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Nonprofiteer
← SAINT PAUL & MINNESOTA FOUNDATION

Form 990 for tax year 2023

Filed by SAINT PAUL & MINNESOTA FOUNDATION.

Totals

Total revenue
$114,417,024
Total expenses
$126,875,839
Contributions and grants received
$67,242,093
Grants paid
$103,604,968
Program service revenue
$1,321,335
Investment income
$45,391,496
Other revenue
$462,100
Total assets, end of year
$1,554,597,163
Total liabilities, end of year
$12,359,648
Net assets or fund balances, end of year
$1,542,237,515
Program services expenses (Part IX)
$112,631,049
Management and general expenses
$10,258,348
Fundraising expenses
$3,986,442
Program service expenses (Part III)
$112,631,049

Program services were 88.8% 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.

  • 1a · Federated campaigns

    $3,209,072

  • 1c · Fundraising events

    $15,896

  • 1e · Government grants (contributions)

    $7,402,881

  • 1f · All other contributions, gifts and grants

    $56,614,244

  • 1g · Noncash contributions included above

    $19,079,367

  • 2a · Program service revenue: FEES FOR SERVICES

    total $726,737 · related or exempt $726,737

  • 2b · Program service revenue: PRIVATE FOUNDATION SERVICES

    total $318,826 · unrelated business $318,826

  • 2c · Program service revenue: PROGRAM INTEREST

    total $275,772 · related or exempt $275,772

  • 3 · Investment income

    total $34,588,977 · excluded $34,588,977

  • 7a · Gross sales of assets other than inventory

    securities $412,484,282

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

    securities $401,681,763

  • 7c · Gain or loss

    securities $10,802,519

  • 7d · Net gain or loss

    total $10,802,519 · excluded $10,802,519

  • 8a · Fundraising events: gross income

    $9,345

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

    $15,896

  • 8b · Fundraising events: direct expenses

    $9,230

  • 8c · Net income from fundraising events

    total $115 · excluded $115

  • 11a · Other revenue: MISCELLANEOUS

    total $461,985 · related or exempt $461,985

  • 11e · Other revenue, total

    $461,985

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $102,503,101 · program services $102,503,101

  • 2 · Grants to domestic individuals

    total $1,101,867 · program services $1,101,867

  • 5 · Compensation of officers, directors and key employees

    total $2,664,723 · program services $544,511 · management and general $1,542,873 · fundraising $577,339

  • 7 · Other salaries and wages

    total $4,975,124 · program services $2,311,901 · management and general $647,711 · fundraising $2,015,512

  • 8 · Pension plan contributions

    total $576,214 · program services $214,156 · management and general $181,935 · fundraising $180,123

  • 9 · Other employee benefits

    total $558,692 · program services $188,143 · management and general $211,099 · fundraising $159,450

  • 10 · Payroll taxes

    total $576,424 · program services $187,327 · management and general $220,534 · fundraising $168,563

  • 11b · Fees: legal

    total $80,682 · program services $1,200 · management and general $79,482

  • 11c · Fees: accounting

    total $150,417 · program services $2,555 · management and general $147,862

  • 11d · Fees: lobbying

    total $50,133 · program services $50,133

  • 11e · Fees: professional fundraising services

    total $170,274 · fundraising $170,274

  • 11f · Fees: investment management

    total $6,113,342 · management and general $6,113,342

  • 11g · Fees: other

    total $1,694,805 · program services $1,414,486 · management and general $131,195 · fundraising $149,124

  • 12 · Advertising and promotion

    total $626,950 · program services $119,946 · management and general $484,407 · fundraising $22,597

  • 13 · Office expenses

    total $146,568 · program services $67,657 · management and general $44,725 · fundraising $34,186

  • 14 · Information technology

    total $429,015 · program services $204,390 · management and general $75,050 · fundraising $149,575

  • 16 · Occupancy

    total $442,773 · program services $143,894 · management and general $169,399 · fundraising $129,480

  • 17 · Travel

    total $35,064 · program services $11,396 · management and general $13,414 · fundraising $10,254

  • 19 · Conferences, conventions and meetings

    total $322,743 · program services $170,201 · management and general $48,268 · fundraising $104,274

  • 22 · Depreciation, depletion and amortization

    total $94,108 · program services $30,582 · management and general $36,006 · fundraising $27,520

  • 23 · Insurance

    total $186,304 · program services $60,546 · management and general $71,277 · fundraising $54,481

  • 24a · Other expenses: GIFT ANNUITY DISTRIBUTI

    total $2,868,562 · program services $2,868,562

  • 24b · Other expenses: MISCELLANEOUS

    total $482,385 · program services $408,926 · management and general $39,769 · fundraising $33,690

  • 24c · Other expenses: PROGRAM LOAN EXPENSE

    total $25,569 · program services $25,569

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $118,994,429 · end of year $122,152,064

  • 3 · Pledges and grants receivable

    beginning of year $8,083,859 · end of year $2,591,131

  • 4 · Accounts receivable

    beginning of year $222,414 · end of year $258,691

  • 9 · Prepaid expenses and deferred charges

    beginning of year $131,666 · end of year $184,031

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

    $1,123,733

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

    $941,723

  • 10c · Land, buildings and equipment, net

    beginning of year $276,118 · end of year $182,010

  • 11 · Investments: publicly traded securities

    beginning of year $691,874,151 · end of year $753,897,644

  • 12 · Investments: other securities

    beginning of year $626,897,998 · end of year $663,926,214

  • 13 · Investments: program-related

    beginning of year $7,316,725 · end of year $7,387,532

  • 15 · Other assets

    beginning of year $3,323,811 · end of year $4,017,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,220,609 · end of year $1,264,294

  • 18 · Grants payable

    beginning of year $7,739,138 · end of year $9,417,834

  • 25 · Other liabilities

    beginning of year $1,976,012 · end of year $1,677,520

  • 27 · Net assets without donor restrictions

    beginning of year $1,414,675,203 · end of year $1,510,207,715

  • 28 · Net assets with donor restrictions

    beginning of year $31,510,209 · end of year $32,029,800

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

WE INSPIRE GENEROSITY, ADVOCATE FOR EQUITY AND INVEST IN COMMUNITY-LED SOLUTIONS.

  • WE WORK WITH DONORS, PROFESSIONAL AND LEGAL ADVISORS, NONPROFIT ORGANIZATIONS AND LOCAL LEADERS TO IDENTIFY AND SUPPORT CRITICAL NEEDS ACROSS THE STATE OF MINNESOTA. WE HELP DONORS ACHIEVE THEIR CHARITABLE GOALS AND ADDRESS CRITICAL ISSUES FACING COMMUNITIES AROUND THE STATE. WE PROVIDE SEVERAL GRANTMAKING PROGRAMS THAT SUPPORT NONPROFITS ACROSS STATE OF MINNESOTA. OUR TWICE-YEARLY BUILDING COMMUNITY CAPACITY ENDOWMENT GRANT PROGRAM PROVIDES CRITICAL FUNDING IN THE SIX PRIORITY AREAS OF COMMUNITY CONNECTEDNESS; ECONOMIC OPPORTUNITY AND SECURITY; EDUCATION; HEALTH; HOUSING AND TRANSPORTATION; AND HUMAN SERVICES AND FAMILY SUPPORT. YOU CAN LEARN MORE ABOUT OUR BUILDING COMMUNITY CAPACITY GRANTING PROGRAM BY GOING TO HTTPS://SPMCF.ORG/WHO-WE-ARE/NONPROFITS-WE-FUND.

    Expenses $99,373,352 · Grants $93,282,916 · Revenue $275,772

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

    Expenses $11,253,230 · Grants $9,220,185

  • WE SUPPORT EFFECTIVE GRANTMAKING AND PROVIDE ADMINISTRATIVE SERVICES FOR A WIDE VARIETY OF FUNDS AND FOUNDATIONS SERVING MINNESOTA AND THE EAST METRO AREA, INCLUDING DAKOTA, RAMSEY AND WASHINGTON COUNTIES.

    Expenses $902,600 · Revenue $1,188,722

  • THE FOUNDATION PROVIDES GRANTS TO INDIVIDUALS THROUGH THE COMMUNITY SHARING FUND AND J.C. AND L.A. DUKE EMPLOYEES ASSISTANCE FUND. THE COMMUNITY SHARING FUND PROVIDES SMALL GRANTS TO HELP INDIVIDUALS AND FAMILIES WEATHER A TEMPORARY SETBACK AND KEEP IT FROM BECOMING A MAJOR CRISIS. GRANTS HAVE BEEN USED TO HELP MAINTAIN TRANSPORTATION TO A JOB, COVER RENT OR PAY FOR CHILDCARE. THROUGH A NETWORK OF SOCIAL WORKERS, INDIVIDUALS CAN ACCESS THE FUND WHEN ALL OTHER FORMS OF EMERGENCY ASSISTANCE HAVE BEEN EXHAUSTED. 646 GRANTS WERE APPROVED FROM THE COMMUNITY SHARING FUND DURING 2023. THE DUKE FUND PROVIDES ASSISTANCE TO 3M EMPLOYEES WHO HAVE EXPERIENCED A CATASTROPHIC ILLNESS OR ACCIDENT. GRANTS HELP EMPLOYEES REGAIN SELF-SUFFICIENCY AND RETURN TO THE WORKPLACE. SUPPORT IS DESIGNED TO HELP EMPLOYEES THROUGH A TRANSITION AND IS NOT INDEFINITE. 113 GRANTS WERE APPROVED FROM THE DUKE FUND DURING 2023.

    Expenses $1,101,867 · Grants $1,101,867

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

  • DIANE TRAN

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH LEE

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JANICE ANGELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHE BECK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLARENCE BETHEA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL ECHOLS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JILL FARRINGTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS GALVIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JACY GRAIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ERIC HAMMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK HENNEMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NAUSHEENA HUSSAIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NANCY LYONS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MATT MAJKA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN MARVIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARY JANE MELENDEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ADINE S MOMOH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GLORIA PEREZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIGUEL RAMOS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RICHARD SENESE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ALEX WEST STEINMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TAREK TOMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KATHY TUNHEIM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BO THAO-URABE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ERIC JOLLY

    PRESIDENT AND SECRETARY

    Total calculated
    $759,578
    From this org
    $553,916
    From related orgs
    $0
    Other
    $205,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $553,916
    Bonus
    $0
    Other
    $0
    Deferred
    $183,000
    Nontaxable benefits
    $22,662
    Filer's total
    $759,578

  • SCOTT ZASTOUPIL

    CHIEF FINANCIAL OFFICER, TREASURER

    Total calculated
    $269,405
    From this org
    $237,564
    From related orgs
    $0
    Other
    $31,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,564
    Bonus
    $0
    Other
    $0
    Deferred
    $24,122
    Nontaxable benefits
    $7,719
    Filer's total
    $269,405

  • SHANNON O'LEARY

    CHIEF INVESTMENT OFFICER

    Total calculated
    $556,258
    From this org
    $521,303
    From related orgs
    $0
    Other
    $34,955
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $521,303
    Bonus
    $0
    Other
    $0
    Deferred
    $33,000
    Nontaxable benefits
    $1,955
    Filer's total
    $556,258

  • NADEGE SOUVENIR

    SVP OF OPERATIONS

    Total calculated
    $322,202
    From this org
    $290,358
    From related orgs
    $0
    Other
    $31,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,358
    Bonus
    $0
    Other
    $0
    Deferred
    $28,981
    Nontaxable benefits
    $2,863
    Filer's total
    $322,202

  • JEREMY WELLS

    SVP PHILANTHROPIC SERVICES

    Total calculated
    $317,618
    From this org
    $268,950
    From related orgs
    $0
    Other
    $48,668
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,950
    Bonus
    $0
    Other
    $0
    Deferred
    $28,367
    Nontaxable benefits
    $20,301
    Filer's total
    $317,618

  • MELANIE HOFFERT

    CHIEF MARKETING OFFICER

    Total calculated
    $252,139
    From this org
    $223,182
    From related orgs
    $0
    Other
    $28,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,182
    Bonus
    $0
    Other
    $0
    Deferred
    $22,543
    Nontaxable benefits
    $6,414
    Filer's total
    $252,139

  • ANIL HURKADLI

    SVP COMMUNITY IMPACT

    Total calculated
    $187,524
    From this org
    $168,235
    From related orgs
    $0
    Other
    $19,289
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,566
    Bonus
    $0
    Other
    $54,669
    Deferred
    $11,705
    Nontaxable benefits
    $7,584
    Filer's total
    $187,524

  • CARRIE JO SHORT

    SR DIRECTOR OF COMMUNITY IMPACT

    Total calculated
    $197,703
    From this org
    $173,405
    From related orgs
    $0
    Other
    $24,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,405
    Bonus
    $2,000
    Other
    $0
    Deferred
    $17,899
    Nontaxable benefits
    $6,399
    Filer's total
    $197,703

  • CASEY SHULTZ

    DIRECTOR OF COMMUNITY & IMPACT INVESTMENT

    Total calculated
    $192,869
    From this org
    $172,846
    From related orgs
    $0
    Other
    $20,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,846
    Bonus
    $0
    Other
    $0
    Deferred
    $17,988
    Nontaxable benefits
    $2,035
    Filer's total
    $192,869

  • MAI-ANH TRAN

    AVP OF PHILANTHROPIC SERVICES

    Total calculated
    $196,238
    From this org
    $172,363
    From related orgs
    $0
    Other
    $23,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,363
    Bonus
    $0
    Other
    $0
    Deferred
    $17,288
    Nontaxable benefits
    $6,587
    Filer's total
    $196,238

  • RHONDA COX

    AVP OF HUMAN RESOURCES

    Total calculated
    $204,122
    From this org
    $170,885
    From related orgs
    $0
    Other
    $33,237
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,885
    Bonus
    $0
    Other
    $0
    Deferred
    $17,496
    Nontaxable benefits
    $15,741
    Filer's total
    $204,122

  • ANNE TAFF

    VICE PRESIDENT OF PARTNERSHIPS

    Total calculated
    $206,514
    From this org
    $170,241
    From related orgs
    $0
    Other
    $36,273
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,741
    Bonus
    $2,500
    Other
    $0
    Deferred
    $18,448
    Nontaxable benefits
    $17,825
    Filer's total
    $206,514

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

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
ANIL HURKADLI RECEIVED A SEVERANCE PAYMENT OF $54,669.

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.

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.

  • RED WING PROPERTY CONSERVATION FUND

    501(C)(3) · MAINTENANCE AND OPERATION OF HISTORIC TRAIN DEPOT IN RED WING MINNESOTA · MN · controlled entity

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • THE MARVIN WARROAD AREA FOUNDATION

    501(C)(3) · CHARITABLE GIVING AND SUPPORT THE SAINT PAUL & MINNESOTA FOUNDATION · MN · controlled entity

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • THE JONES FAMILY FOUNDATION

    501(C)(3) · SUPPORT THE ENDEAVORS THAT IMPACT THE QUALITY OF LIFE IN THE RED WING AREA · MN · controlled entity

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • TAYLOR FAMILY FARMS FOUNDATION INC

    501(C)(3) · PHILANTHROPIC GRANTMAKING · IA

    Directly controlled by SAINT PAUL & MINNESOTA FDN MANKATO AREA FDN SOUTHERN MN INITIATIVE FDN

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • THE COMMUNITY INVESTMENT GROUP

    INVESTMENT · INVESTMENT · MN · 82.95% owned · share of income $33,251,401 · share of assets $1,207,238,755 · general or managing partner

    Directly controlled by THE SAINT PAUL & MINNESOTA FOUNDATION

Related corporations and trusts

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

  • CHARITABLE REMAINDER ANNUITY TRUSTS (3)

    T · CHARITABLE REMAINDER TRUSTS · MN

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • CHARITABLE REMAINDER UNITRUSTS (20)

    T · CHARITABLE REMAINDER TRUSTS · MN

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • CHARITABLE GIFT ANNUITIES (44)

    T · CHARITABLE GIFT ANNUITIES · MN

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

  • CHARITABLE LIFE ESTATES (2)

    T · CHARITABLE LIFE ESTATES · MN

    Directly controlled by SAINT PAUL & MINNESOTA FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.1
Source object
202442349349300824

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