Saint Paul & Minnesota Foundation
89% goes to programs $6 to raise $100 Strong reserves Declining revenue
Saint Paul & Minnesota Foundation is a 501(c)(3) organization based in Saint Paul, Minnesota, registered in 1995, with $114,417,024 in FY2023 revenue. CharityIndex grades it B+, and it directs about 89% of spending to programs.
370 Wabasha St N Ste 300, Saint Paul, MN, 55102 EIN 41-6031510 Since 1995
Revenue (FY2023)
$114.4M
▼ 7.0% vs prior year
Philanthropy median: $168K
Expenses (FY2023)
$126.9M
Net assets
$1.5B
Employees
84
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating89% to programs · $6 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Saint Paul & Minnesota Foundation: 89% to programs · $6 to raise $100 earns a A on this criterion. See the exact thresholds →
C+Financial health25% of the rating146 mo reserves · -11% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Saint Paul & Minnesota Foundation: 146 mo reserves · -11% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Saint Paul & Minnesota Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Saint Paul & Minnesota Foundation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
We inspire generosity, advocate for equity and invest in community-led solutions.
What they do
Through community initiatives innovative and responsive programs that directly serve people in the community- we can support and address timely issues. a current initiative is the east metro main street economic revitalization program in partnership with the minnesota department of employment and economic development (deed). state funding of $7 million was awarded to projects in the snelling-university-rice cultural district, the east side community and along west seventh street in saint paul. an additional $2.15 million was raised and distributed to further support applicants to meet program matching fund requirements and complete projects. we prioritized projects led by and serving black, indigenous, asian, latino, new americans, immigrants, refuges, people with disabilities, lgbtqi communities, veterans, low-income communities, or other communities that have been historically under-and dis-invested in by traditional funding, and 100% of projects met these criteria. more than 85% of the projects were owned or led by people of color.
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.
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.
Contact & location
- Address
- 370 Wabasha St N Ste 300, Saint Paul, MN, 55102
- City
- Saint Paul
- State
- Minnesota
- Subcategory
- Public Foundations
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $87.7M (FY2013) to $114.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $12.4MNet assets $1.5B
Operating margin
-10.9%
Spent more than it raised in the latest fiscal year.
Total assets
$1.6B
Total liabilities
$12.4M
Net assets
$1.5B
Salaries & benefits
$9.4M
7% of expenses
Board members
24
24 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $114,417,024▼7.0% | $126,875,839▲12.4% | $1,542,237,515▲6.6% | $1,554,597,163▲6.7% | 990 |
| 2022 | $122,971,818▼59.3% | $112,915,952▼12.1% | $1,446,185,412▼12.6% | $1,457,121,171▼12.7% | 990 |
| 2021 | $301,856,819▼35.3% | $128,433,023▲7.1% | $1,653,990,889▲14.9% | $1,669,011,772▲14.7% | 990 |
| 2020 | $466,800,402▲294% | $119,923,634▲68.7% | $1,439,259,797▲45.7% | $1,455,475,706▲45.3% | 990 |
| 2019 | $118,527,281▲8.6% | $71,078,537▼3.1% | $987,705,724▲14.7% | $1,001,580,688▲14.4% | 990 |
| 2018 | $109,181,391▼8.9% | $73,339,461▼4.4% | $861,120,999▼6.6% | $875,742,688▼6.5% | 990 |
| 2017 | $119,822,337▲69.2% | $76,717,221▲18.9% | $922,256,096▲11.7% | $936,308,381▲11.8% | 990 |
| 2016 | $70,805,559▼5.4% | $64,514,320▲4.7% | $825,436,330▲5.6% | $837,658,126▲5.2% | 990 |
| 2015 | $74,826,640▼28.0% | $61,627,445▼6.9% | $781,871,500▼1.9% | $796,613,438▼2.0% | 990 |
| 2014 | $103,858,176▲18.4% | $66,168,397▼6.6% | $796,980,523▲3.5% | $813,150,586▲3.6% | 990 |
| 2013 | $87,728,997 | $70,808,535▼23.5% | $770,043,035▲13.3% | $785,003,567▲12.9% | 990 |
| 2012 | — | $92,525,679▲31.0% | $679,594,991▲2.2% | $695,259,473▲3.0% | 990 |
| 2011 | — | $70,638,294▲19.9% | $664,722,257▼2.5% | $675,284,221▼3.7% | 990 |
| 2010 | — | $58,915,142 | $681,499,839 | $701,152,206 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Eric Jolly — $553,916 (0.44% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Eric Jolly | President and Secretary | 40 | $553,916 |
| Shannon O'leary | Chief Investment Officer | 40 | $521,303 |
| Nadege Souvenir | Svp of Operations | 40 | $290,358 |
| Jeremy Wells | Svp Philanthropic Services | 40 | $268,950 |
| Scott Zastoupil | Chief Financial Officer, Treasurer | 40 | $237,564 |
| Melanie Hoffert | Chief Marketing Officer | 40 | $223,182 |
| Carrie Jo Short | Sr Director of Community Impact | 40 | $173,405 |
| Casey Shultz | Director of Community & Impact Investment | 40 | $172,846 |
| Mai-anh Tran | Avp of Philanthropic Services | 40 | $172,363 |
| Rhonda Cox | Avp of Human Resources | 40 | $170,885 |
| Anne Taff | Vice President of Partnerships | 40 | $170,241 |
| Anil Hurkadli | Svp Community Impact | 40 | $168,235 |
| Adine S Momoh | Board Member | 1 | — |
| Alex West Steinman | Board Member | 1 | — |
| Bo Thao-urabe | Board Member | 1 | — |
| Chris Galvin | Board Member | 1 | — |
| Christophe Beck | Board Member | 1 | — |
| Clarence Bethea | Board Member | 1 | — |
| Diane Tran | Board Chair | 1 | — |
| Eric Hammes | Board Member | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Catchafire Inc | Program Consultant | $568,000 |
| Whittier Advertising Inc | Communications | $470,695 |
| Verus Advisory Inc | Investment Advisory Services | $295,000 |
| Atomic Data | It Consulting | $269,586 |
| 10seven | Program Consultant | $267,750 |
Grants received · $10.6M total
120 grants to Saint Paul & Minnesota Foundation totaling $10.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Endowment Foundation | Philanthropy | 2024 | $601,793 |
| Minneapolis Foundation | Donor advised, public affairs/society benefit | 2024 | $346,511 |
| Taylor Family Farms Foundation Inc | General operations | 2024 | $300,000 |
| Third Sector New England Inc | Community foundation infrastructure grant | 2024 | $200,000 |
| Mightycause Charitable Foundation | Unrestricted | 2024 | $76,101 |
| National Christian Charitable Foundation | Community development | 2024 | $64,166 |
| Charities Aid Foundation America | Charitable donation | 2024 | $33,444 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $25,300 |
| American Gift Fund | Operations | 2024 | $7,500 |
| The Blackbaud Giving Fund | General support | 2024 | $5,337 |
| Minneapolis Foundation | Donor-advised, public affairs/society benefit | 2023 | $322,472 |
| Mightycause Charitable Foundation | — | 2023 | $152,734 |
| Donor Advised Charitable Giving | Public, societal benefit | 2023 | $120,628 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $120,063 |
| Minnesota Historical Society | Legacy grant for web-based historical exhibit planning and design project | 2023 | $39,575 |
Grants made · $97.2M in FY2023
1,357 grants totaling $97.2M in FY2023 — showing the 15 largest. All grants made by Saint Paul & Minnesota Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| River Place | Multiple grants for programs, operations, or other purposes | $6,013,346 |
| Greater Twin Cities United Way | Multiple grants for programs, operations, or other purposes | $4,099,884 |
| Minnesota Public Radio | Multiple grants for programs, operations, or other purposes | $3,176,810 |
| Wilderness Inquiry Inc | Multiple grants for programs, operations, or other purposes | $2,166,217 |
| Scholarship America Inc | Multiple grants for programs, operations, or other purposes | $2,136,457 |
| University of Minnesota Foundation | Multiple grants for programs, operations, or other purposes | $1,717,302 |
| Science Museum of Minnesota | Multiple grants for programs, operations, or other purposes | $1,382,362 |
| Hamm Memorial Psychiatric Clinic | Multiple grants for programs, operations, or other purposes | $1,246,276 |
| Minisinaakwaang Leadership Academy | Multiple grants for programs, operations, or other purposes | $1,100,000 |
| Minneapolis Jewish Federation | Multiple grants for programs, operations, or other purposes | $1,034,950 |
| Mayo Clinic | Multiple grants for programs, operations, or other purposes | $880,778 |
| Friends of the St Paul Public Library | Multiple grants for programs, operations, or other purposes | $856,567 |
| Warroad Community Childcare Center | Multiple grants for programs, operations, or other purposes | $850,000 |
| Amherst H Wilder Foundation | Multiple grants for programs, operations, or other purposes | $801,939 |
| Keystone Community Services | Multiple grants for programs, operations, or other purposes | $790,473 |
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Compare Saint Paul & Minnesota Foundation
Frequently asked questions
- Is Saint Paul & Minnesota Foundation a legitimate nonprofit?
- Yes. Saint Paul & Minnesota Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-6031510, based in Saint Paul, Minnesota. Donations are tax-deductible.
- What is Saint Paul & Minnesota Foundation's EIN?
- Saint Paul & Minnesota Foundation's Employer Identification Number (EIN) is 41-6031510.
- How much revenue does Saint Paul & Minnesota Foundation report?
- Saint Paul & Minnesota Foundation reported $114,417,024 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Saint Paul & Minnesota Foundation's spending goes to programs?
- Saint Paul & Minnesota Foundation spends about 89% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Saint Paul & Minnesota Foundation have?
- CharityIndex grades Saint Paul & Minnesota Foundation B+, based on program efficiency and fundraising cost.
- How much does Saint Paul & Minnesota Foundation's highest-paid employee make?
- The highest reported compensation on Saint Paul & Minnesota Foundation's latest Form 990 is $553,916, paid to Eric Jolly (President and Secretary).
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Data for Saint Paul & Minnesota Foundation (EIN 41-6031510) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.