The Bright Foundation
The Bright Foundation is a private foundation, based in Minneapolis, MN. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $11.0M in total assets. In 2025, it awarded 5 grants totaling $584K. Net investment income was $2.7M.
The Bright Foundation at a glance
In short: The Bright Foundation gave $584K across 5 grants in 2025 (avg $117K), mostly in Minnesota. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $583,614
- +164.6% vs 2024
- Grants made (2025)
- 5
- +66.7% vs 2024
- Average grant
- $116,723
- +58.7% vs 2024
- Median grant
- $21,284
- Total assets
- $11,012,575
- -2.5% vs 2024
- Primary geography
- Minnesota (92% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Bright Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was University of St Thomas ($500K). Together the top 2 received $539K.
Organizations only. It also paid 3 individual scholarships ($44,614), which are not listed by name.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 9 grants of 15 (60%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
Cities
How The Bright Foundation gives
- Giving grew 74% from 2022 to 2025. Method
- In 2025 it paid out 157% of 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 2025, annual grant giving ranged from $10K (2020) to $584K (2025). In 2025 it made 5 grants totaling $584K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of St Thomas St. Paul, MN | Engineering Scholarship | $500,000 |
| The McDonough Institute Charlottesville, VA | General Support | $39,000 |
| 3 individual scholarships Recipients not named | — | $44,614 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $11,012,575 | $2,952,199 | $786,172 | $583,614 | 5 | $699,604 | $2,665,841 | $446,564 |
| 2024 | $11,289,748 | $325,860 | $369,011 | $220,590 | 3 | $283,705 | $284,861 | $344,196 |
| 2023 | $6,884,862 | $3,337,398 | $460,810 | $377,000 | 1 | $426,682 | $3,305,666 | $268,639 |
| 2022 | $3,794,759 | $355,138 | $448,257 | $335,000 | 4 | $426,227 | $262,515 | $423,472 |
| 2021 | $11,475,193 | $67,578 | $156,140 | $132,000 | 2 | $151,888 | $63,326 | $431,180 |
| 2020 | $7,929,427 | $1,539 | $94,682 | $10,000 | 1 | — | — | $183,589 |
Under IRS private-foundation payout rules, The Bright Foundation reported a distributable amount of $447K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Bright Foundation is led by Alex Mimis, Executive Director on the 2025 filing; 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Alex Mimis
Executive Director
New on the 2025 filing
10 hrs/week
$50K (2025)
Jason Bright
President & Treasurer
On filings since 2020
1 hr/week
No compensation reported
Alex Matusevich
Vice President & Secretary
On filings since 2020
1 hr/week
No compensation reported
Former officers (1)
- Former: Matthew Dornquast (2020–2022) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $50K, to Alex Mimis (Executive Director).
Frequently asked questions about The Bright Foundation
How much does The Bright Foundation give each year?
The Bright Foundation gave $584K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $221K across 3 grants.
What is The Bright Foundation's typical grant size?
The Bright Foundation's median grant in 2025 was $21,284, and its average grant was $116,723, across 5 grants on its 2025 IRS Form 990-PF.
Where does The Bright Foundation give grants?
The Bright Foundation gives mostly in Minnesota: 92% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Virginia (7%).
Does The Bright Foundation give general operating support?
Yes: 20% of The Bright Foundation's 2025 grants with a stated purpose (1 of 5) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Scholarship" (3 grants).
How large is The Bright Foundation?
The Bright Foundation reported $11.0M in total assets on its 2025 IRS Form 990-PF. It paid out $700K in qualifying distributions that year, against a required minimum of $447K (roughly 5% of its investment assets).
What is The Bright Foundation's EIN?
The Bright Foundation's EIN (Employer Identification Number) is 47-2581945. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS September 30, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS September 26, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 14, 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 May 15, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Bright Foundation's focus areas in our free grants database
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