Form 990 for tax year 2024

Totals

Total revenue

$1,771,507

Total expenses

$2,087,961

Contributions and grants received

$1,428,377

Grants paid

$918,864

Program service revenue

$339,577

Investment income

$332

Other revenue

$3,221

Total assets, end of year

$2,083,910

Total liabilities, end of year

$163,977

Net assets or fund balances, end of year

$1,919,933

Program services expenses (Part IX)

$1,603,273

Management and general expenses

$57,858

Fundraising expenses

$426,830

Program service expenses (Part III)

$1,603,273

Program services were 76.8% 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.

Mission and programs · 2024

• 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 CONTRIBUTED TO THE FUND IS DISTRIBUTED AS FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES, NEED-BASED SCHOLARSHIPS AT MEMBER COLLEGES, AND FINANCIAL SUPPORT FOR FUND-OPERATED SPECIAL SCHOLARSHIP PROGRAMS THAT SUPPORT STUDENTS AT MEMBER COLLEGES. EACH MEMBER INSTITUTION PAYS ANNUAL DUES TO MPCF, WHICH COVER ALL THE FUND'S GENERAL OVERHEAD, FUNDRAISING, AND ADMINISTRATIVE EXPENSES.

  Expenses $918,864 · Grants $918,864 · Revenue $339,577

• 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. TWELVE INSTITUTIONS AND 55 STUDENTS PARTICIPATED IN FISCAL 2025.

  Expenses $202,799

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

  Expenses $481,610

As filed on the 2024 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

  $132,988

  OPERATIONS, STUDENT SCHOLARSHIPS

• AUGSBURG COLLEGE

  $67,652

  OPERATIONS, STUDENT SCHOLARSHIPS

• ST OLAF COLLEGE

  $66,776

  OPERATIONS, STUDENT SCHOLARSHIPS

• HAMLINE UNIVERSITY

  $63,394

  OPERATIONS, STUDENT SCHOLARSHIPS

• ST CATHERINE UNIVERSITY

  $62,099

  OPERATIONS, STUDENT SCHOLARSHIPS

• MACALESTER COLLEGE

  $57,002

  OPERATIONS, STUDENT SCHOLARSHIPS

• CONCORDIA COLLEGE

  $56,510

  OPERATIONS, STUDENT SCHOLARSHIPS

• COLLEGE OF ST SCHOLASTICA

  $55,883

  OPERATIONS, STUDENT SCHOLARSHIPS

• GUSTAVUS ADOLPHUS COLLEGE

  $51,449

  OPERATIONS, STUDENT SCHOLARSHIPS

• CONCORDIA UNIVERSITY

  $50,886

  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

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.

Provenance

Return type

form_990

Tax year

2024

Filed

20 October 2025

IRS schema version

2024v5.2

Source object

202533109349301683

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

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