The Morning Foundation
The Morning Foundation is a private foundation, based in St. Paul, MN. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $8.5M in total assets. In 2025, it awarded 2 grants totaling $462K. Net investment income was $1.0M.
The Morning Foundation at a glance
In short: The Morning Foundation gave $462K across 2 grants in 2025 (avg $231K), mostly in Minnesota. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $461,670
- +18.4% vs 2024
- Grants made (2025)
- 2
- +0.0% vs 2024
- Average grant
- $230,835
- +18.4% vs 2024
- Median grant
- $230,835
- Total assets
- $8,534,033
- +12.0% vs 2024
- Primary geography
- Minnesota (100% 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 Morning Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was Saint Paul & Minnesota Foundation ($379K). Together the top 2 received $462K.
Grant Size Distribution
10 grants across all recorded years
The most common grant size was in the $100–250K range: 5 grants of 10 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
How The Morning Foundation gives
- Giving held roughly steady from 2022 to 2025 (+11%). Method
- In 2025 it paid out 88% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. 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 $333K (2020) to $462K (2025). In 2025 it made 2 grants totaling $462K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Saint Paul & Minnesota Foundation St. Paul, MN | General | $379,035 |
| Wallin Education Partners Minneapolis, MN | General | $82,635 |
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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 | $8,534,033 | $1,316,671 | $479,157 | $461,670 | 2 | $464,091 | $1,012,878 | $528,705 |
| 2024 | $7,622,332 | $1,006,056 | $406,247 | $390,084 | 2 | $392,494 | $599,844 | $462,817 |
| 2023 | $7,208,805 | $684,814 | $414,813 | $405,822 | 2 | $408,083 | $339,539 | $396,416 |
| 2022 | $7,002,149 | $448,752 | $438,302 | $414,414 | 2 | $416,486 | $260,401 | $403,360 |
| 2021 | $6,970,467 | $794,287 | $359,934 | $351,018 | 2 | $353,513 | $575,350 | $423,086 |
| 2020 | $6,433,779 | $279,866 | $341,998 | $333,162 | 2 | — | $171,315 | $350,380 |
Under IRS private-foundation payout rules, The Morning Foundation reported a distributable amount of $529K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Morning Foundation's 2025 filing lists 3 officers; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Kim D. L. Holman
Trustee
On filings since 2020
1 hr/week
No compensation reported
Thomas H. Holman Jr.
Trustee
On filings since 2020
3 hrs/week
No compensation reported
Linnea Fahnestock
Trustee
On filings since 2021
1 hr/week
No compensation reported
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.
Frequently asked questions about The Morning Foundation
How much does The Morning Foundation give each year?
The Morning Foundation gave $462K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $390K across 2 grants.
How large is The Morning Foundation?
The Morning Foundation reported $8.5M in total assets on its 2025 IRS Form 990-PF. It paid out $464K in qualifying distributions that year, against a required minimum of $529K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does The Morning Foundation operate?
The Morning Foundation has awarded grants in Minnesota.
What is The Morning Foundation's EIN?
The Morning Foundation's EIN (Employer Identification Number) is 74-2803921. 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
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS July 20, 2026)
- IRS filings on file for fiscal years 2020–2024
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