Minnesota Community Foundation

“Eric jolly, scott zastoupil, and shannon o'leary have a business relationship with the entire board of directors as mr. Jolly, mr. Zastoupil, and ms. O'leary are employees of saint paul & minnesota foundation and the board members of the minnesota community foundation are also board members of saint paul & minnesota foundation.”

“As previously discussed, on december 5, 2018, the board of directors approved a merger of minnesota community foundation and the saint paul foundation, effective january 1, 2020. All necessary notifications were provided to the minnesota attorney general and the merger received court approval during 2019. The minnesota community foundation has dissolved as of the effective date of the merger.”

“The form 990 was submitted to the audit and finance committee on july 17, 2020 for review and acceptance prior to submission to the irs. The full board of directors is then provided a copy of the 990 prior to its sumbission to the irs.”

“The foundation has established a code of business conduct policy. This policy covers the areas of compliance, discrimination and harassment confidentiality, conflict of interest and ethical principles. The policy applies to all staff, board and board committee members (representatives). Annually, representatives are required to sign a form declaring that they have read, understood and agreed to abide by the code of business conduct policy. All representatives are also required to annually complete a conflict of interest form, declaring any relationships they may have that could pose a conflict with their role as foundation representative.”

“Due to the effective date of the merger being january 1, 2020 and minnesota community foundation dissolving effective the date of the merger, there was no compensation paid to minnesota community foundation officers or key employees.”

“The foundation makes its governing documents, conflict of interest policy (as part of its code of business conduct), and financial statements available on its website at www.spmcf.org.”

“Purpose: we inspire generosity, advocate for equity and invest in community-led solutions. Aspiration: we envision an equitable, just and vibrant minnesota where all communities and people thrive. Values: we listen. We innovate and learn. Community is our compass. We commit to equity. We nurture philanthropy. About minnesota community foundation we believe in the best of minnesota and the power of its communities. With roots in saint paul and partners across the state, we are one of minnesota's largest community foundations and the partner of choice for thousands of donors, nonprofits, and community organizations. We inspire generosity to make minnesota better for all who call it home. We believe in the best of minnesota and the power of its communities. We believe there is no hierarchy in human value. We believe that our communities are only as strong as our most vulnerable. We believe generosity inspires change. With roots in saint paul and partners across the state, we are minnesota's largest community foundation and the partner of choice for thousands of donors, nonprofits, and community organizations. Our highly-skilled team is known for stewardship and expertise, administering charitable funds and managing assets. We inspire generosity to make minnesota better for all who call it home. We bring together donors, nonprofits, and community members to solve some of the biggest problems facing minnesota communities. Our partners are change agents, and together we invest for good to make a lasting impact in our communities.”

“The minnesota community foundation is filing a final 990 return for 2020 as the foundation was dissolved. Because 2020 tax forms are not yet available, the foundation is using the 2019 tax forms available. All 2020 figures are reported in the 2019 column and all 2019 prior year numbers are reported in the 2018 column.”

“On december 5, 2018, the board of directors approved a merger of minnesota community foundation and the saint paul foundation, effective january 1, 2020. The two foundations have been operating in alignment for several years, sharing staff and since 2008 governed by one common board of directors. The activities of the respective foundations will continue after the merger as they have in the past - honoring donor intent and legacies, and continuing to address the needs of communities previously served by the two foundations. After the merger date, the combined foundation will continue to operate as the same consortium of trusts and funds under the same board of directors and management. The combined foundation will be called saint paul & minnesota foundation. Minnesota community foundation was dissolved effective january 1, 2020 and all assets and liabilities of minnesota community foundation were transferred to the merged entity.”

“Transfer of net assets for merger -320,796,700 minnesota community foundation was dissolved effective january 1, 2020. All assets, net of liabilities relieved, were transferred to the merged entity, saint paul and minnesota foundation.”