The top fifty grantmakers in Minnesota awarded a total of $1.3 billion in cash grants in the fiscal year ending between June 2014 and May 2015, up slightly from the $1.2 billion awarded the previous year, a report from the Minnesota Council on Foundations finds.
According to the 2014 Minnesota Annual Grantmaker Rankings, the Margaret A. Cargill Foundation topped the list of grantmakers in the state, with $150.2 million ($23 million to Minnesota organization) in grants paid — moving up ten spots from eleventh place in 2013. Rounding out the top five were the Target Foundation and Corporation ($104.7 million, $25.4 million in Minnesota); the General Mills Foundation and Corporation ($102.4 million, $16.2 million in Minnesota); the McKnight Foundation ($88.4 million, $54 million in Minnesota); and the Medtronic Foundation and Corporation ($85.6 million, $16.7 million in Minnesota). Of the top fifty grantmakers in the state by grants paid, forty-eight also appeared on the 2013 list.
The Margaret A. Cargill Foundation ($3.3 billion) also ranked first in terms of assets, followed by McKnight ($2.26 billion), the Saint Paul Foundation and Minnesota Community Foundation ($1.06 billion), the Otto Bremer Trust ($945 million), and the Bush Foundation ($920 million).
Sixty-one percent of grant dollars from the top fifty grantmakers in the state were awarded to organizations based outside the state, owing in large part to the many multinational corporate funders headquartered in Minnesota that distribute grant funds across regions where they operate. MCF president Trista Harris noted, however, that corporate giving goes beyond cash grants. "The business community’s donations of products, services, and volunteer time are a substantial and growing part of their overall charitable support," said Harris. "Minnesota communities depend on in-kind donations in addition to cash giving by business."