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    2026 ANNUAL REPORT

    DOWNLOAD THE FULL REPORT (PDF)

    A Letter From Our CEO

    Every year, the Constellation Fund asks a hard question: For every dollar we invest, how much value is returned to our neighbors experiencing poverty across the Twin Cities? This year gave us our best answer yet. Our grantee portfolio reached a long-term return of $10 for every $1 invested, a figure earned through years of disciplined analysis and the remarkable organizations you’ve helped us back.

    That return is not an abstraction. It is a first job after a career-pathways program, a degree finished against long odds, a family kept in their home, a small business that finally opens its doors. These are the turning points that change the arc of a life, and this year there were more of them than ever. That progress rests on evidence, and we keep pushing its edge: This past year we also committed millions to longitudinal research on economic mobility, taking on unanswered questions about what truly moves families forward, and for how long.

    READ MORE
    Andrew Dayton,
    Founder and CEO

    Together, we made meaningful change for 1 in 3 people experiencing poverty in the Twin Cities.*

    We distributed more grant dollars in a single year than ever before, and our portfolio produced its highest benefits yet.

    PORTFOLIO PERFORMANCE: 2026 FISCAL YEAR

    $35.3M
    Poverty-Fighting Impact

    254,000
    People Impacted

    $10:1
    Benefit-Cost Ratio

    $3.4M
    Total Grant Investments

    $150,000
    Average Grant Size

    BRIGHT SPOTS OF IMPACT

    Each year, our work creates meaningful change for thousands of people in the Twin Cities. The poverty-fighting programs we fund reach people at all stages of life — each one adding up to measurable, lifelong income gains. Follow along to see four examples of what our impact looked like last year.

    FEATURED STORIES

    Investing in the Moments That Change a Life

    Across the Twin Cities, people are chasing the ordinary dreams of a middle-class life: a safe place to call home, a good school for their kids, a job that adds up to something. What stands between them and that life is rarely effort. It’s a system that makes the climb harder than it needs to be.

    READ MORE

    A Constellation of Neighbors Respond

    When Operation Metro Surge brought thousands of federal agents into the Twin Cities in December 2025, the impact was immediate. During this time, we saw a constellation of neighbors showing up. Together, we were part of a response that reverberated a strong message across the Twin Cities and beyond: “Neighbor is a verb here.”

    READ MORE

    Relieving Toothaches, Raising Graduation Rates

    Sometimes data leads to surprising places — like the connection between better dental care and the likelihood of graduating high school. It’s a chain of impact Constellation traces carefully, using peer-reviewed research.

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    Becoming Fluent in Opportunity

    The Constellation Fund’s research points to a consistent finding: a good job is one of the most powerful levers for lasting economic mobility. For many immigrants and refugees to Minnesota, securing a job requires navigating a new language, an unfamiliar system, new credentials, and sometimes, cultural differences.

    READ MORE

    Capacity is a Poverty-Fighting Investment

    A check alone can’t fix a capacity gap. Nonprofits are stretched thin on the very expertise – strategy, technology, leadership coaching – that would let them run more smoothly, serve more people, and scale what works. Beyond Dollars closes that gap.

    Through Beyond Dollars, talented professionals contribute the specialized expertise that many nonprofits need but cannot afford, turning capacity-building into another engine for lasting, measurable impact.

    IMPACT STORIES

    Learn how Beyond Dollars partners McKinsey & Company and Anthropic helped Constellation grantees map their path to growth and implement new technologies.

    READ MORE

    25 Pro Bono Projects

    $1M Estimated Total Grantee Value

    $40,906 Average Value Per Project

    Building the Evidence Base

    The fight against poverty is full of promising ideas. The harder part is knowing which ones can truly change lives, and keep changing them years later. Doing that well requires evidence. Not just a snapshot of whether a program works today, but a clear view of whether its effects endure. That’s the work CoLab takes on.

    As the Constellation Fund’s research investment arm, CoLab funds actionable, longitudinal research on programs and practices designed to reduce intergenerational poverty. CoLab builds the next generation of evidence that can sharpen grantmaking and guide broader public and philanthropic investment.

    CONVENING EXPERTS IN THE FIELD

    Last year, CoLab hosted the second annual Evidence-to-Action Forum and continued its leadership in the 2-Gen Home Visiting Task Force, which emerged from the 2024 Forum focused on early childhood solutions. This work ignites conversations across researchers, practitioners, policymakers, and community partners to help turn knowledge into action.

    LEARN MORE ABOUT COLAB'S PROJECTS

    $11M in research grants committed through CoLab

    12 New Evidence-Expanding Projects

    CHAMPIONS FOR EVIDENCE-BASED PHILANTHROPY

    The Wisdom to Make a Difference

    Twenty years ago, the Wisdom Family Foundation set out to give back to their community. Today, that instinct has grown into something more deliberate: an intentional, multi-generational approach to giving that asks “How much are we actually moving the dial?”

    READ THE INTERVIEW

    Voices of Support from Our Newest Board Members

    RON FELDMAN,
    FEDERAL RESERVE BANK OF MINNEAPOLIS

    “Constellation is uniquely focused on data and analysis to scale the most effective efforts to end poverty. I am humbled to support that effort in any way I can as a new board member.”

    MARY DEE HICKS,
    COMMUNITY LEADER

    “From its inception, I have been drawn to Constellation’s innovative model and its audacious ambition to alleviate poverty in our community.”

    KATHY SCHMIDLKOFER,
    COMMUNITY LEADER

    “I am proud to be a part of an organization creating lasting pathways out of poverty. Through analytics and research, we fund the most effective organizations and turn compassion into meaningful change for Minnesota.”

    ROB NELSON,
    NORTHROCK PARTNERS

    “I am excited to be part of an organization focused on identifying some of the best work happening in our community and then helping those organizations expand that impact.”

    *U.S. Census data estimates 620,000 Twin Cities residents living under 200% of the poverty line.

    CONTACT US

    The Constellation Fund
    323 N. Washington Ave.
    Suite 200
    Minneapolis, MN 55401 [email protected]

     

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    • Who We Are
      • Mission and Values
      • Our Team
    • What We Do
      • Our Approach
      • Beyond Dollars
      • CoLab
      • Grantmaking
    • Impact
      • Impact Overview
      • Impact Reports
      • Metrics
      • Annual Report 2026
      • Apply for Funding
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