Form 990 for tax year 2023

Totals

Total revenue

$1,909,121

Total expenses

$2,217,233

Contributions and grants received

$1,581,533

Grants paid

$969,082

Program service revenue

$324,250

Investment income

$188

Other revenue

$3,150

Total assets, end of year

$2,444,110

Total liabilities, end of year

$207,723

Net assets or fund balances, end of year

$2,236,387

Program services expenses (Part IX)

$1,922,369

Management and general expenses

$35,208

Fundraising expenses

$259,656

Program service expenses (Part III)

$1,922,369

Program services were 86.7% 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.

Mission and programs · 2023

• DISTRIBUTION OF FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES, THEIR STUDENTS, AND FUND-OPERATED SCHOLARSHIP PROGRAMS THAT SUPPORT STUDENTS AT MEMBER PRIVATE COLLEGES. EVERY DOLLAR RAISED THROUGH FUNDRAISING GOES DIRECTLY TO (1) THE 17 MEMBER INSTITUTIONS IN THE FORM OF GENERAL OPERATING SUPPORT, AND (2) TO STUDENTS ENROLLED IN MEMBER INSTITUTIONS IN THE FORM OF SCHOLARSHIPS. EACH MEMBER INSTITUTION PAYS ANNUAL DUES TO MPCF, WHICH COVER ALL THE FUND'S GENERAL OVERHEAD, FUNDRAISING, AND ADMINISTRATIVE EXPENSES.

  Expenses $969,062 · Grants $969,062 · Revenue $327,400

• THE INNOVATION SCHOLARS PROGRAM IS A COLLABORATIVE PROGRAM OFFERING SELECTED MULTI-DISCIPLINARY TEAMS OF STUDENTS THE OPPORTUNITY TO RESEARCH PROJECTS WITH START-UP AND EARLY-STAGE MEDICAL COMPANIES AND THE MAYO CLINIC. INNOVATION SCHOLARS PROGRAMMING EXPOSES STUDENTS TO THE AMBIGUITIES OF "REAL WORLD" INNOVATION AND ENTREPRENEURSHIP, THE ROLE OF TEAMWORK, CROSS-DISCIPLINARY COLLABORATION, IN-DEPTH RESEARCH, ANALYSIS, AND CREATIVITY. THIRTEENTH INSTITUTIONS AND 60 STUDENTS PARTICIPATED IN 2023-2024.

  Expenses $210,273

• TRAILBLAZERS OFFERS A UNIQUE TWO-YEAR LEADERSHIP PROGRAM FOR BLACK MEN AT OUR MEMBER COLLEGES. THE PROGRAM COMBINES A TWO-YEAR SCHOLARSHIP WITH COMPREHENSIVE ACADEMIC AND PROFESSIONAL ADVISING, CULTURALLY RELEVANT MENTORING, LEADERSHIP DEVELOPMENT, FINANCIAL LITERACY PROGRAMMING, EXPERIENTIAL LEARNING, NETWORKING OPPORTUNITIES WITH BLACK PROFESSIONALS, AND CAREER PREPARATION.

  Expenses $743,034 · Grants $20

As filed on the 2023 return.

Listed in Part VII

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

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

• UNIVERSITY OF ST THOMAS

  $168,665

  OPERATIONS, STUDENT SCHOLARSHIPS

• CONCORDIA COLLEGE

  $93,917

  OPERATIONS, STUDENT SCHOLARSHIPS

• GUSTAVUS ADOLPHUS COLLEGE

  $80,090

  OPERATIONS, STUDENT SCHOLARSHIPS

• AUGSBURG COLLEGE

  $77,642

  OPERATIONS, STUDENT SCHOLARSHIPS

• ST CATHERINE UNIVERSITY

  $71,975

  OPERATIONS, STUDENT SCHOLARSHIPS

• SAINT JOHN'S UNIVERSITY

  $62,396

  OPERATIONS, STUDENT SCHOLARSHIPS

• SAINT MARY'S UNIVERSITY OF MINNESOTA

  $57,970

  OPERATIONS, STUDENT SCHOLARSHIPS

• MINNEAPOLIS COLLEGE OF ART & DESIGN

  $55,642

  OPERATIONS, STUDENT SCHOLARSHIPS

• ST OLAF COLLEGE

  $52,603

  OPERATIONS, STUDENT SCHOLARSHIPS

• CARLETON COLLEGE

  $49,249

  OPERATIONS, STUDENT SCHOLARSHIPS

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• PARTNERS FOR EDUCATION OPPORTUNITY

  501(C)(4) · HIGHER EDUCATION RELATED ACTIVITY · MN

• MINNESOTA PRIVATE COLLEGE COUNCIL INC

  501(C)(4) · HIGHER EDUCATION RELATED ACTIVITY · MN

Provenance

Return type

form_990

Tax year

2023

Filed

20 January 2025

IRS schema version

2023v6.0

Source object

202500219349300825

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.