3m Open Fund

Analysis

3m Open Fund is a registered charity in United States, based in Blaine, MN. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, 3m Open Fund reported income of $20.1m and spending of $18.5m, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $10.5m to $20.1m (+92%), an average of +18% a year. The sharpest change came in the year to September 2021, when income rose by 44%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, 3m Open Fund sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include United Way of South Central Mi ($20.0m), Madison Community Foundation ($20.1m) and Community Foundation of Henderson County Inc ($20.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 32% and program service revenue 65% of the total. At year end it held assets of $3.7m against liabilities of $8.1m, net assets of -$4.4m. It reported 12 employees.