TOTAL REVENUE - FISCAL 2025
$19,742,547
Up 1.8% from $19,392,834 in fiscal 2024.
3M Open Fund
Blaine, Minnesota - EIN 83-0995816 - Latest filing: fiscal 2025 (Oct 1, 2024 - Sep 30, 2025)
HOW TO READ THIS PAGE
How to read this page: every figure below is from the fiscal-2025 Form 990, filed Jun 1, 2026. People named below are shown as reported on the fiscal-2025 Form 990, filed Jun 1, 2026 - the filing is a snapshot of that fiscal year, not a list of current officeholders.
THE FILING IN ONE PARAGRAPH
3M Open Fund reported $19,742,547 in revenue and $20,294,865 in expenses in fiscal 2025, a deficit of $552,318 for the year. Program services took $16,637,800 of expenses, or 82.0%. The organization closed the year with -$5,296,158 in net assets - about -3.1 months of expenses at the fiscal-2025 spending level.
At a Glance - Fiscal 2025
All values are fiscal 2025 unless a tile says otherwise.
TOTAL EXPENSES - FISCAL 2025
$20,294,865
Revenue minus expenses: -$552,318 in fiscal 2025.
PROGRAM EXPENSE SHARE - FISCAL 2025
82.0%
$16,637,800 of $20,294,865 went to program services.
NET ASSETS - END OF FISCAL 2025
-$5,296,158
Total assets $4,885,899 minus total liabilities $10,182,057.
PEOPLE REPORTED - FISCAL 2025
11 Employees
Plus 1,636 volunteers reported on the fiscal-2025 Form 990.
Money In, Money Out - Fiscal 2025
Revenue and expenses as reported on the fiscal-2025 Form 990, filed Jun 1, 2026. Donated goods are separated from cash so food and supply donations do not read as cash income.
Where the Money Went - Fiscal 2025
Management and general is the figure reported on the filing (Part IX total); where a filing does not carry it, it is computed as the residual of total expenses minus program and fundraising expenses. Cost to raise a dollar in fiscal 2025: $0.33 - $1,834,118 in fundraising expenses divided by $5,509,147 in total contributions.
Where the Money Came From - Fiscal 2025
| Source | Fiscal 2025 |
|---|---|
| Total Contributions | $5,509,147 |
| All Other Contributions | $5,509,147 |
| Program Service Revenue | $13,769,300 |
| Investment Income | $0 |
| Other Revenue | $464,100 |
| Total Revenue (All Sources) | $19,742,547 |
Government Grants - Not Broken Out
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
Reserves and Balance Sheet - Fiscal 2025
Reserves and Runway
-3.1 Months
of reserves - -$5,296,158 in net assets at the end of fiscal 2025, divided by average monthly expenses of about $1,691,238 in fiscal 2025.
Net assets can include donor-restricted funds, buildings and other assets that cannot be spent like cash. Treat months of reserves as a scale measure, not as cash in the bank.
Balance Sheet - End of Fiscal 2025
| Total Assets | $4,885,899 |
| Total Liabilities | $10,182,057 |
| Liabilities as Share of Assets | 208.4% |
| Net Assets | -$5,296,158 |
Leadership Pay - Fiscal 2025
Pay is the summed total across all compensation columns on the Form 990 - pay from the organization, pay from related organizations, and other compensation. People are shown as reported on the fiscal-2025 Form 990, filed Jun 1, 2026.
No compensation was reported for any officer, director, trustee or key employee on the fiscal-2025 Form 990. Everyone named on the filing served without pay from the organization, as reported.
Board and Governance - Fiscal 2025
Board and policy answers as reported on the fiscal-2025 Form 990, filed Jun 1, 2026.
Board Roster - as Reported on the Fiscal-2025 Form 990
7 voting members, 7 independent - independence count as reported on the fiscal-2025 Form 990.
| Name, as Reported | Role, as Reported |
|---|---|
| Teri Reinseth | Treasurer |
| John Banovetz | Director |
| Jeff Lavers | President |
| Kady Stoll | Secretary |
| Carrie Higgs | Director |
| Randall McDaniel | Director |
| Aria Sameni | Director |
Governance Policy Flags - Fiscal 2025
Conflict of Interest PolicyYes - Reported
Whistleblower PolicyNo
Document Retention PolicyNo
Audited Financial StatementsYes - Reported
Audit CommitteeYes - Reported
Board Size and Independence7 voting / 7 independent
Flags report what the organization answered on the Form 990. A Yes means the policy was reported on the filing; it is not an outside review of how the policy works in practice.
Grants - Fiscal 2025
Grants Made - Fiscal 2025
This organization reported $700,373 in grants paid in fiscal 2025.
| Recipient, as Reported | Amount |
|---|---|
| Allina Health Systems DIRECT GRANT | $28,000 |
| Blaine Police Explorers DIRECT GRANT | $20,000 |
| Cub Foundation DIRECT GRANT | $15,000 |
| Folds Of Honor DIRECT GRANT | $32,500 |
| Greater Twin Cities United Way DIRECT GRANT | $20,000 |
| M Health Fairview Masonic Children'S Hospital DIRECT GRANT | $250,000 |
| National Sports Center DIRECT GRANT | $10,500 |
| Pga Reach Minnesota DIRECT GRANT | $30,000 |
| Pga Tour First Tee Foundation Inc DIRECT GRANT | $150,000 |
| Spring Lake Park Fire Dept Inc DIRECT GRANT | $30,600 |
| Twin Cities Film Fest DIRECT GRANT | $8,000 |
| The Larry Fitzgerald Foundation DIRECT GRANT | $30,000 |
| Foster One DIRECT GRANT | $12,500 |
| Be The Why DIRECT GRANT | $10,000 |
Trend - Revenue
Years are shown only where a filing is held. Missing years are absent, never filled in.
| Fiscal Year | Revenue | Change |
|---|---|---|
| Fiscal 2024 (Prior-Year Column on the Fiscal-2025 Filing) | $19,392,834 | - |
| Fiscal 2025 | $19,742,547 | +1.8% |
This table grows to a 10-year view (revenue, expenses, net assets and top pay) as earlier filings for this organization are added to the record. Missing years are absent, never filled in.
Filings on Record
| Tax Period | Form | Status | Source |
|---|---|---|---|
| Oct 1, 2024 - Sep 30, 2025 | Form 990 | In Force - Filed Jun 1, 2026 | Original Filing at the IRS |
If an amended return is filed, the newest amended return supersedes the earlier one and the table marks which filing is in force.