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The Hubbard Broadcasting Foundation at a glance

· Private foundation

The Hubbard Broadcasting Foundation

Its FY2025 filing reports that it accepted unsolicited grant applications.

$2.2M
Granted FY2025still arriving
148
Grants FY2025still arriving
11
States reached
$50k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
05Through PlinthRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2020 to 2025.

Health$2.4MEducation$1.6MArts & Culture$1.1MYouth Development$1.1MHuman Services$992kCommunity Improvement$646kFood & Nutrition$353kHousing & Shelter$334kOther$0
02FY2025 · 148 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

  • Under $10k48 grants · $213k
  • $10k–50k95 grants · $1.8M
  • $50k–250k5 grants · $250k
$10,000
Median grant
11
States reached
$48M
Total assets
Largest grants
RecipientAmount
CHILDREN'S HOSPITAL ASSOCIATION$50,000
COMMUNITIES IN SCHOOLS OF THE TWIN CITIES$50,000
THE REDEMPTION PROJECT TOWN SQUARE TOWER$50,000
MINNEAPOLIS HEART INSTITUTE FOUNDATION$50,000
REGIONS HOSPITAL FOUNDATION$50,000
ARTS PARTNERSHIP$40,000
LYNGBLOMSTEN FOUNDATION$35,000
NORTHSIDE ECONOMIC OPPORTUNITY NETWORK$33,333
CRESCENT COVE$31,250
FRIENDS OF THE ST PAUL PUBLIC LIBRARY$30,000
YOUTH SERVICES BUREAU INC$30,000
CHILDREN'S HEARTLINK$30,000
YOUTHLINK$28,000
HOPE ACADEMY$27,000
BOLDER OPTIONS$25,000
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY20–25, $1.6M) land where the poverty rate runs at 11%, against an area that typically sits at 10%. 84% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 10%ALIA: $25k → 14%WESST: $13k → 14%AMPERSAND FAMILIES: $13k → 14%YOUTH SERVICES BUREAU INC: $30k → 6%YOUTH SERVICE BUREAU INC: $30k → 6%YOUTH SERVICES BUREAU INC: $30k → 6%YOUTH SERVICES BUREAU INC: $30k → 6%YOUTH SERVICES BUREAU INC: $30k → 6%YOUTH FRONTIERS INC: $35k → 11%YOUTH FRONTIERS INC: $25k → 11%YOUTH FRONTIERS INC: $25k → 11%YOUTH FRONTIERS INC: $25k → 11%YOUTH FRONTIERS INC: $20k → 11%TAKECHARGE MINNESOTA: $25k → 11%FRASER: $13k → 11%AMPERSAND FAMILIES: $13k → 14%THE REDEMPTION PROJECT: $50k → 11%THE REDEMPTION PROJECT: $50k → 11%THE REDEMPTION PROJECT: $25k → 11%YOUTHLINK: $28k → 11%YOUTHLINK: $25k → 11%YOUTHLINK: $25k → 11%UNION GOSPEL MISSION TWIN CITIES: $25k → 14%UNION GOSPEL MISSION TWIN CITIES: $20k → 14%UNION GOSPEL MISSION TWIN CITIES: $15k → 14%YMCA OF GREATER TWIN CITIES: $25k → 11%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $30k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $25k → 14%NEIGHBORHOOD DEVELOPMENT CENTER: $25k → 14%ALIA: $20k → 14%ALIA: $20k → 14%ALIA: $20k → 14%AMHERST H WILDER FOUNDATION: $13k → 14%AMHERST H WILDER FOUNDATION: $13k → 14%CRESCENT COVE: $75k → 11%CRESCENT COVE: $50k → 11%CRESCENT COVE: $50k → 11%CRESCENT COVE: $31k → 11%CRESCENT COVE: $25k → 11%CRESCENT COVE: $25k → 11%CRESCENT COVE: $25k → 11%CRESCENT COVE: $25k → 11%CRESCENT COVE: $25k → 11%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

MN
IL
WI
NY
MA
CT
CA
CO
VA
MD
NM
DC
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

89%of every dollar goes to organizations it has funded before.
$8.3M · 151 repeat orgs$979k to everyone else

Grantees it renews have grown median revenue +22% since the first grant, against 0% for those funded once.

151 repeat relationships: 103 still active in FY2025, 48 since wound down; 20 grantees were first funded in FY2025 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

151
55

Total granted

$8.3M
$719k

Median revenue growth · since first grant

+22%
0%

Still filing today

83%
75%

New vs renewed · share of each year

In FY2025, 88% of grant dollars renewed an existing relationship; $260k went to new ones.

50%100%’20’21’22’23’24’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’20’21’22’23’24’25
Arts & CultureHuman ServicesHealthEducationYouth DevelopmentPhilanthropyOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • CI
    COMMUNITIES IN SCHOOLS OF THE TWIN CITIES
    6× · 2020–2025 · $450k · revenue +120%
  • UO
    UNIVERSITY OF MINNESOTA FOUNDATION
    4× · 2020–2023 · $360k · revenue +137%
  • CC
    CRESCENT COVE
    5× · 2020–2025 · $331k · revenue +98%

Funded once

  • TN
    THE NAVAL INSTITUTE FOUNDATION INCgraduated
    one grant, 2020 · $100k · revenue +139%
  • TR
    The Ranch - Teammates for Life Inc
    one grant, 2023 · $88k · revenue -60%
  • SC
    ST CLOUD STATE UNIVERSITY FOUNDATION INC
    one grant, 2020 · $50k · revenue -14%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Minnesota Business Partnership

The minnesota business partnership's mission is to maintain a high quality of life for all minnesotans by ensuring that the state's economy remains strong, globally competitive and its prospects for growth bright by working with elected…

—
2
Minnesota Medical Association

To be the leading voice of medicine to make minnesota the healthiest state and the best place to practice.

—
3
Minnesota Chamber of Commerce and Industry

The minnesota chamber of commerce proactively leads the business community statewide to: advance pro-business, responsible minnesota public policy that creates jobs and grows the econony; provde member services to address evolving business…

—
4
Minnesota Council on Foundations

MCF is a vibrant philanthropic community connecting, strengthening and mobilizing the power of philanthropy to advance prosperity and equity.

—
5
St Paul Transportation Management Organization

Move minnesota leads the movement for an equitable and sustainable transportation system that puts people first. we are passionate about connecting communities, ending the climate crisis, expanding access to jobs and resources, and…

Environment
6
Minneapolis Regional Chamber of Commerce

Creating powerful advocacy to enhance economic vitality in the minneapolis-st. paul region.

—
7
Mn Community Measurement

Mn community measurement empowers stakeholders with meaningful information to drive improvement.

Health
8
United Way of Ne Minnesota

United way of northeastern minnesota invests in nonprofits, programs, and collaborations that equip and empower, creating opportunities for people to thrive in our communities.

—
9
Women's Foundation of Minnesota

Women's Foundation of Minnesota is a statewide community foundation investing in ending systemic inequities and driving innovation for gender and racial justice. WFM applies an Intersectional Equity Framework inclusive of gender, race,…

Philanthropy
10
The Minneapolis Foundation

The foundation cultivates generosity by taking action on the greatest civic, social, and economic needs partnering with nonprofits, facilitating grantmaking, driving research and advocacy, and providing services to donors seeking to make a…

Philanthropy
11
Minneapolis Downtown Council

To create an extraordinary downtown minneapolis, applying the core values of leadership, collaboration, advocacy and innovation.

—
12
Minneapolis Saint Paul Regional Economic Development Partnership

The mission of the greater msp partnership is to accelerate regional competitiveness and inclusive economic growth through job creation, capital investment and execution of strategic initiatives. the partnership works to strengthen our…

Community Improvement
How this is measured
The grantee most central to the portfolio’s shape is Children's Health Care Foundation; the most unlike its peers is American Diabetes Association. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

188 grantees tracked through their own filings, 2017–2026.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2026, not grant rows in a single year, so this will not match the grant count on the cover. 188 of the 230 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

0
Load-bearing (≥25% of a budget)
35
Early backer (in before they grew)
186/188
Grantees still filing
115/188
Grew since first funded

Where the money sits, by cause and then by grantee

Guild: $250,000 · OtherGuildURBAN VENTURES LEADERSHIP FOUNDATION: $150,000 · OtherCHILDREN'S HEARTLINK: $135,000 · OtherFEED MY STARVING CHILDREN INC: $155,000 · OtherCOAST GUARD FOUNDATION INC: $165,000 · OtherSTUDIO-180: $150,000 · Other+90 more: $2,541,333 · Other+90 moreREGIONS HOSPITAL FOUNDATION: $320,000 · HealthREGIONS HOSPITAL FO…Community of Recovering People: $200,000 · HealthCommunity of Recove…CHILDREN'S HOSPITAL ASSOCIATION INC: $200,000 · HealthCHILDREN'S HOSPITAL…MINNEAPOLIS HEART INSTITUTE FOUNDATION: $150,000 · HealthMINNEAPOLIS HEART I…NATIONAL FOUNDATION FOR ECTODERMAL DYSPLASIAS: $100,000 · HealthNATIONAL FOUNDATION…AMERICAN CANCER SOCIETY INC: $100,000 · HealthAMERICAN CANCER SOC…RIVER VALLEY RIDERS: $75,000 · HealthHAZELDEN BETTY FORD FOUNDATION: $75,000 · HealthCITIZENS' COUNCIL FOR HEALTH FREEDOM: $72,500 · HealthHAMM MEMORIAL PSYCHIATRIC CLINIC: $60,000 · Health+13 more: $335,695 · Health+13 moreCRESCENT COVE: $331,250 · Human ServicesCRESCENT COVENEIGHBORHOOD DEVELOPMENT CENTER INC: $230,000 · Human ServicesNEIGHBORHOOD DEVELO…YOUTH SERVICE BUREAU INC: $150,000 · Human ServicesYOUTH SERVICE BUREA…YOUTH FRONTIERS INC: $140,000 · Human ServicesYOUTH FRONTIERS INCTHE REDEMPTION PROJECT: $130,000 · Human ServicesTHE REDEMPTION PROJ…ALIA: $85,000 · Human ServicesYOUTHLINK: $78,000 · Human ServicesYOUNG MENS CHRISTIAN ASSOCIATION OF THE NORTH: $75,000 · Human ServicesUNION GOSPEL MISSION ASSOCIATION OF ST PAUL INC: $60,000 · Human Services+17 more: $373,000 · Human Services+17 moreCOMMUNITIES IN SCHOOLS OF THE TWIN CITIES: $450,000 · EducationCOMMUNITIES IN S…UNIVERSITY OF MINNESOTA FOUNDATION: $360,000 · EducationUNIVERSITY OF MI…Bolder Options: $125,000 · EducationBolder OptionsHOPE ACADEMY INC: $95,100 · EducationHOPE ACADEMY INCUNIVERSITY OF WISCONSIN - RIVER FALLS FOUNDATION INC: $75,000 · EducationUNIVERSITY OF WI…MINNESOTA PRIVATE COLLEGE FUND: $68,000 · EducationST CLOUD STATE UNIVERSITY FOUNDATION INC: $50,000 · EducationMINNEAPOLIS COLLEGE OF ART AND DESIGN: $50,000 · EducationEd Allies: $50,000 · Education+3 more: $55,500 · EducationMINNESOTA ORCHESTRAL ASSOCIATION: $145,000 · Arts & CultureMINNESOTA…The Arts Partnership: $120,000 · Arts & CultureThe Arts …RAMSEY COUNTY HISTORICAL SOCIETY INC: $90,000 · Arts & CultureRAMSEY CO…Victoria Theater Arts Center dba 825 Arts: $50,000 · Arts & CultureVictoria …MINNESOTA HISTORICAL SOCIETY: $40,000 · Arts & CultureTHE CHILDREN'S MUSEUM OF ROCHESTER INC: $30,000 · Arts & CultureSCIENCE MUSEUM OF MINNESOTA: $29,000 · Arts & Culture+22 more: $270,500 · Arts & Culture+22 moreTHE SANNEH FOUNDATION: $150,000 · Youth DevelopmentThe Cookie Cart: $70,000 · Youth DevelopmentBIG BROTHERS BIG SISTERS OF THE GREATER TWIN CITIES: $55,001 · Youth DevelopmentURBAN BOATBUILDERS INC: $25,500 · Youth DevelopmentWORLD PRESS INSTITUTE: $21,000 · Youth Development+2 more: $16,500 · Youth DevelopmentThe Ranch - Teammates for Life Inc: $87,500 · PhilanthropyLYNGBLOMSTEN FOUNDATION: $78,000 · PhilanthropyGREATER TWIN CITIES UNITED WAY: $45,000 · PhilanthropySAINT PAUL & MINNESOTA FOUNDATION: $25,000 · PhilanthropyEQUASPACE: $20,000 · PhilanthropyTHE NEW IMPACT FUND: $15,000 · PhilanthropyMICROGRANTS: $12,500 · Philanthropy
Other$3,546,333Health$1,688,195Human Services$1,652,250Education$1,378,600Arts & Culture$774,500Youth Development$338,001Philanthropy$283,000

Showing the 200 largest grantees by grant value.

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$100k$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetCOMMUNITIES IN SCHOOLS OF THE TWIN CITIES: $450,000 over 6y, 22% of budgetUNIVERSITY OF MINNESOTA FOUNDATION: $360,000 over 4y, 0.1% of budgetCRESCENT COVE: $331,250 over 5y, 3.3% of budgetREGIONS HOSPITAL FOUNDATION: $320,000 over 6y, 1.0% of budgetGuild: $250,000 over 5y, 0.3% of budgetNEIGHBORHOOD DEVELOPMENT CENTER INC: $230,000 over 6y, 0.4% of budgetCommunity of Recovering People: $200,000 over 5y, 0.7% of budgetCHILDREN'S HOSPITAL ASSOCIATION INC: $200,000 over 5y, 5.9% of budgetCOAST GUARD FOUNDATION INC: $165,000 over 6y, 0.4% of budgetFEED MY STARVING CHILDREN INC: $155,000 over 4y, 0.1% of budgetTHE SANNEH FOUNDATION: $150,000 over 5y, 0.7% of budgetURBAN VENTURES LEADERSHIP FOUNDATION: $150,000 over 5y, 0.7% of budgetMINNEAPOLIS HEART INSTITUTE FOUNDATION: $150,000 over 4y, 0.2% of budgetSTUDIO-180: $150,000 over 4y, 4.9% of budgetYOUTH SERVICE BUREAU INC: $150,000 over 5y, 2.3% of budgetMINNESOTA ORCHESTRAL ASSOCIATION: $145,000 over 6y, 0.1% of budgetYOUTH FRONTIERS INC: $140,000 over 5y, 1.0% of budgetCHILDREN'S HEARTLINK: $135,000 over 5y, 1.3% of budgetTHE REDEMPTION PROJECT: $130,000 over 4y, 12% of budgetBolder Options: $125,000 over 4y, 1.6% of budgetThe Arts Partnership: $120,000 over 3y, 0.6% of budgetNATIONAL FOUNDATION FOR ECTODERMAL DYSPLASIAS: $100,000 over 4y, 2.1% of budgetTHE NAVAL INSTITUTE FOUNDATION INC: $100,000 over 1y, 1.7% of budgetAMERICAN CANCER SOCIETY INC: $100,000 over 4y, 0.0% of budgetHOPE ACADEMY INC: $95,100 over 4y, 0.2% of budgetWashington County Historical Society: $92,000 over 4y, 10.0% of budgetHUDSON HOSPITAL FOUNDATION INC: $90,000 over 4y, 5.2% of budgetRAMSEY COUNTY HISTORICAL SOCIETY INC: $90,000 over 4y, 3.1% of budgetThe Ranch - Teammates for Life Inc: $87,500 over 1y, 18% of budgetALIA: $85,000 over 4y, 0.8% of budgetLYNGBLOMSTEN FOUNDATION: $78,000 over 4y, 1.0% of budgetYOUTHLINK: $78,000 over 3y, 0.5% of budgetUNIVERSITY OF WISCONSIN - RIVER FALLS FOUNDATION INC: $75,000 over 3y, 0.5% of budgetYOUNG MENS CHRISTIAN ASSOCIATION OF THE NORTH: $75,000 over 3y, 0.0% of budgetRIVER VALLEY RIDERS: $75,000 over 3y, 6.6% of budgetHAZELDEN BETTY FORD FOUNDATION: $75,000 over 4y, 0.0% of budgetCITIZENS' COUNCIL FOR HEALTH FREEDOM: $72,500 over 4y, 3.7% of budgetThe Cookie Cart: $70,000 over 4y, 2.5% of budgetMINNESOTA PRIVATE COLLEGE FUND: $68,000 over 4y, 1.0% of budgetWALKER WEST MUSIC ACADEMY: $60,000 over 4y, 0.6% of budgetHAMM MEMORIAL PSYCHIATRIC CLINIC: $60,000 over 5y, 0.6% of budgetCOMMONBOND COMMUNITIES: $60,000 over 3y, 0.1% of budgetUNION GOSPEL MISSION ASSOCIATION OF ST PAUL INC: $60,000 over 3y, 0.1% of budgetBELWIN CONSERVANCY: $60,000 over 3y, 0.6% of budgetTRUE FRIENDS: $60,000 over 2y, 0.3% of budgetMATTER: $57,500 over 3y, 0.1% of budgetBIG BROTHERS BIG SISTERS OF THE GREATER TWIN CITIES: $55,001 over 3y, 0.4% of budgetALLINA HEALTH SYSTEM: $52,870 over 2y, 0.0% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Saint Paul & Minnesot…Hardenbergh FoundationFred C and Katherine …Otto Bremer TrustFr Bigelow FoundationXcel Energy FoundationThe Minneapolis Found…The Richard M Schulze…Target FoundationHugh J Andersen Found…Mardag FoundationAndersen Corporate Fo…
Saint Paul & Minnesota FoundationMN107× affinity90 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Saint Paul & Minnesota Foundation · Hardenbergh Foundation · Fred C and Katherine B Andersen Foundation · Otto Bremer Trust · Fr Bigelow Foundation · Xcel Energy Foundation · The Minneapolis Foundation · The Richard M Schulze Family Foundation · Target Foundation · Hugh J Andersen Foundation · Mardag Foundation · Andersen Corporate Foundation

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization The Hubbard Broadcasting Foundation funds: left to right is the share of its income from government, bottom to top the share from The Hubbard Broadcasting Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 20%2%6%14%25%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →
    no gov moneyreceives it· size = income
    2get no government money at all
    56report government grants on their 990 we could not trace to a source (not plotted)
    0rely on government for over half their income
    typical government reliance, FY20–25
    How this is measured
    Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.
    05Through Plinth

    Warm introductions · Powered by PlinthPlus

    How do I get to The Hubbard Broadcasting Foundation?

    Find your warmest path to The Hubbard Broadcasting Foundation through trustees and officers whose names appear on both boards. Search for your organization and Plinth traces the shortest route it can evidence.

    Each link is a name appearing on two organizations’ public IRS 990 filings, matched on that name and, where the filings support it, on location. A same-state match has geographic support, which is a second matching feature rather than confirmation that the two are one person; a cross-state one is the likeliest to be two people who share a name. Every hop shows its tier, low-confidence and distant paths are held back rather than guessed, and it is worth confirming the person before you use the introduction.

    On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 230 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

    How this is measured
    Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

    Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

    Source object · view filing

    Play a game based on Hubbard Broadcasting’s filings →

    More from the funding graph

    The unnamed billions
    grants reported with no recipient in the public record
    The regranting layer
    51% of grant dollars land in the regranting layer
    The DAF merry-go-round
    $9.7B circulates between donor-advised funds
    The endowment market
    who holds foundation money, and what just moved
    The camps
    funders cluster by geography, not ideology
    By state
    where grant money is based, and what stays home