Medtronic Communities Foundation
- Assets
- $139.7m
- Revenue
- $82.2m
- Investments
- $37.8m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/1977
- Data as of
- 04/2020
- EIN
- 41-1306950
Organization Overview
Medtronic Communities Foundation is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 04/2020, Medtronic Communities Foundation generated $82.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (9.5%) each year. All expenses for the organization totaled $33.4m during the year ending 04/2020. As we would expect to see with falling revenues, expenses have declined by (15.7%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Medtronic Communities Foundation has awarded 67 individual grants totaling $26,193,490. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bartley Sylvia Sr. Director Philant | 39.6 | $355,783 | |
Daly Jessica Director Philanthrop | 39.6 | $303,558 | |
Guibat Demont Audrey Sr. Philanthropy Man | 39.6 | $282,152 | |
Paurvi Bhatt President, Vice Chair | 32 | $278,496 | |
Frailich Allison Director Marketing & | 39.6 | $270,484 | |
Myxter Lyrae Sr. Philanthropy Man | 39.6 | $264,143 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Public Health Institute | 4/23/20 | $320,634 |
Dont Blink | 4/23/20 | $323,897 |
Pyxera Global | 4/23/20 | $805,030 |
Weber Shandwick | 4/23/20 | $108,134 |
Creative Medical Research Ltd | 4/23/20 | $244,724 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $80,515,815 |
| Interest on Savings | $1,816,583 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$154,717 |
| Capital Gain Net Income | $3,758 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $82,177,681 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $732,125 |
| Other employee salaries and wages | $2,539,616 |
| Pension plans, employee benefits | $480,351 |
| Interest | $0 |
| Taxes | $62,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $324,926 |
| Printing and publications | $0 |
| Other expenses | $280,093 |
| Total operating and administrative expenses | $7,183,132 |
| Contributions, gifts, grants paid | $26,193,186 |
| Total expenses and disbursements | $33,376,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $342,279 |
| Savings and temporary cash investments | $101,547,639 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $139,693,396 |
| Accounts payable and accrued expenses | $4,478,742 |
| Grants payable | $2,529,696 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,008,438 |
Grants Awarded
Over the last fiscal year, Medtronic Communities Foundation has awarded $26,193,490 in support to 67 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: EXPANDING ACCESS TO HEALTHCARE FOR THE UNDERSERVED WORLDWIDE AND SUPPORTING HEALTHY COMMUNITIES WHERE WE LIVE AND GIVE. | $11,073,808 |
THE BLACKBAUD GIVING FUND PURPOSE: FY20 MATCHING GRANTS | $6,711,281 |
THE BAKKEN MUSEUM PURPOSE: BAKKEN MUSEUM GENERAL OPERATING AND PATHWAY SUSTAINABILITY | $902,500 |
PUERTO RICO PUBLIC HEALTH TRUST (A PROGRAM OF THE PUERTO RICO SCIENCE TECHN PURPOSE: BUILDING COMMUNITY HEALTH WORKER CAPACITY IN PUERTO RICO | $900,000 |
THE BLACKBAUD GIVING FUND PURPOSE: FY20 VOLUNTEER GRANTS | $617,301 |
Arlington, VA PURPOSE: COVID-19 RESPONSE | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,347,640,816 | $94,804,638 |
The Richard M Schulze Family Foundation Minneapolis, MN | $248,694,629 | $165,153,269 |
Medtronic Communities Foundation Minneapolis, MN | $139,693,396 | $82,177,681 |
Northwest Area Foundation St Paul, MN | $476,449,216 | $15,069,261 |
Manitou Fund White Bear Lake, MN | $984,047,898 | $969,820,600 |
Richard O Jacobson Foundation Inc Des Moines, IA | $0 | $21,500,018 |
J A Wedum Foundation Minneapolis, MN | $132,054,818 | $56,321,347 |
Lunda Charitable Fund Inc Black River Falls, WI | $54,780,973 | $2,553,689 |
Target Foundation Minneapolis, MN | $17,816,807 | $22,990,908 |
Herbert H Kohl Charities Inc Milwaukee, WI | $0 | $4,457,488 |
3m Foundation St Paul, MN | $14,130,445 | $13,263,360 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $222,792,049 | $14,759,051 |