Better Way Foundation
Better Way Foundation is a private family foundation headquartered in Minneapolis, Minnesota. The organization supports the positive development of all children through grants and investments, partnering with communities to build a future where child well-being contributes to strong families and communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$68.2M
+0.0% YoY
Annual Giving
$2.7M
+24.1% YoY
Grant Count
45
+2.3% YoY
Avg Grant Size
$60K
+21.3% YoY
Mission & Focus Areas
Better Way Foundation was established to support the positive development of all children. The foundation is rooted in Catholic social values and focuses on supporting early childhood development in disinvested communities.
Primary funding areas include:
- Early childhood development
- Elementary and secondary education
- Higher education
- Human services
- Philanthropy and grantmaking
- Religion and Christianity, with particular emphasis on Catholic initiatives
- Indigenous community support and culturally grounded education
The foundation prioritizes grantmaking to Indigenous communities and organizations, with particular commitment to revitalizing Indigenous languages and creating culturally grounded education that strengthens identity and pride.
Grantmaking
The foundation made 38 grants in 2023, with total giving of $2,695,000.
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Geographic Focus
Where this funder awards grants
The foundation funds projects across multiple U.S. states including Arizona, California, Colorado, Florida, Georgia, Indiana, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Mexico, Ohio, Oklahoma, Oregon, South Dakota, Washington, and Wisconsin. The foundation also supports international locations including Bukoba and Dar es Salaam.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending December 2023:
- Total Assets: $68,241,414
- Total Revenue: $5,095,584
- Total Expenses: $3,617,435
- Total Liabilities: $2,250,000
- Investment Income and Dividends: $450,176
The foundation maintains nearly 40% of assets in values-aligned impact investments.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $68,241,965 | $68,241,414 | $63,372,543 |
| Revenue | $1,364,999 | $5,095,584 | $-1,855,368 |
| Expenses | $3,004,642 | $3,617,435 | $2,839,926 |
| Qualifying Distributions | $3,464,464 | $4,233,665 | $2,639,493 |
| Net Investment Income | $1,324,380 | $944,548 | $4,095,857 |
| Distributable Amount | $3,219,359 | $3,281,017 | $3,174,451 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
223 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- President/Chair: Karen Rauenhorst
- Vice President: Nicholas Banovetz (highest compensated staff member at $182,634 annually)
- Board of Directors: Includes family and community representation, with members including Sarah Rauenhorst, Andreas Hipple, and Nat Robinson
The foundation was founded by Gerald and Henrietta Rauenhorst, who built a legacy of civic leadership, business impact, and philanthropy.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Nicholas Banovetz | Vice President | 40 | $202,965 |
| Kristen Grubb | Tax Officer | 6 | $13,333 |
| Karen Rauenhorst | Chair/President | 1 | — |
| Judy Rauenhorst Doerr | Chair-elect | 1 | — |
| Janine Geske | Vice Chair/Secretary | 1 | — |
| Stephanie Russell | Treasurer | 1 | — |
| Anita Fineday | Director | 1 | — |
| Cary Buzzelli | Director | 1 | — |
| Gia Rauenhorst | Director | 1 | — |
| Shamsia Ramadhan | Director | 1 | — |
| Tarajean Yazzie-Mintz | Director | 1 | — |
Related Funders
Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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