# Mardag Foundation

Mardag Foundation is an Endowment / Foundation based in Saint Paul, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Saint Paul, United States
- **Region:** North America
- **Address:** Saint Paul, Minnesota, United States
- **Founded:** 1969
- **Assets under management:** Undisclosed
- **Website:** mardag.org
- **LinkedIn:** https://www.linkedin.com/company/mardag-foundation

## Regulatory record

- **Reports private funds:** No

## About

Agnes Ober established the Mardag Foundation through her will, formalizing a philanthropic vehicle that launched in 1969. Her husband, Edgar Ober, was among the earliest backers of 3M, and the family's legacy is now stewarded by descendants including Board President Kelsey LaValle and Treasurer Nate Ober, who also holds ties to Ecosystem Investment Partners. The foundation directs grants toward improving quality of life for underserved groups in the East Metro and Greater Minnesota, with a particular focus on children, seniors, and at-risk populations. Its programmatic interests span education and arts, and the organization also supports broader community initiatives through strategic partnerships with local philanthropy. Mardag does not publicly report an asset-allocation mix, but its structure aligns it closely with the Saint Paul & Minnesota Foundation, which manages its back-office functions and investment operations. Mardag Foundation operates alongside the F. R. Bigelow Foundation as a partner entity within the Saint Paul & Minnesota Foundation network, sharing staff and resources. While the foundation's total professional headcount is not disclosed, this shared-services architecture allows it to run lean. The combined entity is a signatory to the UN Principles for Responsible Investment, embedding ESG considerations across the pool of assets it stewards for Mardag and its affiliate foundations. The foundation's structural differentiator is its complete operational integration into a larger community-foundation chassis. Rather than maintaining an independent investment office or grantmaking apparatus, Mardag relies entirely on the Saint Paul & Minnesota Foundation's infrastructure, creating a governance layer that separates the Ober family's board oversight from day-to-day execution while embedding the foundation's assets inside a multi-billion-dollar institutional investment program.

## Sectors

- Education
- Healthcare Services

## People

- Agnes Ober — Founder
- Kelsey LaValle — President of the Board
- Nate Ober — Treasurer of the Board
- Tim Ober — Former Board Chair

## Questions

### How is Mardag Foundation related to the Saint Paul & Minnesota Foundation?

Mardag is a partner foundation within the Saint Paul & Minnesota Foundation network. It shares staff, resources, and investment management with the larger community foundation, operating under a service agreement rather than maintaining a separate back office or CIO function. F. R. Bigelow Foundation is another partner foundation in the same network.

### Where does Mardag Foundation's wealth come from?

The foundation was created through the estate of Agnes Ober, who directed her assets to philanthropy upon her death in 1969. Her husband, Edgar Ober, was an early investor in 3M, and the couple's wealth formed the endowment that funds the foundation's grantmaking today.

### What types of organizations does Mardag Foundation support?

Mardag concentrates its grantmaking in Minnesota's East Metro and Greater Minnesota regions. It funds nonprofits focused on children, seniors, and other at-risk populations, with additional programming interests in education and the arts.

### Does Mardag Foundation have a disclosed investment portfolio?

No. Mardag does not publicly disclose its asset allocation or individual holdings. Its assets are pooled with those of the Saint Paul & Minnesota Foundation, which publishes combined financial statements but does not break out Mardag-specific investment positions.

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Last updated: 2026-06-03T20:00:00.000Z

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