Nonprofit · EIN 41-0754835
MCKNIGHT FOUNDATION
Tax-exempt · MINNEAPOLIS, MN 55415
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $189,397,037 | $209,369,790 | -$19,972,753 | $2,712,040,525 | $127,640,615 | $2,584,399,910 |
| December 31, 2023 | 990-PF | $106,746,947 | $162,849,317 | -$56,102,370 | $2,661,443,888 | $96,556,813 | $2,564,887,075 |
| December 31, 2021 | 990-PF (amended) | $364,557,003 | $177,049,148 | $187,507,855 | $3,199,348,023 | $162,518,444 | $3,036,829,579 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,133
- Dividends
- $28,754,646
- Interest
- $983,408
- Net gain from sales of assets
- $148,638,162
- Other income
- $11,016,688
Expenses
- Grants and similar amounts paid
- $153,191,544
- Compensation of officers, directors and key employees
- $1,759,896
- Salaries, compensation and benefits (total)
- $9,372,528
- Disbursements for charitable purposes
- $173,261,965
- Excise tax on investment income
- $3,332,123
Balance sheet and other
- Total assets, start of year
- $2,661,443,888
- Total assets, end of year
- $2,712,040,525
- Total liabilities, end of year
- $127,640,615
- Net assets, end of year
- $2,584,399,910
- Fair market value of assets
- $2,712,040,525
- Qualifying distributions
- $182,225,271
- Net investment income
- $269,798,780
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Tonya Allen 921 Washington Ave S, Minneapolis, MN 55415 | Director, President | 40 | $739,674 | $70,334 |
| Elizabeth McGeveran 921 Washington Ave S, Minneapolis, MN 55415 | VP of Investments Highest-paid employee | 40 | $432,136 | $82,183 |
| Nichol Higdon 921 Washington Ave S, Minneapolis, MN 55415 | Secretary, VP of Fin & Ops | 40 | $394,031 | $58,140 |
| Neeraj Mehta 921 Washington Ave S, Minneapolis, MN 55415 | VP of Programs Highest-paid employee | 40 | $327,527 | $71,613 |
| Stephanie Duffy 921 Washington Ave S, Minneapolis, MN 55415 | Dir Grants &Prog Ops Highest-paid employee | 40 | $251,513 | $61,035 |
| Jacques Hebert 921 Washington Ave S, Minneapolis, MN 55415 | Comms Director Highest-paid employee | 40 | $245,899 | $50,592 |
| Cedrick Baker 921 Washington Ave S, Minneapolis, MN 55415 | Chief of Staff Highest-paid employee | 40 | $243,379 | $60,214 |
| Tamara Wallace 921 Washington Ave S, Minneapolis, MN 55415 | Assistant Secretary | 40 | $123,127 | $31,577 |
| Theodore Staryk 921 Washington Ave S, Minneapolis, MN 55415 | Director, Board Chair | 3 | $35,000 | $0 |
| john a powell 921 Washington Ave S, Minneapolis, MN 55415 | Director | 2 | $31,250 | $0 |
| Erika Binger 921 Washington Ave S, Minneapolis, MN 55415 | Director, Treasurer | 3 | $25,000 | $0 |
| Noa Staryk 921 Washington Ave S, Minneapolis, MN 55415 | Director | 2 | $25,000 | $0 |
| Karen Coleman 921 Washington Ave S, Minneapolis, MN 55415 | Director | 5 | $25,000 | $0 |
| Dana Anderson 921 Washington Ave S, Minneapolis, MN 55415 | Director | 3 | $25,000 | $0 |
| Kathy Tunheim 921 Washington Ave S, Minneapolis, MN 55415 | Director, Board Vice Chair | 6 | $25,000 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Luther M Ragin 921 Washington Ave S, Minneapolis, MN 55415 | Director | 3 | $25,000 |
| Meghan Brown 921 Washington Ave S, Minneapolis, MN 55415 | Director | 2 | $25,000 |
| Perry Moriearty 921 Washington Ave S, Minneapolis, MN 55415 | Director | 3 | $25,000 |
| Duchesne Drew 921 Washington Ave S, Minneapolis, MN 55415 | Director | 3 | $25,000 |
| Roger Sit 921 Washington Ave S, Minneapolis, MN 55415 | Investment Committee | 1 | $10,000 |
| Michael Barry 921 Washington Ave S, Minneapolis, MN 55415 | Investment Committee | 1 | $10,000 |
| Roy Swan 921 Washington Ave S, Minneapolis, MN 55415 | Investment Committee | 1 | $10,000 |
990-PF for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Tonya Allen 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | President | 40 | $718,705 | $86,061 |
| Elizabeth McGeveran 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Dir of Investments Highest-paid employee | 40 | $386,021 | $75,698 |
| Nichol Higdon 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | VP of Fin & Ops & Secretary | 40 | $362,894 | $48,442 |
| Cedrick Baker 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Chief of Staff Highest-paid employee | 40 | $236,433 | $56,580 |
| Neeraj Mehta 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Dir of Learn & Prgms Highest-paid employee | 40 | $233,849 | $56,060 |
| Jacques Hebert 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Communications Dir Highest-paid employee | 40 | $225,594 | $47,837 |
| Stephanie Duffy 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Dir Grnts Mgmt/Prgms Highest-paid employee | 40 | $221,345 | $54,338 |
| Tamara Wallace 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Assistant Secretary | 40 | $109,624 | $28,312 |
| Theodore Staryk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director, Board Chair | 5 | $32,500 | $0 |
| Flannery Clark 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | ASSISTANT SECRETARY | 40 | $31,330 | $4,824 |
| Noa Staryk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director, Board Chair | 3 | $27,500 | $0 |
| Erika Binger 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Treasurer | 4 | $25,000 | $0 |
| Karen Coleman 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 6 | $25,000 | $0 |
| Dana Anderson 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 3 | $25,000 | $0 |
| Kathy Tunheim 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director, Board Vice Chair | 3 | $25,000 | $0 |
| Luther M Ragin 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 4 | $25,000 | $0 |
| Meghan Brown 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 3 | $25,000 | $0 |
| Perry Moriearty 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 3 | $25,000 | $0 |
| Phyllis Goff 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 4 | $25,000 | $0 |
| Roger Sit 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| David Crosby 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 1 | $10,000 | $0 |
| Robert Struyk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 2 | $10,000 | $0 |
| Michael Barry 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 1 | $10,000 | $0 |
| Roy Swan 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 1 | $10,000 | $0 |
990-PF for the year ended December 31, 2021: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Tonya Allen 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | President | 40 | $653,846 | $76,183 |
| Kara Carlisle 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | VP - Programs Highest-paid employee | 40 | $303,494 | $66,040 |
| Nichol Higdon 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | VP OF FIN & OP & Secretary | 40 | $302,695 | $42,624 |
| Lee Sheehy 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Interim President | 40 | $228,779 | $26,934 |
| Na Eng 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Dir, Communications Highest-paid employee | 40 | $218,070 | $33,490 |
| Jane Maland Cady 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Program Director Highest-paid employee | 40 | $187,865 | $51,798 |
| Stephanie Duffy 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Dir Grants Info Mgmt Highest-paid employee | 40 | $187,341 | $51,804 |
| David Nicholson 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Program Director Highest-paid employee | 40 | $178,476 | $42,191 |
| Flannery Clark 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Assistant Secretary | 40 | $85,018 | $13,656 |
| Noa Staryk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Board Chair | 6 | $35,000 | $0 |
| Erika Binger 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Treasurer | 5 | $25,000 | $0 |
| Anne Binger 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| Dana Anderson 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| Kathy Tunheim 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Finance Committee Chair | 16 | $25,000 | $0 |
| Luther M Ragin 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 3 | $25,000 | $0 |
| Meghan Brown 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| Perry Moriearty 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| Phyllis Goff 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Vice Chair | 6 | $25,000 | $0 |
| Roger Sit 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director | 2 | $25,000 | $0 |
| Theodore Staryk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Director & Assistant Treasurer | 2 | $25,000 | $0 |
| David Crosby 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 2 | $5,000 | $0 |
| Robert Struyk 710 S 2ND ST STE 400, Minneapolis, MN 554012290 | Investment Committee | 4 | $5,000 | $0 |
Address and contacts
- Address (IRS master file)
- 921 WASHINGTON AVE S, MINNEAPOLIS, MN 55415-1257
- Signed the 990-PF
- NICHOL HIGDON, VP of Finance & Operations
- Phone
- (612) 333-4220
- Website
- https://www.mcknight.org/
- Return prepared by
- CROWE LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 41-0754835
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T21)
- Assets (IRS master file)
- $2,712,040,525
- Income (IRS master file)
- $955,380,784
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $189,397,037 | $209,369,790 | $2,712,040,525 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $106,746,947 | $162,849,317 | $2,661,443,888 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | $364,557,003 | $177,049,148 | $3,199,348,023 | XML |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0754835).
Questions about MCKNIGHT FOUNDATION
- What is the EIN of MCKNIGHT FOUNDATION?
- The employer identification number (EIN) of MCKNIGHT FOUNDATION is 41-0754835.
- Is MCKNIGHT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to MCKNIGHT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does MCKNIGHT FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of MCKNIGHT FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MCKNIGHT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of MCKNIGHT FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 22 people; 22 received compensation from the organization, the highest $739,674 (Tonya Allen, Director, President).
- How much revenue does MCKNIGHT FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $189,397,037, expenses of $209,369,790 and total assets of $2,712,040,525 at year end.
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