Babaamaajimowinan (Telling of news in different places)

Some of Minnesota's largest companies have quietly closed their foundations, shifting how they give

3M was one of the first companies in the country to establish a charitable foundation in 1953.

But in 2022, the Maplewood-based company quietly closed its foundation, switching to control its philanthropy internally as a company, not through a separate charitable arm. In Golden Valley, General Mills did the same in 2021, while in Minneapolis, Thrivent shuttered its foundation in 2020.

While all three companies say their public generosity won't shrink without a foundation, some nonprofit leaders worry the closures will decrease transparency and could result in less funding to local nonprofits, especially at a time when foundation grants and corporate giving is declining nationwide.

https://www.startribune.com/some-of-minnesotas-largest-companies-have-quietly-closed-their-foundations-shifting-how-they-give/600358767/

 

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