Target, McKnight and General Mills Rank Highest in 2008 Grants Paid
The Minnesota Council on Foundations (MCF) today released its annual rankings of the top grantmakers in Minnesota based on cash grants paid in 2008. The annual rankings lists include: Top 50 Minnesota Grantmakers overall; Top 50 Minnesota Foundations By Assets; Top 25 Minnesota Corporate Grantmakers; Top 25 Minnesota Private Foundations; and the Top 25 Community/Public Foundations.
“Cash giving by the 75 corporate, private and community/public grantmakers that comprise our three Top 25 lists totals just over $1 billion,” says Bill King, MCF president. “The contributions of these and all the approximately 1,400 Minnesota grantmakers are a significant source of support for nonprofits, especially as they strive to meet the growing challenges facing our communities.”
King adds, “Many of our corporate grantmakers also give beyond their cash contributions by donating in-kind goods and services and by volunteering. Minnesota’s philanthropic tradition, led by these top grantmakers, continues to be one of the strongest in the country.”
The effect of the economic downturn is evident in MCF’s reporting on 2008 foundation assets. King explains, “Our ranking of Top Minnesota Foundations by Assets reveals what we’ve heard anecdotally for months – assets are declining, in some cases by substantial amounts. Nonprofits will be affected, but the extent may not be known until well into 2010.”
The top five Minnesota grantmakers overall (based on cash contributions paid in 2008) are: Target Foundation and Corporation ($138.2 million); The McKnight Foundation ($99.5 million); General Mills Foundation and Corporation ($71.2 million); The Saint Paul Foundation ($64.8 million); and Cargill Foundation and Cargill Inc. ($58.2 million).
For the complete rankings, visit mcf.org.
MCF’s annual rankings are based on the amount of cash grants paid by funders with fiscal years ending June 1, 2008, through May 31, 2009. In order to ensure that grantmakers are compared consistently, in-kind or other non-cash contributions are not included.
In early November, MCF will release its annual Giving in Minnesota research report, which provides a comprehensive analysis of the trends and patterns of giving by Minnesota foundations and corporations.
