · program services $2,693 · management and general $19,398 · fundraising $20

  • 19 · Conferences, conventions and meetings

    total $33,597 · program services $28,497 · management and general $4,792 · fundraising $308

  • 22 · Depreciation, depletion and amortization

    total $28,939 · program services $22,233 · management and general $6,706

  • 23 · Insurance

    total $9,866 · program services $7,580 · management and general $2,286

  • 24a · Other expenses: Equipment

    total $84,729 · program services $70,907 · management and general $13,822

  • 24b · Other expenses: Staff Development

    total $23,849 · program services $7,583 · management and general $16,266

  • 24c · Other expenses: Dues/Subscriptions

    total $11,344 · program services $5,899 · management and general $5,445

  • 24e · All other expenses

    total $24,072 · management and general $24,072

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,379,705 · end of year $10,357,249

  • 3 · Pledges and grants receivable

    beginning of year $258,952 · end of year $1,576,815

  • 9 · Prepaid expenses and deferred charges

    beginning of year $85,008 · end of year $81,476

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

    $415,013

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

    $367,711

  • 10c · Land, buildings and equipment, net

    beginning of year $49,689 · end of year $47,302

  • 12 · Investments: other securities

    beginning of year $23,814,789 · end of year $22,080,568

  • 13 · Investments: program-related

    beginning of year $1,500,000 · end of year $900,000

  • 15 · Other assets

    beginning of year $82,386 · end of year $70,367

  • 17 · Accounts payable and accrued expenses

    beginning of year $253,932 · end of year $225,443

  • 18 · Grants payable

    beginning of year $618,000 · end of year $660,141

  • 27 · Net assets without donor restrictions

    beginning of year $10,627,441 · end of year $11,339,765

  • 28 · Net assets with donor restrictions

    beginning of year $19,671,156 · end of year $22,888,428

Mission and programs · 2022

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 $3,355,951 · Grants $1,862,828

  • Research, Education, and Public PolicyStatus of Women and Girls in MinnesotaIn 2009, the Foundation launched the Status of Women & Girls in Minnesota (Status) research project in partnership with the University of Minnesota's Humphrey School's Center on Gender, Women, and Public Policy. Data specific to Minnesota women and girls has been gathered, analyzed, and published in economics, safety, health, and leadership. The Status research and community input expands the available data on women and girls, provides ongoing trend analysis, informs the Foundation's annual grantmaking and policy agenda, identifies new areas where research is needed, and raises public awareness about the needs of women and girls in Minnesota. Every two years, the Foundation releases the Status of Women and Girls in Minnesota, the most comprehensive data in the state on women, girls, and gender-expansive people as well as recommendations for policy solutions that could advance systemic change. Data collection has begun for the next report, released in early 2024.WFM leverages listening, research, and convening to inform the field, cross-sector engagement, policy advocacy, and investments. In addition to producing quantitative reports, we invest in listening to grantee-partners, advocates, and community leaders to better understand how disparities and solutions are experienced in distinct communities around the state, and to inform our own work and role in philanthropy. Through virtual listening sessions in the last fiscal year, WFM we met with Safety, girlsBEST, and YWI MN partners, disability and rural advocates, elders, male advocates, and alumni of WFM programs to continue building and sharing power and expanding our transparency about our processes. A summary of this listening series was captured in a graphic harvest that informs not only grantmaking processes, but also our emerging emphasis on using narrative change to drive systems change. Based on this convening series, we identified key narrative priorities in our impact areas of safety, reproductive justice and healing, and democratizing philanthropy that align with the social landscape and the concerns of our core stakeholders.Public PolicyAs a systems-change community foundation, WFM invests in policies and narratives that transform our state with gender and racial justice. In alignment with our strategic plan, WFM has increased investments in advocacy and policy as a lever for changing inequitable systems. We are committed to policies that remove barriers and increase access for women, girls, and gender-expansive people across Minnesota, by addressing racism, gender-based violence, and gaps in leadership and representation. Building on the Foundation's historical legislative work, WFM's legislative agenda advanced public policy in partnership with young women, gender-expansive people, and grantee-partner organizations. In the last fiscal year, WFM added a new role to reflect our increased emphasis on driving effective advocacy and policy change. Led by the vice president for strategic initiatives, we advanced a robust policy agenda at the Capitol, working with a hired lobbyist to carry a legislative agenda, mobilize the public, and increase the visibility and priorities of women, girls, gender-expansive people. WFM leaders, board, and Cabinet members testified on behalf of the WFM policy agenda for issues central to economic justice, safety, and reproductive justice, including Paid Family & Medical Leave, reproductive rights, and increased funding for Safe Harbor, the Office of Missing & Murdered Black Women & Girls, and the Office of Missing & Murdered Indigenous Relatives. The Governor-appointed Young Women's Cabinet created a comprehensive policy agenda and elected policy leaders to advance bills affecting their lives. To prepare for their advocacy, young women received rigorous policy training using a curriculum that centers people of color to engage in policy for systems change. Cabinet members were active in testifying, writing letters of support, and increasing awareness of their policy agenda issues.State & National PartnershipsWFM engages in collaborative funding and partnerships within Minnesota's foundation community dedicated to social change grantmaking. We are a member of several funder collaboratives, including the National Philanthropic Collaborative of Young Women's Initiatives, Women's Funding Network, Minnesota Council of Foundations, Reproductive Health Alliance, Grantmakers for Effective Organizations, and Mission Investors Exchange.

    Expenses $450,041

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

    Expenses $1,176,396 · Grants $525,239

As filed on the 2022 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

  • Nevada Littlewolf

    Chair

    Total calculated
    $0
    Hours/week
    2
  • Chanda Smith Baker

    Vice Chair

    Total calculated
    $0
    Hours/week
    2
  • Debarati Sen

    Treasurer

    Total calculated
    $0
    Hours/week
    2
  • George Martin

    Secretary

    Total calculated
    $0
    Hours/week
    2
  • Brenda Quaye

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Anita Patel

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Adair Mosely

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Sandra Vargas

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Valerie Spencer

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Fatima Said

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Vanessa Goodthunder

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Katherine Hayes

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Ed Heisler

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Kris Maritz

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Rajni Shah

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Elizabeth Tolzmann

    Trustee

    Total calculated
    $0
    Hours/week
    1
  • Gloria Perez

    President and CEO

    Total calculated
    $284,204
    From this org
    $250,361
    From related orgs
    $0
    Other
    $33,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,337
    Bonus
    $2,500
    Other
    $524
    Deferred
    $17,525
    Nontaxable benefits
    $16,317
    Filer's total
    $284,203
  • Heidi Walsh

    VP Finance and Operations

    Total calculated
    $213,661
    From this org
    $175,953
    From related orgs
    $0
    Other
    $37,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,725
    Bonus
    $5,000
    Other
    $228
    Deferred
    $12,596
    Nontaxable benefits
    $25,112
    Filer's total
    $213,661
  • Chanida Potter

    VP Narrative Change

    Total calculated
    $112,625
    From this org
    $109,891
    From related orgs
    $0
    Other
    $2,734
    Hours/week
    40
  • Jennifer Lowman Day

    Director Communications

    Total calculated
    $142,190
    From this org
    $114,946
    From related orgs
    $0
    Other
    $27,244
    Hours/week
    40
  • LaCora Bradford Kesti

    VP Community Impact

    Total calculated
    $124,202
    From this org
    $117,180
    From related orgs
    $0
    Other
    $7,022
    Hours/week
    40
  • Elizabeth KingSr Dev and

    Planned Giving Officer

    Total calculated
    $109,304
    From this org
    $102,156
    From related orgs
    $0
    Other
    $7,148
    Hours/week
    40
  • Carolyn Van Nelson

    Controller

    Total calculated
    $122,933
    From this org
    $106,208
    From related orgs
    $0
    Other
    $16,725
    Hours/week
    40

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
2022
Filed
25 September 2023
IRS schema version
2022v5.0
Source object
202322709349301247

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

The source document this was parsed from is served over the API, which is where bulk and document access live.