St. Paul and Minnesota Foundations Mark $1 Billion in Giving

The Saint Paul & Minnesota Foundations were founded in 1940 with a modest, $5,000 gift from a Jewish immigrant named Annie Paper.

This week, the Foundations reached a milestone that likely seemed impossible at the time — more than $1 billion in giving to communities across Minnesota.

“We are thrilled to report more than $1 billion of giving and to celebrate the difference it has made in the lives of Minnesotans,” Eric J. Jolly, the Foundations’ president and CEO, announced in a statement this week. “We are proud of this legacy and humbled by the generosity of our donors, the trust they place in us to amplify the impact of their giving and the dedication of the organizations that put those grants to work for the benefit of the residents of our region.”

While $1 billion in giving is a milestone worth celebrating, it’s only the beginning.

The foundations are approaching $1.5 billion in assets — money that will be invested in Minnesota communities for generations to come.

Last year, in partnership with donors, the Foundations made nearly 8,300 grants to support community needs.

“While we are thrilled to achieve this giving milestone, our real focus is forward-facing,” said Ann Mulholland, executive vice president of the Foundations. “As we plan for future investments, our focus will remain on creating even greater impact through community-led solutions that drive positive outcomes for Minnesotans. Thanks to the generosity of our donors and the dedicated work of our community partners, the Foundations are well-positioned to provide vital support for generations to come.”

Peter Panepento