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Audited Financial Statements
Click here to view the PDF version of the Foundation's 2009 audited financial statements. The audit for 2010 will be available in late 2011.
Tax Returns
You can click on the following links to view the Foundation's most recent Form 990-PF, Return of Private Foundation and 990-T, Exempt Organization Business Income Tax Return, for the year ending December 31, 2008.
Investment commentary for 2009
Investment policy and governance
Our program strategies require steady funding during difficult economic times, and the Foundation’s long-term investment objective is to generate an inflation-adjusted return in excess of the IRS minimum 5.0 percent payout of average assets. Our aim is to be a dependable and effective partner for Minnesota, North Dakota, South Dakota and the 23 Native nations that share the same geographic area. The Foundation’s investment efforts are coordinated by an Investment Committee of the Board, a small internal investment staff and an outside investment advisory firm.
Investment performance
Our world experienced unprecedented losses in 2008 and into early 2009. The Foundation, like many private institutions, has not yet fully recovered into early 2010. The Foundation’s investments totaled $691.5 million as of December 31, 2009. (See year-end investment balances from 1977-2009 in the chart at the bottom of this commentary.) The Foundation’s net investment return for 2009 was 9.0 percent.
Payout
Payout for 2009 was $36.0 million, which includes grant payments to third parties, grant-related expenses and administrative expenses. See the payout trend from 1977-2009 and a breakdown of payout by goal area in two charts at the bottom of this commentary.)
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