The Lulu Foundation is a private foundation based in Minneapolis, Minnesota, established in 2018. It operates as a 501(c)(3) organization with no paid staff, relying entirely on volunteer leadership from the Erickson family.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$122K
-20.0% YoY
Annual Giving
$485K
+38.6% YoY
Grant Count
36
+9.1% YoY
Avg Grant Size
$13K
+27.0% YoY
Mission & Focus Areas
The foundation's mission centers on upholding the integrity of journalism, revitalizing neighborhoods in the Twin Cities, and providing education and training for journalists. Its primary focus areas include philanthropy, foundations, and human services.
Grantmaking
The foundation made 33 grants in 2023 totaling $350,000 in giving. Grant sizes typically range from $5,000 to $30,000, with a median grant of $5,000 and an average grant of approximately $10,600.
Grant Range
s typically range from $5,000 to $30,000, with a median grant of $5,000 and an average grant of approximately $10,600.
Average Grant
of approximately $10,600.
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Geographic Focus
Where this funder awards grants
The foundation provides funding across multiple U.S. locations, including cities such as Austin, Berkeley, Brooklyn, and Chicago, with a geographic reach spanning states including Alabama, California, Minnesota, New York, and Texas. It maintains a particular focus on the Twin Cities region of Minnesota.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
2023 Financial Summary:
- Total Assets: $151,933
- Total Revenue: $495,372
- Total Expenses: $350,167
- Total Giving: $350,000
2022 Financial Summary:
- Total Assets: $7,000
- Total Giving: $430,000
The foundation's giving rate exceeds 100% of its assets, indicating it distributes more annually than its asset base.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $121,539 | $151,933 | $6,728 |
| Revenue | $460,359 | $495,372 | $-86,230 |
| Expenses | $490,753 | $350,167 | $431,157 |
| Qualifying Distributions | $485,000 | $350,121 | $431,121 |
| Net Investment Income | $342,108 | $405,040 | $3,303 |
| Distributable Amount | $2,339 | — | $18,841 |
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
165 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Richard A. Erickson — President and Director
- Tyler C. Erickson — Vice President and Secretary
- Lucas C. Erickson — Vice President and Treasurer
All key personnel serve on a voluntary basis without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RICHARD A ERICKSON | PRESIDENT AND DIRECTOR | 1 | — |
| TYLER C ERICKSON | VICE PRESIDENT,SECRETARY A | 1 | — |
| LUCAS C ERICKSON | VICE PRESIDENT,TREASURER A | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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