St. Paul and Minnesota Foundation

The St. Paul and Minnesota Foundation is a left-of-center grantmaking organization that focuses on “operationalizing” the critical race theory-influenced concept of equity. 1 The community foundation is the largest in the state of Minnesota and manages over $1.8 billion in assets as of 2023.  2

At-A-Glance

Website: spmcf.org
Formation:

1940

Executive Director:

Eric J. Jolly

Location: St. Paul, MN View on map
Tax ID: 41-6031510
Most Recent Filing: 2024
Budget (2024): Assets: $1,620,727,942 Revenue: $160,961,315 Expenses: $218,703,729

Contents

    Background

    The St. Paul and Minnesota Foundation was founded in 1940. The community foundation is the largest in Minnesota and was formed from a merger of the Saint Paul Foundation and the Minnesota Foundation in 2008. The F.R. Bigelow Foundation and the Mardag Foundation partner with the St. Paul and Minnesota Foundation, and their grants are managed by the St. Paul & Minnesota Foundation. 3

    Giving Strategy and Projects

    The St. Paul and Minnesota Foundation stewards over $1.8 billion in assets. 2 The community foundation states that it is “committed to investing in Minnesota and creating an equitable, just and vibrant state.” 4

    The St. Paul and Minnesota Foundation partners with the F.R. Bigelow Foundation and Mardag Foundation, as well as a statewide network of over 2,000 nonprofits and donor advised funds across Minnesota. 2

    The investment strategy of the St. Paul and Minnesota Foundation is focused on the critical race theory influenced diversity, equity and inclusion, as well as the controversial Environmental, Social, and Governance (ESG) investment methodology. 5

    Racial Equity

    The St. Paul and Minnesota Foundation states it is “committed to dismantling a belief in a hierarchy of human value, with a focus on racial equity.” 6 To promote this goal, the foundation undertakes projects to advocate for equity, especially regarding grantmaking. 7 The foundation also prioritizes “operationalizing equity” in all aspects of their work, including its investment strategy. 1

    The community foundation sponsors the “Facing Race Awards,” annual awards given to individuals that “push for justice and equity.” 8

    Additionally, the community foundation runs “Art in this Present Moment,” a project that provides “financial support to artists who are Black, Indigenous, and People of Color who are changing and challenging dominant narratives.” 9

    In 2023, the community foundation granted $9 million to over 40 businesses as part of the East Metro Main Street Economic Revitalization Program; over 85% of the business were owned or led by racial minorities according to the community foundation’s 2023 annual report. 10

    Countering Hate

    Countering Hate is an annual meeting that is hosted by the St. Paul and Minnesota Foundation, the Muslim American Society of Minnesota, and the Minnesota Council of Churches. 11 The purpose of the project is bringing religious communities together, particularly for the goal of countering “white supremacy.” 1

    Grantmaking

    In 2022, the St. Paul and Minnesota Foundation gave grants to Planned Parenthood of Minnesota, North Dakota, and South Dakota; Planned Parenthood Federation of America; and Planned Parenthood of Greater New York. 12 That same year, the group also gave grants to the Southern Poverty Law Center, the Minnesota Council of Foundations, and Ujamaa Place. 12 In 2021, the group also provided a grant for $16,500 to the left-of-center advocacy group Minnesota Council on Nonprofits. 12

    Financials

    In 2023, the St. Paul and Minnesota Foundation held over $1.8 billion in assets, and the community foundation granted $106 million to 3,253 organizations. The community foundation also offers donor advised funds, through which fundholders can direct their own donations. 10

    Leadership

    Since 2015, Eric J. Jolly has been the president and chief executive officer of the Saint Paul and Minnesota Foundation. Before joining the community foundation, Jolly worked for a decade as president of the Science Museum of Minnesota and before that as vice president and senior scientist at the Education Development Center in Massachusetts. He has also worked in successive academic roles at several colleges and universities, including professor, dean, assistant chancellor and director for Affirmative Action and Diversity. He is a life member of the Society for Advancement of Chicanos and Native Americans in Science, a life fellow of the American Association for the Advancement of Science and former member of the board of the National Museum of the American Indian. 2

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2024 $1,620,727,942 $160,961,315 $218,703,729 View
    2023 $1,554,597,163 $114,417,024 $126,875,839 View
    2022 $1,457,121,171 $122,971,818 $112,915,952 View
    2021 $1,669,011,772 $301,856,819 $128,433,023 View
    2020 $1,455,475,706 $466,800,402 $119,923,634 View

    Prior year filings: 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011

    Revenue Detail

    Expenses Detail

    Employee Compensation

    • Number of Employees: 87

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Eric JollyPRESIDENT/CEO/SECRETARY$602,528
    Shannon OlearyCHIEF INVESTMENT OFFICER$550,411
    Ashley GamDIRECTOR OF INVESTMENTS$337,953
    Jeremy WellsSVP PHIL SERVICES$286,370
    Scott ZastoupilCFO/TREASURER$277,724
    Melanie HoffertCHIEF MARKETING OFFICER$235,015
    Carrie Jo ShortDIR OF COMMUNITY & IMPACT INVESTING$206,699
    Rhonda CoxVP OF PEOPLE AND CULTURE$206,089
    Casey ShultzDIR OF COMMUNITY & IMPACT INVESTING$196,738
    Alfonso WenkerSVP OF COMMUNITY IMPACT$194,929
    Mai-anh TranAVP OF PHIL SERVICES$177,019
    Vickie ViaeneAVP OF FINANCE$172,186

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $197,578,334
    • Number of Grants: 1,066
    • Number of Funders: 204

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $11,399,9962022 3m FoundationGENERAL FUNDS
    $8,753,0002024 IsaiahENDOWMENT FUND
    $8,742,0002020 Margaret a Cargill FoundationSUPPORT FOR A DONOR ADVISED FUND AT THE MINNESOTA COMMUNITY FOUNDATION
    $7,000,0002022 Margaret A Cargill FoundationThis project will support one-time gifts to local, regional, and national organizations from the Margaret A. Cargill Foundation Donor Advised Fund at the Saint Paul & Minnesota Foundation.
    $6,400,0002024 The Bush FoundationTo operate two grant programs with the purpose of inspiring and supporting creative problem-solving across Minnesota and the Native nations that share that geography.
    $5,350,0002021 Margaret a Cargill FoundationSUPPORT FOR A DONOR ADVISED FUND AT THE MINNESOTA COMMUNITY FOUNDATION
    $5,300,0002022 The Bush FoundationSaint Paul and Minnesota Foundation (SPMF) will manage the Archibald Bush Legacy Fund, an endowed fund to make post-secondary education accessible for high school students in St. Paul. As administrator of the fund, SMPF will partner with a scholarship provider to award scholarships and other services to St. Paul students seeking to pursue higher education opportunities, with an emphasis on students from underrepresented communities. The Archibald Bush Legacy Fund expands the Foundation's long-term commitment established by Archie Bush to education and the cities of St, Paul and Granite Falls, MN.
    $3,550,0002024 Margaret a Cargill FoundationSUPPORT FOR A DONOR ADVISED FUND AT THE MN COMMUNITY FOUNDATION
    $2,500,0002023 Margaret A Cargill FoundationThis project will support one-time gifts to local, regional, and national organizations from the Margaret A. Cargill Foundation Donor Advised Fund at the Saint Paul & Minnesota Foundation.
    $2,500,0002023 Margaret A Cargill FoundationThis project will support one-time gifts to local, regional, and national organizations from the Margaret A. Cargill Foundation Donor Advised Fund at the Saint Paul & Minnesota Foundation.
    $1,900,0002021 Margaret a Cargill FoundationSUPPORT FOR EMPLOYEE MATCHING PROGRAM ADMINISTERED BY MINNESOTA COMMUNITY FOUNDATION
    $1,850,0002023 Margaret A Cargill FoundationThis project will support one-time gifts to local, regional, and national organizations from the Margaret A. Cargill Foundation Donor Advised Fund at the Saint Paul & Minnesota Foundation.
    $1,250,0002023 Margaret A Cargill FoundationThis project will support one-time gifts to local, regional, and national organizations from the Margaret A. Cargill Foundation Donor Advised Fund at the Saint Paul & Minnesota Foundation.
    $1,200,0002024 Margaret a Cargill FoundationSUPPORT FOR EMPLOYEE MATCHING PROGRAM AT THE MN COMMUNITY FOUNDATION
    $1,200,0002023 Margaret A Cargill FoundationThis project will fund the execution of the MACF Employee Matching Gift Program by Saint Paul and Minnesota Foundation (SPMF), as outlined in the Employee Matching Gift Program Policy, in order to reduce MACF workload and deepen the relationship with SPMF.
    $1,200,0002022 Margaret A Cargill FoundationThis project will fund the execution of the MACF Employee Matching Gift Program by Saint Paul and Minnesota Foundation (SPMF), as outlined in the Employee Matching Gift Program Policy, in order to reduce MACF workload and deepen the relationship with SPMF.
    $1,140,0002023 Hegardt FoundationGavia Fund (Donor Advised Fund)
    $1,025,0002020 Cargill FoundationMINNESOTA CORPORATE & COMMUNITY COALITION
    $1,000,0002022 McKnight FoundationTo build capacity for the City of Saint Paul's Office of Financial Empowerment community wealth-building and economic mobility strategies
    $1,000,0002020 Saint Paul & Minnesota FoundationTo the Minnesota Disaster Recovery Fund. COVID-19
    $1,000,0002020 The Bush FoundationCovid-19 – To support the launch of the Minnesota Disaster Recovery Fund
    $808,2992020 Mightycause Charitable FoundationUNRESTRICTED
    $775,0002020 The Bill and Margaret Marvin FoundationCOMMUNITY IMPROVEMENT
    $750,0002022 The Kresge FoundationThe purpose of this grant is to support the Human Services and Detroit Programs’ continued partnership with The City of Saint Paul, and the Saint Paul and Minnesota Foundation to develop a policy prototype for the nation around advancing income + asset strategies.
    $628,0002024 The Bush FoundationBush Prize: Minnesota celebrates organizations that are highly valued within their communities and have a track record of successful community problem solving. The 2024 Bush Prize: Minnesota winners are Mni Sota Fund, Green Card Voices, and Minnesota Education Equity Partners. Each of these organizations will receive a flexible grant that can be used to build reserves, test a big idea or for anything else that would best support the organization's ongoing good work. The organizations selected as finalists are Epimonia (fiscal sponsor: Young Mens Christian Association of the North), ISAIAH, Keystone Community Services, Open Cupboard, Way to Grow, and Youthprise. Each of these organizations will receive a $10,000 grant. Bush Prize: Minnesota winners and finalists were identified and selected by a community selection panel through a partnership with our community grant partner, the St. Paul and Minnesota Foundation.

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $1,124,073,627
    • Number of Grants: 44,795
    • Number of Recipients: 6,892

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $80,010,0002024 Lakeview Health FoundationMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $13,000,0002021 River PlaceFor the building fund
    $12,796,5342022 MAYO CLINICMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $10,355,9702024 Group Health IncMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $5,252,3502024 Allina Health FoundationMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $4,010,0002024 NCH Healthcare Systems, IncMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $3,610,0002022 Wesleyan UniversityMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,860,2022024 Waseca Area FoundationMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,709,8092024 Greater Twin Cities United WayMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,500,0002024 Catholic Schools Center of Excellence – CscoeMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,500,0002023 River Place
    $2,500,0002023 River Place
    $2,187,7412022 Minnesota Public Radio American Public MediaMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,117,1612022 Greater Twin Cities United WayMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,104,0422024 American Endowment FoundationMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $2,028,9422022 Scholarship America IncMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,943,1862022 New Ulm Area Foundation IncMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,722,0102022 Minisinaakwaang Leadership AcademyMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,600,0002021 Warroad Memorial Arena AssociationFor significant upgrades to the ice shee, boards and other repairs needed in the Olympic arena.
    $1,550,7392024 University of Minnesota FoundationMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,519,7312023 Wilderness Inquiry, Inc.
    $1,447,4362024 National Philanthropic TrustMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,362,0002021 White Bear Center for the ArtsFor expansion expenses labor and material
    $1,300,0002024 Minisinaakwaang Leadership AcademyMULTIPLE GRANTS FOR MULTIPLE PURPOSES
    $1,292,2302021 Parish of Saints Joachim and Anne of ShakopeeTo be distributed to the following endowed funds at the Catholic Community Foundation, ST. Paul, MN: Shakopee Area Catholic School Endowment Fund (80%) and The Parish of Saints Joachim and Anne Religious Education Endowment Fund (20%)

    References

    1. “Operationalizing Equity.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/blog/how-we-operationalize-equity.
    2. “Eric J. Jolly.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/team/eric-j-jolly.
    3. “History.” Saint Paul & Minnesota Foundation. Accessed August 31, 2024. https://spmcf.org/who-we-are/history.
    4. “About the Saint Paul & Minnesota…” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/who-we-are.
    5. “Investments.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/what-we-do/investments.
    6. “Advocating for Equity.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/what-we-do/advocate-for-equity.
    7. Peterson, Stephanie. “Four Lessons Learned From…” Saint Paul & Minnesota Foundation. Accessed August 31, 2024. https://spmcf.org/blog/equity-in-grantmaking-data.
    8. “Facing Race Awards: Anti-Racism…” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/what-we-do/facing-race-awards.
    9. “Art in This Present Moment.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/what-we-do/advocate-for-equity/art.
    10. “2023: A Year of Collective…” Saint Paul & Minnesota Foundation. Accessed September 1, 2024. https://spmcf.org/blog/2023-year-in-review.
    11. “Countering Hate.” Saint Paul & Minnesota Foundation. Accessed September 2, 2024. https://spmcf.org/what-we-do/advocate-for-equity/countering-hate-event.
    12. “St. Paul & Minnesota Foundation,” Return of Organization Exempt From Income Tax (Form 990) 2022. Schedule I.