Fueling Economic Mobility in 2024

We invest in community-led efforts to disrupt inequitable practices and systems, stabilize communities, and advance racial and economic justice.

Racial & Economic Justice Grants – We awarded more than $3.1 million to 79 local organizations that are engaged in policy advocacy and movement building, working to build generational wealth in communities of color, and advancing narrative strategies focused on racial and economic justice. See who we funded.

GroundBreak – Through the GroundBreak Coalition, the Minneapolis-St. Paul region has an unprecedented opportunity to lead the nation in committing the resources necessary to achieve racial and economic justice. By unlocking $5.3 billion in capital over the next 10 years, GroundBreak looks to expand wealth-building opportunities and close racial and wealth gaps. The Minneapolis Foundation is proud to be a leader of this coalition. In 2024, we committed $10 million to the effort and established a variety of options for fundholders and investors to participate in GroundBreak through grantmaking, impact investing, and more. Learn more about GroundBreak and how to get involved today.

The Wheels of Economics – North Minneapolis businesses and nonprofits play an important role in the prosperity of communities throughout the metro area, and the Minneapolis Foundation has a long track record of investing in projects that leverage the Northside’s many assets to fuel economic growth. In October, we teamed up with the Destination Northside Coalition to offer our fundholders an up-close look at some of the exciting work that is happening there today. Learn about the sites we visited and many more in this snapshot of Northside projects.

Main Street Grants – In 2024, we committed an additional $7.6 million to 18 development projects benefiting from the state’s Main Street Economic Revitalization Program. These grants support small businesses, property owners, developers, and nonprofits pursuing commercial projects along key corridors in Minneapolis, Brooklyn Center, and Brooklyn Park. Funding prioritizes communities of color that were hit hard by COVID-19 and the destruction following the murder of George Floyd. To date, the Minneapolis Foundation and our partners at LISC Twin Cities, Propel Nonprofits, and the Metropolitan Economic Development Association (Meda) have committed more than $29 million in Main Street grants to 74 projects, from the Northside renovation of a printing press’s warehouse to construction of a new wellness and cultural center serving local Indigenous communities.

Convening on Racial & Economic Justice – In July, we invited fundholders to sample delicious grilled cheese sandwiches at All Square and connect with several recent Foundation grant recipients who are carrying the torch for justice, from a Latinx advocacy group that is rebuilding on Lake Street to a nonprofit focused on empowering women entrepreneurs. We heard about the challenges and opportunities they see today, as well as the role that philanthropy can play as our community continues to push for change.

Watch highlights of our Summer 2024 panel discussion with leaders from WomenVenture, All Square, and Communities Organizing Latine Power and Action (COPAL).

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Learn more about our work in 2024 by exploring our year in review.