Prospect Creek Foundation
Prospect Creek Foundation is a private 501(c)(3) foundation established in 1993 and based in Wayzata, Minnesota. The foundation operates as a family foundation focused on philanthropic grantmaking to nonprofit organizations.
Key facts about Prospect Creek Foundation
- EIN
- 41-1736420
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $4,858,565
- Grants made (2024)
- 20
- Average grant
- $242,928
- Median grant
- $5,000
- New grantees (estimate)
- 10% first-time grantees (2 of 20, 2024)
- Primary geography
- California (62% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Prospect Creek Foundation funds
By grant dollars, the top recipient states for Prospect Creek Foundation's 20 itemized 2024 grants were California (62%) and Minnesota (37%). The most frequent recipient cities were Minneapolis, MN (6 grants), St Paul, MN (5 grants) and Santa Barbara, CA (3 grants). 100% of grants with a stated purpose were for general or operating support.
Is Prospect Creek Foundation open to new grantees?
10%
first-time grantees, 2024
In 2024, 2 of 20 grantees (10%) were first-time recipients. First grants averaged $1.5M; repeat grants $103K. How we count
Medians: $1.5M first-time, $5K repeat.
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Prospect Creek Foundation
- How to evaluate Prospect Creek Foundation as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$4.9M
+39.5% YoY
Grant Count
20
-20.0% YoY
Avg Grant Size
$243K
+74.4% YoY
Mission & Focus Areas
The foundation's primary grantmaking emphasis is on projects that help people help themselves. Core funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
Ready to take the next step with Prospect Creek Foundation?
Geographic Focus
Where this funder awards grants
Prospect Creek Foundation primarily supports nonprofit organizations in the following regions:
- Napa Valley, California
- Minneapolis/St. Paul, Minnesota area
- Additional funding in Illinois
Grant Distribution by State
Share of all 20 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023 (most recent filing):
- Total Assets: $29,018,623
- Total Giving: $3,482,728
- Revenue: $692,000
- Expenses: $3,530,000
- Total Liabilities: $0
Historical Giving: The foundation has distributed $4,858,565 in total giving across its history, making it one of the larger foundations in Wayzata by total giving volume.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
229 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Schwab Charitable (DAFGIVING360) ($3,000,000), Great MN Schools ($1,200,000), Summit Academy ($550,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SCHWAB CHARITABLE (DAFGIVING360) San Francisco, CA | OPERATIONAL | $3,000,000 |
| GREAT MN SCHOOLS Minneapolis, MN | OPERATIONAL | $1,200,000 |
| SUMMIT ACADEMY Minneapolis, MN | OPERATIONAL | $550,000 |
| PRINCETON UNIVERSITY Princeton, NJ | OPERATIONAL | $25,065 |
| MINNEAPOLIS INSTITUTE OF ARTS Minneapolis, MN | OPERATIONAL | $20,000 |
| BLAKE SCHOOL Minneapolis, MN | OPERATIONAL | $15,000 |
| ETC FOUNDATION Santa Barbara, CA | OPERATIONAL | $7,500 |
| MINNESOTA OPERA Minneapolis, MN | OPERATIONAL | $5,000 |
| SANTA BARBARA COTTAGE HOSPITAL FOUNDATION Santa Barbara, CA | OPERATIONAL | $5,000 |
| SANTA BARBARA MUSEUM OF ART Santa Barbara, CA | OPERATIONAL | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Martha Clark Atwater | Director | — | — |
| H B Atwater Jr | Director | — | — |
| Elizabeth Atwater Connolly | Director | — | — |
Contact Information
- Address: 636 Ferndale Rd W, Wayzata, MN 55391-9628
- Telephone: 612-839-0666
- EIN: 41-1736420
Frequently Asked Questions
What does Prospect Creek Foundation fund?
The foundation's primary grantmaking emphasis is on projects that help people help themselves. Core funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Prospect Creek Foundation?
**Grant Amounts:** Typical awards range from $500 to $1,900,000. **Recent Activity:** The foundation does not currently list live grant opportunities.
Where does Prospect Creek Foundation make grants?
Prospect Creek Foundation primarily supports nonprofit organizations in the following regions: • Napa Valley, California • Minneapolis/St. Paul, Minnesota area • Additional funding in Illinois
What size grants does Prospect Creek Foundation award?
In 2024, Prospect Creek Foundation awarded 20 grants totaling $4.9M — an average of about $243K per grant, based on its IRS Form 990 filings.
What is Prospect Creek Foundation's EIN?
Prospect Creek Foundation's EIN (Employer Identification Number) is 41-1736420. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.