Borealis Philanthropy, a Minneapolis-based philanthropic intermediary, has announced that Magui Rubalcava, its founding president, will transition out of the organization at the end of May.
Kayva Yang, who had been the organization's board chair, will assume the role of interim president, and Tony Tapia, an original board member, will step in as the new board chair.
In a statement on the organization's website, Rubalcava said that the coronavirus had "changed my personal circumstances and accelerated my transition timeline," but noted that the growth of the organization from a mere idea a little over six years ago to a $30 million nonprofit with a staff of thirty people had exceeded her dreams. "And that's part of how I know it's time to move on," she added. "[A]s the organization scaled quickly, it became clear to me that Borealis was ready for a fresh vision and energy to help it grow well into the future."
According to Tapia, board and staff are working closely to steward the organization through the transition. The organization's structure includes ten donor collaborative funds focused on areas such as racial equity, black-led organizations, immigration litigation, and transformative movements.
"With my original vision for Borealis exceeded and amplified, it's time for new leadership," Rubalcava wrote. "That Borealis has outgrown me is the best possible outcome I could have hoped for. I look forward to seeing where Borealis goes from here."