A foundation founded three and a half years ago at the request of a longtime “silent philanthropist” has quickly and quietly emerged as the largest charitable entity in Minnesota and the 22nd largest in the nation, the online news site MinnPost reports.
The Margaret A. Cargill Foundation was established after the 2006 death of the eponymous donor, an agribusiness heiress who gave away $200-million but insisted the gifts remain anonymous until her death. The group’s most recent annual report listed assets of $2.12-billion as of the end of 2008, pushing it past the McKnight Foundation as Minnesota’s biggest philanthropy.
After issuing a handful of small grants in 2007 and 2008, the Margaret A. Cargill Foundation gave $10-million to 700 organizations nationwide and plans to ramp up giving this year as the settlement of Ms. Cargill’s estate is completed.
