The Minneapolis Foundation raised more than $100 million in charitable gifts during the fiscal year that ended on March 31, 2018, a record for gifts made to the Foundation in a single year by individuals, businesses and families who care about strengthening communities and improving lives.
This preliminary figure represents a 33 percent increase in contributions over the previous year and more than double what the 102-year-old community foundation attracted just five years ago. During the same period – April 1, 2017 to March 31, 2018 – the Foundation distributed nearly $70 million to charitable causes and organizations in Minneapolis and beyond.
“Our gratitude and pride in bringing in a record number of charitable dollars is mixed with the responsibility we feel to get as much as we can into the community at a time of great need,” said R.T. Rybak, President and CEO of The Minneapolis Foundation. “Look for an announcement in May about how we’ll be doing even more to attack the gaps that have existed in Minneapolis for too long.”
Ellen Goldberg Luger, the Foundation’s Senior Vice President for Philanthropic Services, said increased awareness of Donor Advised Funds and the advantages they offer—including convenience, tax benefits and the ability to gift an array of asset types, such as stock—played a role in the Foundation’s growth. She also credited the many financial advisors, estate attorneys and accountants who refer clients to the Foundation to help them achieve their philanthropic goals.
“In the same way that people use financial advisors to help them make money, our philanthropic advisors help them invest it in the community,” Luger said. “By nurturing strong relationships with our donors, we’re able to raise more resources and increase our impact in the community.”
The Minneapolis Foundation is a giving community that includes more than 1,700 donors and more than 1,200 charitable funds. The Foundation serves a growing number of donors who want to be actively engaged in the causes they support and connect with others who care about making a positive impact in their community. As a community foundation, The Minneapolis Foundation is well positioned to offer expertise on both philanthropic tools and community issues, as well as connections to other donors, civic leaders and nonprofit organizations.
Through funds that they establish at the Foundation, its donors support an array of charitable causes in Minneapolis and around the world, including the arts, environmental conservation and community health. In addition to grantmaking, the Foundation engages in impact investing, advocacy and convenings where its giving community comes together learn, exchange ideas and take action on pressing local issues.
“For 102 years, we have built deep partnerships with our donors to help them increase the impact of their charitable gifts,” Rybak said. “Now we’re more focused than ever on building relationships between those donors, and on creating more opportunities for them to connect with people all over our community.”
The final tally of assets raised during fiscal year 2018, which ended on March 31, is likely to grow before the Foundation’s financial statements are audited. Audited financial statements and 990s for fiscal year 2018 will be posted on the Foundation’s website later this year at www.minneapolisfoundation.org/financials.