RBC Foundation - USA
RBC Foundation - USA is a Form 990-PF private foundation based in Minneapolis, Minnesota. It supports nonprofit organizations whose programs make a positive difference in communities where RBC does business.
RBC Foundation - USA at a glance
In short: RBC Foundation - USA gave $12.2M across 8 grants in 2024 (avg $1.5M), mostly in Minnesota. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $12,193,575
- +19.5% vs 2023
- Grants made (2024)
- 8
- +0.0% vs 2023
- Average grant
- $1,524,197
- +19.5% vs 2023
- Median grant
- $430,925
- Total assets
- $112,004
- -85.7% vs 2023
- Primary geography
- Minnesota (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to RBC Foundation - USA
- How to Apply
-
The 2023 filing names Martha Baumbach as the contact and directs applicants to the foundation’s giving guidelines for application information and award restrictions. The filing lists January 30 and June 30 as deadlines; these are past cycles.
- Contact
Application contact: Martha Baumbach
Mailing address: 250 Nicollet Mall Suite 1900, Minneapolis, MN 55401
Phone: (612) 219-7795
Email: martha.baumbach@rbc.com
Website: http://www.rbcwealthmanagement.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from RBC Foundation - USA
RBC Foundation Grants - Minneapolis & St. Paul Metropolitan Area
RBC Foundation - USA
Amount
Up to US $15,000
Deadline
Deadline not published
RBC Foundation Grants - National Program (Outside the Minneapolis/St. Paul Metropolitan Area)
RBC Foundation - USA
Amount
Varies
Deadline
Deadline not published
Who RBC Foundation - USA funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
The largest 2024 recipient was Other Distributions ($9.2M). Together the top 8 received $12.2M.
Grant Size Distribution
39 grants across all recorded years
The most common grant size was in the $100–250K range: 13 grants of 39 (33%).
Geographic Focus
Where this funder awards grants
The 2024 filing shows that 100% of grant dollars went to recipients in Minnesota. The foundation also describes a national grant program for organizations outside the Minneapolis/St. Paul metropolitan area.
Grant Distribution by State
Share of 2024 grant dollars across all 8 itemized grants.
States
Cities
How RBC Foundation - USA gives
- Giving grew 172% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $4.5M (2021) to $12.2M (2024). In 2024 it made 8 grants totaling $12.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Other Distributions Minneapolis, MN | General | $9,243,600 |
| Divisional Program Minneapolis, MN | General | $975,000 |
| Twin Cities Grant Program Minneapolis, MN | General | $700,000 |
| Employee Gift Matching Minneapolis, MN | General | $595,850 |
| CorporateCapital Grants Minneapolis, MN | General | $266,000 |
| Discretionary Funds Minneapolis, MN | General | $210,233 |
| EnvironmentJoint Fund Minneapolis, MN | General | $174,167 |
| United Way Branch Matching Minneapolis, MN | General | $28,725 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Distributable Amount |
|---|---|---|---|---|---|---|---|
| 2024 | $112,004 | $11,523,908 | $12,193,575 | $12,193,575 | 8 | $12,193,575 | $116,535 |
| 2023 | $781,671 | $10,304,123 | $10,202,675 | $10,202,675 | 8 | $10,202,675 | $83,306 |
| 2022 | $680,223 | $6,900,034 | $7,033,430 | $7,033,430 | 7 | $7,033,430 | $83,932 |
| 2021 | $813,620 | $4,888,334 | $4,482,934 | $4,482,934 | 8 | — | $76,591 |
| 2020 | $408,220 | $5,573,352 | $5,745,968 | $5,745,968 | 8 | — | $61,093 |
Under IRS private-foundation payout rules, RBC Foundation - USA reported a distributable amount of $117K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s mission is to improve quality of life in communities where it does business by supporting nonprofit organizations with programs aligned with its funding ambitions. Those ambitions include future-ready skills, inclusive prosperity, and the transition to a net-zero economy.
RBC Wealth Management describes its community support as including financial support for nonprofits serving youth education, human services, and the arts, as well as sponsorships for culturally enriching events and employee giving and volunteer work. Its current national grant program summary also identifies youth programs for ages 15–29, arts access for diverse populations, and mental well-being initiatives as priorities.
Grantmaking
In filing year 2024, the foundation reported 8 grants totaling $12,193,575. The listed grants ranged from $28,725 to $9,243,600, with a median of $430,925. The largest filing entries were Other Distributions ($9,243,600), Divisional Program ($975,000), Twin Cities Grant Program ($700,000), and Employee Gift Matching ($595,850); each was listed with a general purpose.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Martha Baumbach as President and Julie Allen as Senior Manager. It lists Wally Chapman, Darryl Traweek, Pat Vaughan, Janet Becker, Erin Murphy, Cara McAdaragh, Anya Norris, and Laurie Mount as members of the Advisory Board.
RBC Foundation - USA is led by Martha Baumbach, President on every filing since 2020; none of the 14 officers listed in 2024 report compensation.
Officers on the 2024 filing
Martha Baumbach
President
On filings since 2020
No compensation reported
Julie Allen
Senior Manager
Manager → Senior Manager, 2022
On filings since 2020
No compensation reported
Shareen Luze
Advisory Board
On filings since 2020
No compensation reported
Darryl Traweek
Advisory Board
On filings since 2021
No compensation reported
Janet Becker
Advisory Board
On filings since 2021
No compensation reported
Pat Vaughan
Advisory Board
On filings since 2021
No compensation reported
Tom Sagissor
Advisory Board
On filings since 2021
No compensation reported
Wally Chapman
Advisory Board
On filings since 2021
No compensation reported
Anya Norris
Advisory Board
On filings since 2022
No compensation reported
Cara McAdaragh
Advisory Board
On filings since 2022
No compensation reported
Erin Murphy
Advisory Board
On filings since 2022
No compensation reported
Laurie Mount
Advisory Board
On filings since 2022
No compensation reported
Madeline Johnson
Advisory Board
On filings since 2023
No compensation reported
Danelle Dean
Advisory Board
New on the 2024 filing
No compensation reported
Former officers (19)
- Former: Christi Lutgen (2022–2023) — Advisory Board
- Former: James Carlisle (2022–2023) — Advisory Board
- Former: Sally Kolar (2021–2022) — Advisory Board
- Former: Nick Sandvig (2022) — Advisory Board
- Former: Kristen Kimmell (2020–2021) — Advisory Board
- Former: Shana Deuel (2020–2021) — Advisory Board
- Former: Ann Kagel (2021) — Advisory Board
- Former: Cally Schlotec (2021) — Advisory Board
- Former: Ellie Madson (2021) — Advisory Board
- Former: Kaitlin Hudlik (2021) — Advisory Board
- Former: Maren Gurung (2021) — Advisory Board
- Former: Sheena Nikolaus (2021) — Advisory Board
- Former: David Upin (2020) — Advisory Board
- Former: Jason Bowles (2020) — Advisory Board
- Former: Mark Gorius (2020) — Advisory Board
- Former: Sandy Duerre (2020) — Advisory Board
- Former: Tom Schulenberg (2020) — Advisory Board
- Former: Vikesh Nemani (2020) — Advisory Board
- Former: Warren Kelly (2020) — Advisory Board
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.
Frequently asked questions about RBC Foundation - USA
How much does RBC Foundation - USA give each year?
RBC Foundation - USA gave $12.2M across 8 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $10.2M across 8 grants.
What is RBC Foundation - USA's typical grant size?
RBC Foundation - USA's median grant in 2024 was $430,925, and its average grant was $1,524,197, across 8 grants on its 2024 IRS Form 990-PF.
Where does RBC Foundation - USA give grants?
RBC Foundation - USA gives mostly in Minnesota: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Minneapolis, MN (8 grants).
Does RBC Foundation - USA give general operating support?
Yes: 100% of RBC Foundation - USA's 2024 grants with a stated purpose (8 of 8) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are RBC Foundation - USA's largest grantees?
RBC Foundation - USA's largest 2024 grantees include Other Distributions ($9,243,600), Divisional Program ($975,000) and Twin Cities Grant Program ($700,000), according to its 2024 IRS Form 990-PF. Together they received 90% of its itemized 2024 grant dollars.
How large is RBC Foundation - USA?
RBC Foundation - USA reported $112K in total assets on its 2024 IRS Form 990-PF. It paid out $12.2M in qualifying distributions that year, against a required minimum of $117K (roughly 5% of its investment assets).
What does RBC Foundation - USA fund?
The foundation’s mission is to improve quality of life in communities where it does business by supporting nonprofit organizations with programs aligned with its funding ambitions. Those ambitions include future-ready skills, inclusive prosperity, and the transition to a net-zero economy. See mission & focus areas ↑
How do I apply for a grant from RBC Foundation - USA?
The 2023 filing names Martha Baumbach as the contact and directs applicants to the foundation’s giving guidelines for application information and award restrictions. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is RBC Foundation - USA's EIN?
RBC Foundation - USA's EIN (Employer Identification Number) is 41-6030639. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS August 17, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS June 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS August 17, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS June 10, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 22, 2025)
- IRS filings on file for fiscal years 2020–2024
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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from RBC Foundation - USA'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.
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