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Patch Foundation EIN 41-1873951

Patch Foundation

EIN  41-1873951 Private foundation / grantmaker Minneapolis, MN
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Size
$100K–1M
What they do
A private foundation based in Minneapolis, MN. It reported about $810K in revenue for 2025.
Leadership
Carolyn Sample · President
Money in and out
$810K revenue, $929K expenses
Bottom line
—

A private foundation based in Minneapolis, MN. It reported about $810K in revenue for 2025. For fiscal year 2025 it reported $810K in revenue, $929K in expenses, and $3.7M in net assets.Pt I

Grants paid & assets · FY2025
Total revenue
$810K
Pt VIII · Ln 12
Total expenses
$929K
Pt IX · Ln 25
Net assets
$3.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$119K
Total assets
3.7M
deployed as grants and operations
Grants paid
923K
in FY2025
Grants made
37grants
total in period
Payout rate
25%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 37 grants · $923K · 2025–2025
Salem Covenant ChurchFY2025$150,000
Evangelical Convenant ChurchFY2025$150,000
Covenant World ReliefFY2025$150,000
The Salvation ArmyFY2025$100,000
University of Minnesota FoundationFY2025$50,000
Second Harvest HeartlandMN · FY2025$50,000
Minnesota Adult & Teen ChallengeFY2025$25,000
Metro Hope Ministries INCMN · FY2025$25,000
Loaves and FishesFY2025$25,000
Feed My Starving Children INCMN · FY2025$25,000
People Serving PeopleFY2025$20,000
Agate Housing and Services INCMN · FY2025$20,000
Union Gospel MissionFY2025$10,000
True FriendsFY2025$10,000
Simpson Housing Services INCMN · FY2025$10,000
Homeward BoundFY2025$10,000
Habitat for HumanityFY2025$10,000
Courage Kenny Rehabilitation InstituteFY2025$10,000
See all 37 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV12
Average grantPart XV$25K
Median grantPart XV$5K
Largest grantPart XV$150K
Top cause focusNTEEHuman Services (11%)

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$810K
FY2025▲ +259%
Expenses
$929K
FY2025▼ -4%
Total assets
$3.7M
FY2025▼ -3%
Total liabilities
$0
FY2025
Total revenue
$810K
Pt VIII · Ln 12
Total expenses
$929K
Pt IX · Ln 25
Net assets
$3.7M
Pt X · Ln 32
Total assetsPt II$3.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPatch Foundation
EINHdr · item D41-1873951
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T90Z)
Ruling yearIRS BMFMay 1997

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Patch Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$700K · 86%
Investment income$110K · 14%
Contributions & grants86%$700K
Investment income14%$110K
Total revenueLn 12$810K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.99 Operating & administrative $0.01
Grants & contributions paid99%$923K
Operating & administrative1%$6K
Total functional expensesLn 25$929K

Balance Sheet

Part X · end of year
CashLn 1$967K
Total assetsLn 16$3.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$3.7M
Months of cash on handcomputed12.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $3.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $810K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $810K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $810K · Prior year $225K
+259%
Revenue CAGR
FY2020 $558K · FY2025 $810K
+8%
Net-asset trend (YoY)
End of year $3.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $810K · Expenses $929K
-15%
Liabilities-to-Assets
Total liabilities — · Total assets $3.7M
—
Net-asset ratio
Net assets $3.7M · Total assets $3.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Carolyn Sample · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $929K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 259%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$810K revenue · viewing · ⤓ 990 PDF
FY2024$225K revenue · ⤓ 990 PDF
FY2023$228K revenue · ⤓ 990 PDF
FY2022$254K revenue · ⤓ 990 PDF
FY2021$471K revenue · ⤓ 990 PDF
FY2020$558K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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