RBC Foundation - USA
RBC Foundation - USA is a corporate foundation of RBC Wealth Management, headquartered in Minneapolis, Minnesota. Established in 1960 and incorporated in Minnesota, the foundation operates as a 501(c)(3) organization dedicated to improving the quality of life in communities where RBC conducts business. The foundation supports nonprofit organizations that make a positive difference and promote diversity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$12.2M
+19.5% YoY
Grant Count
8
+0.0% YoY
Avg Grant Size
$1.5M
+19.5% YoY
Mission & Focus Areas
The foundation aims to "improve the quality of life in the communities where we do business by supporting non-profit organizations that make a positive difference and promote diversity."
The foundation prioritizes three core areas:
- Youth Success: Mental Wellbeing — Including mental health support and navigation programs
- Youth Success: Realizing Opportunities — K-12 education and higher education initiatives
- Environment — Environmental sustainability and conservation efforts
The foundation also supports organizations involved with arts and culture, human services, and civic affairs.
Grantmaking
Grant Range
** $30,000 to $7.7 million, with typical awards ranging from $28,725 to $9,243,600
How to Apply
** The foundation does not accept unsolicited applications or letters of intent. Nonprofits seeking funding are encouraged to focus on scalable projects related to youth development or environmental sustainability to gain the foundation's attention.
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Geographic Focus
Where this funder awards grants
The foundation funds nationally, with emphasis on communities where RBC maintains a business presence. Particular emphasis is placed on the Minneapolis/Twin Cities metropolitan area and the Minneapolis/St. Paul region. The foundation operates two primary grant programs: one for the Minneapolis & St. Paul Metropolitan Area and another for national programs outside this region.
As a founding member of the Minnesota Keystone Program, RBC pledges a percentage of its profits to charity annually.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Fiscal Year (Ending October 2023):
- Total Assets: $781,671
- Total Revenue: $10,304,123
- Total Expenses: $10,202,675
- Total Giving: $12,193,575 (based on 2024 data)
Revenue Trend:
- FY 2023: $10,304,123 (49.3% increase from prior year)
- FY 2022: $6,900,034
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
39 grants across all recorded years
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
Rolling / Open
RBC Foundation Grants - National Program (Outside the Minneapolis/St. Paul Metropolitan Area)
RBC Foundation - USA
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Other Distributions ($9,243,600), Divisional Program ($975,000), Twin Cities Grant Program ($700,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Twin Cities Grant Program Minneapolis, MN | General | $700,000 |
| CorporateCapital Grants Minneapolis, MN | General | $266,000 |
| Divisional Program Minneapolis, MN | General | $975,000 |
| United Way Branch Matching Minneapolis, MN | General | $28,725 |
| Discretionary Funds Minneapolis, MN | General | $210,233 |
| EnvironmentJoint Fund Minneapolis, MN | General | $174,167 |
| Other Distributions Minneapolis, MN | General | $9,243,600 |
| Employee Gift Matching Minneapolis, MN | General | $595,850 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Martha Baumbach — President
- Julie Allen — Senior Manager
- Wally Chapman — Advisory Board
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Martha Baumbach | President | — | — |
| Julie Allen | Senior Manager | — | — |
| Wally Chapman | Advisory Board | — | — |
| Darryl Traweek | Advisory Board | — | — |
| Pat Vaughan | Advisory Board | — | — |
| Janet Becker | Advisory Board | — | — |
| Erin Murphy | Advisory Board | — | — |
| Cara McAdaragh | Advisory Board | — | — |
| Anya Norris | Advisory Board | — | — |
| Laurie Mount | Advisory Board | — | — |
| Madeline Johnson | Advisory Board | — | — |
| Tom Sagissor | Advisory Board | — | — |
| Shareen Luze | Advisory Board | — | — |
| Danelle Dean | Advisory Board | — | — |
Recent News & Activity
Recent developments and announcements
Recent grant recipients include:
**Ronald McDonald House New York** — Awarded $1.05 million grant (2024)
AAPA, PA Foundation Awarded Grant to Improve Mental Health in ...**AAPA and PA Foundation** — Awarded grant to improve mental health in students (2024)
AAPA, PA Foundation Awarded Grant to Improve Mental Health in ...**HRI (Health Research Institute)** — Received funding to help build capacity for MBC in Canada (2026)
HRI Receives Funding to Help Build Capacity for MBC in CanadaThe foundation has also invested in environmental community initiatives and continues to support organizations addressing youth mental health, education, and environmental sustainability.
AAPA, PA Foundation Awarded Grant to Improve Mental Health in ...Contact Information
- Address: 250 Nicollet Mall, Suite 1900, Minneapolis, MN 55401
- Phone: 612-219-7795 or 612-371-2936
- Email: fndapplications@rbc.com
- Partnership Inquiries: FoundationUSA@RBCCM.com
- Website: www.rbcwealthmanagement.com
Frequently Asked Questions
What does RBC Foundation - USA fund?
The foundation aims to "improve the quality of life in the communities where we do business by supporting non-profit organizations that make a positive difference and promote diversity." The foundation prioritizes three core areas: • **Youth Success: Mental Wellbeing** — Including mental health support and navigation programs • **Youth Success: Realizing Opportunities** — K-12 education and higher education initiatives • **Environment** — Environmental sustainability and conservation efforts Th…
How do I apply for a grant from RBC Foundation - USA?
**Grant Range:** $30,000 to $7.7 million, with typical awards ranging from $28,725 to $9,243,600 **Annual Giving:** Approximately $10.2 million distributed through approximately 8 grants annually **Median Grant Size:** $228,000 **Decision Timeline:** Approximately 90 days **Grant Programs Include:** • Environment Joint Fund: $171,000 - $276,000 annually • Divisional Program: $953,000 - $975,000 annually • Corporate Capital Grants: $192,000 - $242,000 annually • RBC Youth Mental Well-being Proje…
Where does RBC Foundation - USA make grants?
The foundation funds nationally, with emphasis on communities where RBC maintains a business presence. Particular emphasis is placed on the Minneapolis/Twin Cities metropolitan area and the Minneapolis/St. Paul region. The foundation operates two primary grant programs: one for the Minneapolis & St. Paul Metropolitan Area and another for national programs outside this region. As a founding member of the Minnesota Keystone Program, RBC pledges a percentage of its profits to charity annually.
What size grants does RBC Foundation - USA award?
In 2024, RBC Foundation - USA awarded 8 grants totaling $12.2M — an average of about $1.5M per grant, based on its IRS Form 990 filings.
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.
Explore Open Grants
Browse active grant opportunities in RBC Foundation - USA's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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