McKnight Foundation

The McKnight Foundation is a Minnesota-based family foundation. Established in 1953, the McKnight Foundation maintains a $2.5 billion endowment which it distributes in grants. In 2022, the foundation issued $120 million, supporting Minnesota cultural institutions, climate change efforts, and social justice initiatives, among other goals.[3]

McKnight Foundation
Founded1953
FounderWilliam L. McKnight and Maude L. McKnight
Location
Area served
Worldwide
Key people
Tonya Allen, President;[1]
Endowment$2.5 billion USD[2]
Websitehttps://www.mcknight.org/

History

The McKnight Foundation was founded in 1953 by William L. McKnight, an early leader of the 3M Corporation, and Maude L. McKnight,[4] and was independently endowed by the McKnight's. Bolstered by their estates, the foundation's assets grew substantially in the 1980s.[5]

Impact Investing

The McKnight Foundation committed to achieving net zero greenhouse gas emissions across its endowment by 2050 at the latest.[6] In 2014, the McKnight Foundation committed to investing $200 million in strategies that align with McKnight’s mission. These investments generate financial return, meet their fiduciary duty, and drive program learning, while advancing McKnight's mission. They aim to generate a triple bottom line.[7]

References
  1. "Staff & Board". McKnight Foundation. Retrieved 2021-11-04.
  2. "McKnight Foundation Commits to Net Zero Across $3 Billion Endowment: Overview". Retrieved 2021-11-04.
  3. "Grants". McKnight Foundation. Retrieved 2023-05-04.
  4. Colleen Frankhart "DEEP Pockets," Planning, volume 75, issue 1, January 2009.
  6. "McKnight Foundation Commits to Net Zero Across $3 Billion Endowment". McKnight Foundation. 2021-10-18. Retrieved 2021-10-22.
  7. "Why We Invest". McKnight Foundation. Retrieved 2021-10-22.
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