Anne Ray Foundation
Anne Ray Foundation is a public charity based in Eden Prairie, Minnesota. Its mission is to support designated organizations in making a measurable and sustainable difference on shared priority problems; its 2024 filing reports 108 grants totaling $167,021,409.
Anne Ray Foundation at a glance
In short: Anne Ray Foundation gave $167.0M across 108 grants in 2024 (avg $1.5M), top state Virginia. 6% of 2024 grantees were new. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $167,021,409
- -0.3% vs 2023
- Grants made (2024)
- 108
- +8.0% vs 2023
- Average grant
- $1,546,495
- -7.7% vs 2023
- Median grant
- $1,058,500
- Total assets
- $4,971,009,688
- +2.1% vs 2023
- New grantees (estimate)
- 6% first-time grantees (1 of 18, 2024; small sample)
- Primary geography
- Virginia (42% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Anne Ray Foundation
- Invitation Only
-
Grant proposals are by invitation.
- Contact
Mailing address: 6889 Rowland Road, Eden Prairie, MN 55344
Phone: (952) 540-4053
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Anne Ray Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was The Nature Conservancy ($38.3M across 18 grants). Together the top 10 received $153.9M.
Grant Size Distribution
497 grants across all recorded years
The most common grant size was in the $1–5M range: 206 grants of 497 (41%).
Geographic Focus
Where this funder awards grants
In 2024, grant dollars by recipient state were distributed as follows: Virginia, 42%; District of Columbia, 18%; Illinois, 14%; California, 12%; and Kentucky, 12%. The foundation’s filing also describes work across its seven program domains, including conservation, disaster response, arts, and student success.
Grant Distribution by State
Share of 2024 grant dollars across all 108 itemized grants.
Cities
Is Anne Ray Foundation open to new grantees?
6%
first-time grantees, 2024
In 2024, 1 of 18 grantees (6%) were first-time recipients. With only 18 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $4M; repeat grants $9.6M. How we count
Medians: $4M first-time, $3.4M repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $131.1M (2020) to $167.5M (2023). In 2024 it made 108 grants totaling $167.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Berea College Berea, KY | Support for Student Bridge Support Programming | $8,500,000 |
| The Nature Conservancy Arlington, VA | Building monitoring, evaluation, and learning capacity for conservation impact | $6,000,000 |
| The Nature Conservancy Arlington, VA | Building TNCS Capacity for Traditional and Community Conservation | $5,675,000 |
| Public Broadcasting Service (PBS) Arlington, VA | Support for Programming: PBS Earth IV | $5,000,000 |
| YMCA of the USA Chicago, IL | Support for Its Business Model Optimization | $5,000,000 |
| American National Red Cross International Services Department Washington, DC | Support for Enhanced Response Readiness | $4,000,000 |
| American National Red Cross International Services Department Washington, DC | Support for the Measles and Rubella Initiative | $4,000,000 |
| YMCA of the USA Chicago, IL | Support for the Water Safety Initiative | $4,000,000 |
| The Nature Conservancy Arlington, VA | Supporting Conservation in Tropical Forests Landscapes | $3,960,000 |
| American National Red Cross International Services Department Washington, DC | Support for Underfunded Disasters | $3,833,000 |
Ready to take the next step with Anne Ray Foundation?
Financial History
Multi-year comparison from IRS filings
The Philanthropies’ website reports combined 2024 year-end assets of $8,499,453,552 for Anne Ray Foundation and Margaret A. Cargill Foundation, and combined 2024 grantmaking of $313,767,409. Those figures cover both entities, rather than Anne Ray Foundation alone.
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $4,971,009,688 | $153,086,190 | $172,815,860 | $167,021,409 | 108 | $91,177,950 |
| 2023 | $4,867,708,785 | $198,443,957 | $254,702,109 | $167,527,644 | 100 | $226,538,516 |
| 2022 | $4,754,280,284 | $-82,596,152 | $182,387,086 | $155,041,530 | 94 | $-87,307,130 |
| 2021 | $5,492,759,345 | $429,038,165 | $189,028,867 | $136,128,877 | 91 | $426,644,408 |
| 2020 | $4,822,543,908 | $390,628,330 | $157,989,938 | $131,141,928 | 104 | $432,268,518 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s stated mission is to provide meaningful support to some or all designated supported organizations to make a measurable and sustainable difference on shared priority problems. Its 2024 filing describes seven domains: Animal Welfare; Arts & Cultures; Disaster Relief & Recovery; Environment; Legacy & Opportunity; Quality of Life; and Teachers & Students. The stated work includes animal wellbeing, arts and crafts, disaster preparedness and recovery, conservation, support for children and families, and student success.
The grantees’ own descriptions illustrate the kinds of organizations receiving support. Berea College says it transforms the lives of students and families by admitting students of high promise and low means. The Nature Conservancy describes its mission as conserving the lands and waters on which all life depends. PBS says it provides programming and services intended to educate, inspire, entertain, and express diverse perspectives. The American Red Cross says it works to prevent and alleviate human suffering in emergencies, while YMCA of the USA describes its work as strengthening communities by nurturing young people, promoting health, and fostering social responsibility.
Grantmaking
In 2024, the foundation made 108 grants totaling $167,021,409. Grant amounts ranged from $105,000 to $8,500,000, with a median of $1,058,500. The largest listed award was $8.5 million to Berea College for student bridge support programming. Other major awards included $6 million and $5.675 million to The Nature Conservancy for conservation capacity-building; $5 million to PBS for PBS Earth IV programming; and $5 million to YMCA of the USA for business-model optimization.
Additional large grants included $4 million each to the American National Red Cross International Services Department for enhanced response readiness and the Measles and Rubella Initiative, and $4 million to YMCA of the USA for its water safety initiative. Other listed awards supported underfunded disasters through the Red Cross, PBS Earth V programming, and conservation in tropical forests and freshwater ecosystems.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Christine Morse as board chair; Right Reverend John Chane, Win Neuger, Stuart Tobisman, and Paul Busch as directors; Heather Kukla as president; Naomi Horsager as treasurer/CFO; Elizabeth Borer as secretary/general counsel; Kurian Thomas as vice president of programs; and Shawn Wischmeier as chief investment officer.
Anne Ray Foundation is led by Heather Kukla, President since 2024 (on filings since 2020); 4 of 15 officers listed in 2024 are compensated.
Officers on the 2024 filing
Heather Kukla
President
Secretary, Vice President & General Counsel → Secretary, 2023
Secretary → President, 2024
On filings since 2020
50 hrs/week
No compensation reported
Christine Morse
Board Chair
On filings since 2020
11 hrs/week
$67K (2020) → $84K (2024)
Paul Busch
Director
Director, President & CEO → President & CEO Emeritus, 2023
President & CEO Emeritus → Director, 2024
On filings since 2020
6 hrs/week
$14K (2023) → $55K (2024)
Right Reverend John Chane
Director
On filings since 2020
6 hrs/week
$52K (2020) → $61K (2024)
Win Neuger
Director
On filings since 2020
6 hrs/week
$39K (2020) → $54K (2024)
Christopher Vogt
Investment Director
On filings since 2020
50 hrs/week
No compensation reported
Matthew Minnis
Investment Director
On filings since 2020
50 hrs/week
No compensation reported
Michael Ruetz
Deputy CIO & Investment Director
On filings since 2020
50 hrs/week
No compensation reported
Rodney Overcash
Investment Director
On filings since 2020
50 hrs/week
No compensation reported
Stuart Tobisman
Director
On filings since 2020
4 hrs/week
No compensation reported
Tricia Scrivner
Investment Director
On filings since 2020
50 hrs/week
No compensation reported
Naomi Horsager
Treasurer & CFO
On filings since 2020
50 hrs/week
No compensation reported
Shawn Wischmeier
Chief Investment Officer
On filings since 2020
50 hrs/week
No compensation reported
Kurian Thomas
Vice President of Programs
On filings since 2022
50 hrs/week
No compensation reported
Elizabeth Borer
Secretary & General Counsel
On filings since 2023
50 hrs/week
No compensation reported
Former officers (1)
- Former: Terrence Meersman (2020–2022) — Vice President of Programs
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $84K, to Christine Morse (Board Chair). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Anne Ray Foundation
How much does Anne Ray Foundation give each year?
Anne Ray Foundation gave $167.0M across 108 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $167.5M across 100 grants.
What is Anne Ray Foundation's typical grant size?
Anne Ray Foundation's median grant in 2024 was $1,058,500, and its average grant was $1,546,495, across 108 grants on its 2024 IRS Form 990. Organizations receiving their first grant from Anne Ray Foundation that year got $4M on average.
Where does Anne Ray Foundation give grants?
Anne Ray Foundation's top state is Virginia, with 42% of the grant dollars itemized on its 2024 IRS Form 990. The next largest states were District of Columbia (18%) and Illinois (14%). The most frequent recipient cities were Arlington, VA (30 grants), San Diego, CA (23 grants), Washington, DC (21 grants) and Berea, KY (11 grants).
Does Anne Ray Foundation give general operating support?
Occasionally: 6% of Anne Ray Foundation's 2024 grants with a stated purpose (6 of 108) were for general or operating support, per its 2024 IRS Form 990.
Who are Anne Ray Foundation's largest grantees?
Anne Ray Foundation's largest 2024 grantees include The Nature Conservancy ($38,250,000 across 18 grants), American National Red Cross International Services Department ($24,080,000 across 15 grants) and Public Broadcasting Service (PBS) ($24,000,000 across 12 grants), according to its 2024 IRS Form 990. Together they received 52% of its itemized 2024 grant dollars.
How large is Anne Ray Foundation?
Anne Ray Foundation reported $5.0B in total assets on its 2024 IRS Form 990. Its revenue that year was $153.1M.
What does Anne Ray Foundation fund?
The foundation’s stated mission is to provide meaningful support to some or all designated supported organizations to make a measurable and sustainable difference on shared priority problems. See mission & focus areas ↑
How do I apply for a grant from Anne Ray Foundation?
Grant proposals are by invitation. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Anne Ray Foundation's EIN?
Anne Ray Foundation's EIN (Employer Identification Number) is 47-1036008. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 10, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 10, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 14, 2025)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Anne Ray Foundation's focus areas in our free grants database
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—
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Cite this profile
Grantable. (2026). Anne Ray Foundation funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/anne-ray-foundation-morg_6a490f58b42e4fc184e932c9a76e8cf1
BibTeX
@misc{grantable_471036008_2026,
author = {{Grantable}},
title = {{Anne Ray Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/anne-ray-foundation-morg_6a490f58b42e4fc184e932c9a76e8cf1},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Anne Ray Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Anne Ray Foundation down — hundreds of funders to go?