Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $4,023

• 1f · All other contributions, gifts and grants

  $98,047,612

• 1g · Noncash contributions included above

  $21,215,123

• 2a · Program service revenue: ADMINISTRATIVE FEES

  total $968,283 · related or exempt $968,283

• 2b · Program service revenue: EMPLOYEE ASSISTANCE FUND MGMT FEE

  total $369,925 · related or exempt $369,925

• 3 · Investment income

  total $21,928,393 · unrelated business $2,505,270 · excluded $19,423,123

• 5 · Royalties

  total $53,853 · excluded $53,853

• 7a · Gross sales of assets other than inventory

  securities $275,176,392

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

  securities $249,572,781 · other assets $71,975

• 7c · Gain or loss

  securities $25,603,611 · other assets -$71,975

• 7d · Net gain or loss

  total $25,531,636 · excluded $25,531,636

• 8a · Fundraising events: gross income

  $3,700

• 8a · Fundraising events: contributions included on line 1c

  $4,023

• 8b · Fundraising events: direct expenses

  $5,741

• 8c · Net income from fundraising events

  total -$2,041 · excluded -$2,041

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $107,300,538 · program services $107,300,538

• 2 · Grants to domestic individuals

  total $5,786,438 · program services $5,786,438

• 3 · Grants to foreign organizations and individuals

  total $896,054 · program services $896,054

• 5 · Compensation of officers, directors and key employees

  total $1,570,393 · program services $807,182 · management and general $364,331 · fundraising $398,880

• 7 · Other salaries and wages

  total $5,830,897 · program services $2,913,055 · management and general $1,361,754 · fundraising $1,556,088

• 8 · Pension plan contributions

  total $426,211 · program services $186,550 · management and general $145,674 · fundraising $93,987

• 9 · Other employee benefits

  total $645,377 · program services $283,096 · management and general $223,199 · fundraising $139,082

• 10 · Payroll taxes

  total $516,622 · program services $243,991 · management and general $157,689 · fundraising $114,942

• 11b · Fees: legal

  total $115,872 · program services $57,692 · management and general $26,852 · fundraising $31,328

• 11c · Fees: accounting

  total $119,056 · management and general $119,056

• 11d · Fees: lobbying

  total $48,026 · program services $31,210 · management and general $8,408 · fundraising $8,408

• 11f · Fees: investment management

  total $2,493,351 · management and general $2,493,351

• 11g · Fees: other

  total $3,821,400 · program services $3,591,412 · management and general $109,777 · fundraising $120,211

• 12 · Advertising and promotion

  total $482,856 · program services $411,491 · management and general $15,157 · fundraising $56,208

• 13 · Office expenses

  total $241,712 · program services $70,846 · management and general $134,413 · fundraising $36,453

• 14 · Information technology

  total $1,045,598 · program services $734,580 · management and general $177,657 · fundraising $133,361

• 16 · Occupancy

  total $641,012 · program services $265,697 · management and general $218,934 · fundraising $156,381

• 17 · Travel

  total $85,682 · program services $51,270 · management and general $7,034 · fundraising $27,378

• 19 · Conferences, conventions and meetings

  total $1,004,321 · program services $877,321 · management and general $54,827 · fundraising $72,173

• 22 · Depreciation, depletion and amortization

  total $254,512 · program services $109,077 · management and general $84,837 · fundraising $60,598

• 23 · Insurance

  total $116,586 · management and general $116,586

• 24a · Other expenses: STAFF DEVELOPMENT

  total $261,326 · program services $121,332 · management and general $52,243 · fundraising $87,751

• 24b · Other expenses: LICENCES, PERMITS, FEES

  total $164,008 · program services $101,380 · management and general $28,964 · fundraising $33,664

• 24c · Other expenses: PRINTING AND PUBLICATIO

  total $97,374 · program services $90,601 · management and general $1,353 · fundraising $5,420

• 24d · Other expenses: BUSINESS TAXES

  total $18,202 · management and general $18,202

• 24e · All other expenses

  total $213,015 · program services $183,381 · management and general $456 · fundraising $29,178

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $33,925,190 · end of year $45,564,976

• 2 · Savings and temporary cash investments

  end of year $250,000

• 3 · Pledges and grants receivable

  beginning of year $500,000 · end of year $1,850,000

• 4 · Accounts receivable

  beginning of year $65,263 · end of year $564,426

• 7 · Other notes and loans receivable

  beginning of year $11,917,945 · end of year $5,580,350

• 9 · Prepaid expenses and deferred charges

  beginning of year $31,354 · end of year $4,161

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

  $4,976,625

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

  $3,880,974

• 10c · Land, buildings and equipment, net

  beginning of year $542,103 · end of year $1,095,651

• 11 · Investments: publicly traded securities

  beginning of year $639,718,212 · end of year $585,912,549

• 12 · Investments: other securities

  beginning of year $302,245,292 · end of year $445,532,105

• 15 · Other assets

  beginning of year $50,231,044 · end of year $47,711,937

• 17 · Accounts payable and accrued expenses

  beginning of year $2,299,209 · end of year $1,500,249

• 18 · Grants payable

  beginning of year $8,576,209 · end of year $2,944,469

• 19 · Deferred revenue

  beginning of year $8,588,825 · end of year $14,505,150

• 21 · Escrow or custodial account liability

  beginning of year $32,750,824 · end of year $36,310,674

• 25 · Other liabilities

  beginning of year $13,155,253 · end of year $13,655,263

• 27 · Net assets without donor restrictions

  beginning of year $866,654,987 · end of year $953,152,467

• 28 · Net assets with donor restrictions

  beginning of year $107,151,096 · end of year $111,997,883

The filer's explanations (Part III)

PART I, LINE 1A

HEALTH/SOCIAL CLUB OR INITIATION FEES WERE PAID ON BEHALF OF R.T. RYBAK, CHRISTOPHER BEACH, CHANDA SMITH BAKER, MILPHA BLAMO, AND PATRICE RELERFORD IN THE AMOUNTS OF $4,518, $4,808, $751, $600, AND $600 RESPECTIVELY. THESE AMOUNTS WERE NOT INCLUDED IN THEIR 2023 TAXABLE COMPENSATION AS THEY WERE FOR BUSINESS PURPOSES ONLY AND THEREFORE CONSTITUTE A NON-TAXABLE WORKING CONDITION FRINGE.

PART I, LINE 4A

CHANDRA SMITH BAKER, FORMER CHIEF IMPACT OFFICER, RECEIVED A SEVERANCE PAYMENT FOR $70,000.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (34)

  T · TRUST INVESTMENTS · MN · controlled entity

  Directly controlled by MINNEAPOLIS FOUNDATION

• CHARITABLE LEAD TRUSTS (9)

  T · TRUST INVESTMENTS · MN · controlled entity

  Directly controlled by MINNEAPOLIS FOUNDATION