Borealis Philanthropy

Tax-deductible

Minneapolis, MN501(c)(3)Since 2013Arts & CultureEIN 46-4598642

Borealis philanthropy directs resources to people building powerful, thriving communities that serve all of US, with those most impacted by injustice leading the way. We invest in leaders, organizations, and movements using diverse and innovative strategies to pursue transformational change, and we work with donors to support movements in ways they may not be able to DO on their own. Through our work with both funders and grantee partners, we aim to shift power and invest in communities.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Run by 11 volunteers and 36 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
2 of 5
years in the black
Concern: 3 of the last 5 filings show a deficit.
Pt I · Ln 19 · 5 filings
How much reaches the programs?
83%
of spending
Looks good: 83% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
What are leaders paid?
$1.5M
to officers and key staff · 3% of spending
Looks good: leaders' pay is 3% of spending; 15% or less looks good.
Pt VII · Sec A
Do they have reserves?
13 mo
of spending, in cash
Looks good: 12.6 months of spending in cash; 3 or more looks good.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
35
named funders · $28.4M
Looks good: 35 funders name it on their filings; 3 or more looks good.
Funders’ Sch. I, 990-PF
Do they carry debt?
$14.2M
liabilities
Looks good: debts are 18% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
8
independent of 8 voting board members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$42.5M
+8% vs prior year
Spent
$54.7M
To programs
83%
Net assets
$64.1M
By yearFY2020–FY2024
Revenue
$42.5M
FY2024▲ +8%
Revenue by fiscal year
FY2020$50.6M
FY2021$83.9M
FY2022$37.5M
FY2023$39.4M
FY2024$42.5M
Expenses
$54.7M
FY2024▲ +23%
Expenses by fiscal year
FY2020$36.4M
FY2021$39.2M
FY2022$45.6M
FY2023$44.6M
FY2024$54.7M
Net assets
$64.1M
FY2024▼ -12%
Net assets by fiscal year
FY2020$40.3M
FY2021$85.0M
FY2022$77.2M
FY2023$73.1M
FY2024$64.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CBorealis Philanthropy
EINHdr · item D46-4598642
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 2014
Year of formationHdr · item L2013
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CMinneapolis, MN
NTEE classificationIRS BMFArts & Culture (A99)
WebsiteHdr · item Jborealisphilathropy.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.16 Fundraising $0.02
Program services83%$45.1M
Management & general16%$8.6M
Fundraising2%$933K
Total functional expensesLn 25$54.7M

Financial health

Is it on solid ground?

Program efficiency
83%
of spending reaches programs▼ -6% vs prior filing year
Operating runway
12.6mo
months of highly liquid reserves at operating expense rate▼ -33% vs prior filing year
Surplus margin
-29%
revenue over expenses, this year▼ -117% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$78.2M
FY2024▼ -10%
Total assets by fiscal year
FY2020$46.7M
FY2021$93.1M
FY2022$88.6M
FY2023$86.8M
FY2024$78.2M
Total liabilities
$14.2M
FY2024▲ +3%
Total liabilities by fiscal year
FY2020$6.4M
FY2021$8.1M
FY2022$11.4M
FY2023$13.7M
FY2024$14.2M
Revenue less expensesPt I · Ln 19−$12.2M
Total assetsPt X · Ln 16$78.2M
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48

Balance Sheet

Part X · end of year
CashLn 1$57.5M
Total assetsLn 16$78.2M
Total liabilitiesLn 26$14.2M
Total net assetsLn 32$64.1M
Months of cash on handcomputed12.6

Statement of Revenue

Part VIII
Contributions & grants$41.3M · 97%
Investment income$1.2M · 3%
Contributions & grants97%$41.3M
Investment income3%$1.2M
Other revenue$5K
Total revenueLn 12$42.5M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $57.5M · Operating expenses/yr $54.7M
12.6 months
Where the money goes
Program services
Program services $45.1M · Total expenses $54.7M
83%
Management & General
Management & general $8.6M · Total expenses $54.7M
16%
Fundraising
Fundraising $933K · Total expenses $54.7M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $618K · Solicited contributions (3-yr avg) $38.6M
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $41.3M · Total revenue $42.5M
97%
Government reliance
Government grants — · Total revenue $42.5M
—
Earned-income share
Program service revenue $0 · Total revenue $42.5M
0%
Investment reliance
Investment income $1.2M · Total revenue $42.5M
+3%
Program self-sufficiency
Program service revenue $0 · Total expenses $54.7M
0%
Growth & trend
Revenue growth (YoY)
This year $42.5M · Prior year $39.4M
+8%
Revenue CAGR
FY2020 $50.6M · FY2024 $42.5M
-4%
Net-asset trend (YoY)
End of year $64.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $42.5M · Expenses $54.7M
-29%
Liabilities-to-Assets
Total liabilities — · Total assets $78.2M
—
Net-asset ratio
Net assets $64.1M · Total assets $78.2M
82%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $78.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Amoretta Morris · Reported title PRESIDENT · Highest reported compensation $254K · Total expenses $54.7M
0.5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $8.3M · Total expenses $54.7M
15%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 83%——
Overhead ratio 16%——
Fundraising cost ratio 2%——
Revenue growth 8%——
Legal fee ratio 0.2%——
Accounting fee ratio 0.05%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$254,402Pt VII · Sec A
Managing Director
$218,888Pt VII · Sec A
Director of Development
$182,962Pt VII · Sec A
Director of Communications
$177,792Pt VII · Sec A
Director of People & Culture
$177,049Pt VII · Sec A
Director of Operations
$170,475Pt VII · Sec A
Program Director
$164,142Pt VII · Sec A
Director of Finance
$163,772Pt VII · Sec A

Amoretta Morris’s $254K as President is at the 29th percentile of top reported officer pay among 749 $10–100M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Amoretta Morris$254,402$205,636$208,273$167,904—
Randolph Miller$218,888$175,406———
Tammea Tyler - Left July 2020————$211,981
Rickke Mananzala - Left April 2020————$200,043
Maya Wiener Berkowitz$182,962$153,807———
Carrie Coley$177,792$153,499———
Nnene J Essien$177,049$124,754———
Ryan Li Dahlstrom——$173,742$150,655—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Borealis Philanthropy executive salaries →

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Governance & Policies

Part VI
  • 8Voting board membersPt VI · Ln 1a
  • 8Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Connects donors with grassroots leaders to fund and strengthen social justice movements, shifting philanthropic resources toward communities most impacted by systemic inequity.

Provided by the organization

This section is blank until Borealis Philanthropy claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $21.3M of program spending, described in the organization's own filed words · FY2024.
01

The black-led movement fund supports the movement for black lives (M4BL) and other values-aligned organizations to better shape policy agendas for black communities, create alternatives to institutions that have been harmful to black people, and build local black community power.

$8.5Mprogram expense
02

The disability inclusion fund seeds and expands the capacity of the disability justice movement by resourcing powerful grassroots leaders at the forefront of dismantling ableism through policy advocacy, community organizing, art, and narrative CHANGE.2024 HIGHLIGHTS:$5.1M in GRANTS$142K in response GRANTS75 grantee partners

$6.5Mprogram expense
03

The racial equity in philanthropy fund has invested in philanthropy-serving organizations to inform, educate, and equip funders to integrate racial equity policies and practices into their grantmaking programs. This fund will formally sunset in 2025. 2024 HIGHLIGHTS:$6.1M in grants

$6.4Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 35 funders →
Grants paid · 1,612 grants · $165.7M · 2020–2024
Social Good Fund INCCA · FY2024$988,000
Hispanics in PhilanthropyCA · FY2024$558,000
Allied Media Projects INCMI · FY2024$452,400
Tides CenterCA · FY2024$329,000
Solidaire Network INCCA · FY2024$300,000
Beyond the BarsFL · FY2024$300,000
Equity in the Center INCDC · FY2024$294,000
Transgender Law CenterCA · FY2024$289,000
Womens Funding NetworkCA · FY2024$279,000
Emerging Practitioners in PhilanthropyFY2024$279,000
See all 1,612 grants →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $42.5M$54.7M+8% 990 PDF
FY2023 $39.4M$44.6M+5% 990 PDF
FY2022 $37.5M$45.6M-55% 990 PDF
FY2021 $83.9M$39.2M+66% 990 PDF
FY2020 $50.6M$36.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $54,652,165 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $40,129,865$40,129,865
IX-5 Pay of current officers, directors and key staffManagement $710,397$710,397
IX-7 Other salaries and wagesPrograms $2,474,420 · Management $2,686,529 · Fundraising $558,063$5,719,012
IX-8 Pension plan contributionsPrograms $97,290 · Management $104,905 · Fundraising $21,942$224,137
IX-9 Other employee benefitsPrograms $450,830 · Management $557,984 · Fundraising $101,677$1,110,491
IX-10 Payroll taxesPrograms $193,023 · Management $260,459 · Fundraising $43,295$496,777
IX-11b Legal feesManagement $83,891$83,891
IX-11c Accounting feesManagement $27,885$27,885
IX-11g Other fees for servicesPrograms $820,375 · Management $2,430,763 · Fundraising $156,076$3,407,214
IX-13 Office expensesPrograms $3,176 · Management $356,820$359,996
IX-14 Information technologyManagement $476,856$476,856
IX-16 OccupancyManagement $11,839$11,839
IX-17 TravelPrograms $498,762 · Management $469,765 · Fundraising $33,565$1,002,092
IX-19 Conferences, conventions and meetingsPrograms $378,254 · Management $320,244 · Fundraising $17,952$716,450
IX-23 InsuranceManagement $39,298$39,298
IX-24 Other expenses (24a–d)Programs $71,970 · Management $63,995$135,965
IX-25 Total functional expensesPrograms $45,117,965 · Management $8,601,630 · Fundraising $932,570$54,652,165

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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