SAINT PAUL & MINNESOTA FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1940

Legal Domicile

Principal Officer

SCOTT ZASTOUPIL

Phone

6512245463

Tax Period

2024-01-01 to 2024-12-31

SAINT PAUL & MINNESOTA FOUNDATION, founded in 1940, is a major nonprofit in the Philanthropy & Grantmaking sector that reported $161.0M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. Expenses of $218.7M exceeded revenue, resulting in a 36% operating deficit.

Mission

PURPOSE: WE INSPIRE, ADVOCATE AND INVEST TO ADVANCE COMMUNITY VISIONS. CONTINUED ON SCH O

Program Service Accomplishments

Program 1

Expenses: $191,071,990 Revenue: $279,752

WE WORK WITH DONORS, PROFESSIONAL ADVISORS, NONPROFIT ORGANIZATIONS AND LOCAL LEADERS TO IDENTIFY AND SUPPORT CRITICAL NEEDS ACROSS THE STATE OF MINNESOTA. WE PARTNER WITH DONORS TO ACHIEVE THEIR...

WE WORK WITH DONORS, PROFESSIONAL ADVISORS, NONPROFIT ORGANIZATIONS AND LOCAL LEADERS TO IDENTIFY AND SUPPORT CRITICAL NEEDS ACROSS THE STATE OF MINNESOTA. WE PARTNER WITH DONORS TO ACHIEVE THEIR CHARITABLE GOALS AS THEY ADDRESS THE ISSUES THAT ARE MOST IMPORTANT TO THEM. ADDITIONALLY, WE OFFER SEVERAL GRANTMAKING PROGRAMS THAT SUPPORT NONPROFITS, INCLUDING A TWICE-YEARLY BUILDING COMMUNITY CAPACITY GRANT PROGRAM THAT PROVIDES CRITICAL FUNDING IN SIX AREAS: COMMUNITY CONNECTEDNESS; ECONOMIC OPPORTUNITY AND SECURITY; EDUCATION; HEALTH; HOUSING AND TRANSPORTATION; AND HUMAN SERVICES AND FAMILY SUPPORT. LEARN MORE AT HTTPS://SPMCF.ORG/WHO-WE-ARE

Program 2

Expenses: $10,525,283 Revenue: $0

BY INVESTING IN COMMUNITY-LED SOLUTIONS, THE FOUNDATION SUPPORTS ORGANIZATIONS AND LEADERS ADDRESSING TIMELY ISSUES. A COMMUNITY-LED SOLUTION EXAMPLE INCLUDES THE BUSH PRIZE: MINNESOTA, WHICH IS...

BY INVESTING IN COMMUNITY-LED SOLUTIONS, THE FOUNDATION SUPPORTS ORGANIZATIONS AND LEADERS ADDRESSING TIMELY ISSUES. A COMMUNITY-LED SOLUTION EXAMPLE INCLUDES THE BUSH PRIZE: MINNESOTA, WHICH IS FACILITATED IN PARTNERSHIP WITH THE BUSH FOUNDATION. THE BUSH PRIZE: MINNESOTA IDENTIFIES AND HONORS EXTRAORDINARY ORGANIZATIONS THAT CONSISTENTLY ENGAGE AND LEAD THEIR COMMUNITY TOWARD CREATIVE SOLUTIONS, PROVIDES THEM WITH FLEXIBLE SUPPORT TO KEEP DOING THAT WORK, AND SUPPORTS THEM TO AMPLIFY THEIR STORY TO INSPIRE OTHERS.

Program 3

Expenses: $1,257,805 Revenue: $1,250,883

WE SUPPORT EFFECTIVE GRANTMAKING AND PROVIDE ADMINISTRATIVE SERVICES FOR A WIDE VARIETY OF FUNDS AND FOUNDATIONS SERVING MINNESOTA AND THE EAST METRO AREA, INCLUDING DAKOTA, RAMSEY AND WASHINGTON...

WE SUPPORT EFFECTIVE GRANTMAKING AND PROVIDE ADMINISTRATIVE SERVICES FOR A WIDE VARIETY OF FUNDS AND FOUNDATIONS SERVING MINNESOTA AND THE EAST METRO AREA, INCLUDING DAKOTA, RAMSEY AND WASHINGTON COUNTIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $67,128,945

Program Service Revenue $2,019,451

Investment Income $91,811,966

Other Revenue $953

TOTAL REVENUE $160,961,315

Expense Breakdown

Grants Paid $196,271,936

Salaries & Benefits $10,129,641

Fundraising Expenses $4,580,061

Program Expenses $203,680,682

Other Expenses $12,134,702

TOTAL EXPENSES $218,703,729

Year-over-Year Comparison

	2024	2023	Change
Revenue	$160,961,315	$114,417,024	+0.4%
Expenses	$218,703,729	$126,875,839	+0.7%
Net Income	$-57,742,414	$-12,458,815	+3.6%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

166

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,118,170

Total Directors

Key Employees

$1,644,171

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANE TRAN	CHAIR	1.00	Officer Director	$0	$0	$0
JOSEPH LEE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL ECHOLS	DIRECTOR	1.00	Director	$0	$0	$0
JILL FARRINGTON	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS GALVIN	DIRECTOR	1.00	Director	$0	$0	$0
JACY GRAIS	DIRECTOR	1.00	Director	$0	$0	$0
MARK HENNEMAN	DIRECTOR	1.00	Director	$0	$0	$0
NAUSHEENA HUSSAIN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHE BECK	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL LEMM	DIRECTOR	1.00	Director	$0	$0	$0
NANCY LYONS	DIRECTOR	1.00	Director	$0	$0	$0
MATT MAJKA	DIRECTOR	1.00	Director	$0	$0	$0
MARY JANE MELENDEZ	DIRECTOR	1.00	Director	$0	$0	$0
GLORIA PEREZ	DIRECTOR	1.00	Director	$0	$0	$0
MIGUEL RAMOS	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SENESE	DIRECTOR	1.00	Director	$0	$0	$0
ALEX WEST STEINMAN	DIRECTOR	1.00	Director	$0	$0	$0
TAREK TOMES	DIRECTOR	1.00	Director	$0	$0	$0
KATHY TUNHEIM	DIRECTOR	1.00	Director	$0	$0	$0
BO THAO-URABE	DIRECTOR	1.00	Director	$0	$0	$0
ERIC JOLLY	PRESIDENT/CEO/SECRETARY	40.00	Officer	$602,528	$202,883	$805,411
SCOTT ZASTOUPIL	CFO/TREASURER	40.00	Officer	$277,724	$35,035	$312,759
RHONDA COX	VP OF PEOPLE AND CULTURE	40.00	Key Emp	$206,089	$36,984	$243,073
MELANIE HOFFERT	CHIEF MARKETING OFFICER	40.00	Key Emp	$235,015	$30,903	$265,918
SHANNON OLEARY	CHIEF INVESTMENT OFFICER	40.00	Key Emp	$550,411	$34,668	$585,079
JEREMY WELLS	SVP PHIL SERVICES	40.00	Key Emp	$286,370	$51,410	$337,780
ALFONSO WENKER	SVP OF COMMUNITY IMPACT	40.00	Key Emp	$194,929	$17,392	$212,321
ASHLEY GAM	DIRECTOR OF INVESTMENTS	40.00	Highest	$337,953	$39,269	$377,222
CARRIE JO SHORT	DIR OF COMMUNITY & IMPACT INVESTING	40.00	Highest	$206,699	$27,501	$234,200
CASEY SHULTZ	DIR OF COMMUNITY & IMPACT INVESTING	40.00	Highest	$196,738	$20,602	$217,340
MAI-ANH TRAN	AVP OF PHIL SERVICES	40.00	Highest	$177,019	$35,971	$212,990
VICKIE VIAENE	AVP OF FINANCE	40.00	Highest	$172,186	$17,697	$189,883

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$160,961,315	$218,703,729	$1,620,727,942	$-57,742,414
2023	$114,417,024	$126,875,839	$1,554,597,163	$-12,458,815
2022	$122,971,818	$112,915,952	$1,457,121,171	$10,055,866
2021	$301,856,819	$128,433,023	$1,669,011,772	$173,423,796
2020	$466,800,402	$119,923,634	$1,455,475,706	$346,876,768
2019	$118,527,281	$71,078,537	$1,001,580,688	$47,448,744
2018	$109,181,391	$73,339,461	$875,742,688	$35,841,930