Sit Investment Associates Foundation
SIT Investment Associates Foundation is a private foundation based in Minneapolis, Minnesota. It makes grants to charitable organizations, with most of its 2024 grant dollars going to recipients in Minnesota.
Key facts about Sit Investment Associates Foundation
In short: Sit Investment Associates Foundation gave $3.2M across 118 grants in 2024 (avg $27K), mostly in Minnesota. 15% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 41-1468021
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $3,200,325
- Grants made (2024)
- 118
- Average grant
- $27,121
- Median grant
- $5,000
- New grantees (estimate)
- 15% first-time grantees (17 of 117, 2024)
- Total assets
- $42,239,466
- Primary geography
- Minnesota (96% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$42.2M
+2.7% YoY
Annual Giving
$3.2M
+18.5% YoY
Grant Count
118
+0.9% YoY
Avg Grant Size
$27K
+17.5% YoY
Under IRS private-foundation payout rules, Sit Investment Associates Foundation reported a distributable amount of $3.2M for 2024 — the minimum it must pay out in qualifying distributions.
Is Sit Investment Associates Foundation open to new grantees?
15%
first-time grantees, 2024
In 2024, 17 of 117 grantees (15%) were first-time recipients. First grants averaged $51K; repeat grants $23K. How we count
Medians: $3K first-time, $7K repeat.
- 85% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+14%). Method
- In 2024 it paid out 101% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF 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.
Mission & Focus Areas
The available information does not state the foundation’s mission. Its 2024 grantees include organizations working in community wellness and education, hunger relief, housing stability, affordable housing, pancreatic-disease research, and Minnesota history and culture. For example, V3 Sports says its mission is to elevate North Minneapolis through wellness, fitness, and education; Second Harvest Heartland says its mission is to end hunger together; and CommonBond Communities says its mission is to build stable homes, strong futures, and vibrant communities. These are the grantees’ stated missions, not the foundation’s.
Grantmaking
In 2024, the foundation made 118 grants totaling $3,200,325. Grants ranged from $325 to $785,000, with a median grant of $5,000. Among its largest grants were $785,000 to the University of Minnesota Foundation for the Connecting Carlson Building Project, $250,000 to V3 Sports, $200,000 to Federated Insurance Foundation, and $150,000 each to The Food Group and Second Harvest Heartland. The filing lists these grants’ purposes as operating.
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Geographic Focus
Where this funder awards grants
In 2024, 96% of grant dollars went to Minnesota recipients. Kansas and California each received 2% and 1%, respectively; Massachusetts received 1%, while New Jersey received 0%.
Grant Distribution by State
Share of 2024 grant dollars across all 118 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $2.3M (2020) to $3.2M (2024). In 2024 it made 118 grants totaling $3.2M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was University of Minnesota Foundation - Connecting Carlson Bldg Project ($785K). Together the top 10 received $2.0M.
Organizations only. It also paid 2 grants to individuals ($6,500), which are not listed by name.
Grant Size Distribution
605 grants across all recorded years
The most common grant size was under $50K: 541 grants of 605 (89%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Minnesota Foundation - Connecting Carlson Bldg Project Minneapolis, MN | Operating | $785,000 |
| V3 Sports Minneapolis, MN | Operating | $250,000 |
| Federated Insurance Foundation Owatonna, MN | Operating | $200,000 |
| The Food Group New Hope, MN | Operating | $150,000 |
| Second Harvest Heartland Brooklyn Park, MN | Operating | $150,000 |
| Sharing & Caring Hands Minneapolis, MN | Operating | $120,000 |
| Vocalessence - Bridge to the Future Campaign Pledge Minneapolis, MN | Operating | $90,000 |
| Loaves & Fishes Minneapolis, MN | Operating | $85,000 |
| Salvation Army - Northern Division Roseville, MN | Operating | $85,000 |
| People Serving People Inc Minneapolis, MN | Operating | $75,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grants | Grant count |
|---|---|---|
| 2024 | $3,200,325 | 118 |
| 2023 | $2,700,000 | 117 |
| 2022 | $2,705,000 | 119 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $42,239,466 | $41,112,394 | $41,628,821 |
| Revenue | $4,385,635 | $2,237,900 | $3,833,174 |
| Expenses | $3,261,872 | $2,754,327 | $2,751,614 |
| Qualifying Distributions | $3,207,800 | $2,655,728 | $2,712,083 |
| Net Investment Income | $2,836,516 | $2,045,817 | $1,321,964 |
| Distributable Amount | $3,166,562 | $2,688,138 | $2,656,022 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 13, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Paul E Rasmussen as secretary, Debra K Beaudet as assistant secretary, Roger J Sit and Carla J Rose as voting members, and Ronald D Sit as director.
Sit Investment Associates Foundation's 2024 filing lists 5 officers; none of the 5 officers listed in 2024 report compensation.
Officers on the 2024 filing
Ronald D. Sit
Director
On filings since 2020
1 hr/week
No compensation reported
Carla J. Rose
Voting Member
On filings since 2020
1 hr/week
No compensation reported
Debra K. Beaudet
Assistant Secretary
On filings since 2020
1 hr/week
No compensation reported
Paul E. Rasmussen
Secretary
On filings since 2020
1 hr/week
No compensation reported
Roger J. Sit
Voting Member
On filings since 2020
1 hr/week
No compensation reported
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.
Contact
Mailing address: 3300 Ids Center 80 South 8Th Stree, Minneapolis, MN 55402
Phone: (612) 332-3223
Frequently asked questions about Sit Investment Associates Foundation
How much does Sit Investment Associates Foundation give each year?
Sit Investment Associates Foundation gave $3.2M across 118 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $2.7M across 117 grants.
What is Sit Investment Associates Foundation's typical grant size?
Sit Investment Associates Foundation's median grant in 2024 was $5,000, and its average grant was $27,121, across 118 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Sit Investment Associates Foundation that year got $51K on average.
Where does Sit Investment Associates Foundation give grants?
Sit Investment Associates Foundation gives mostly in Minnesota: 96% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Minneapolis, MN (45 grants), St. Paul, MN (19 grants), Stillwater, MN (7 grants) and Golden Valley, MN (2 grants).
Does Sit Investment Associates Foundation give general operating support?
Yes: 100% of Sit Investment Associates Foundation's 2024 grants with a stated purpose (118 of 118) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Sit Investment Associates Foundation's largest grantees?
Sit Investment Associates Foundation's largest 2024 grantees include University of Minnesota Foundation - Connecting Carlson Bldg Project ($785,000), V3 Sports ($250,000) and Federated Insurance Foundation ($200,000), according to its 2024 IRS Form 990-PF. It also paid 2 grants to individuals ($6,500), which are not listed by name. Together they received 39% of its itemized 2024 grant dollars.
How large is Sit Investment Associates Foundation?
Sit Investment Associates Foundation reported $42.2M in total assets on its 2024 IRS Form 990-PF. It paid out $3.2M in qualifying distributions that year, against a required minimum of $3.2M (roughly 5% of its investment assets).
What does Sit Investment Associates Foundation fund?
The available information does not state the foundation’s mission. Its 2024 grantees include organizations working in community wellness and education, hunger relief, housing stability, affordable housing, pancreatic-disease research, and Minnesota history and culture. See mission & focus areas ↑
How do I apply for a grant from Sit Investment Associates Foundation?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Sit Investment Associates Foundation's EIN?
Sit Investment Associates Foundation's EIN (Employer Identification Number) is 41-1468021. IRS Form 990 filing data is available on this page for 2020–2024.
Does Sit Investment Associates Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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