Saint Therese Foundation

Saint Therese Foundation

Founded in 1968 as a single senior-living community in Minnesota, the Saint Therese Foundation now operates as the philanthropic and financial anchor for a network of eight campuses in the Twin Cities metro and northern Ohio. Craig Abbott serves as President and CEO, while CFO Calvin Shelangoski oversees financial operations. The organization traces its origins to faith-based senior care, and it maintains an affiliation with the Archdiocese of Saint Paul and Minneapolis for spiritual oversight and approval. Saint Therese deploys capital primarily into operating real estate — independent living, assisted living, memory care, and skilled-nursing facilities — rather than third-party fund commitments. The portfolio spans suburban Minnesota locations including New Hope, Corcoran, Brooklyn Park, Shoreview, and Woodbury, as well as Avon and Westlake, Ohio, and Monroe, Michigan. Donor contributions support programming beyond what resident fees cover: culinary services, pastoral care, wellness centers, and rehabilitation. No external manager relationships or fund investments are disclosed. The foundation does not publicly disclose its endowment size or total deployment. Abbott also serves as Secretary/Treasurer on the board of LeadingAge Minnesota, the state association for nonprofit senior-care providers, placing the foundation at the center of sector advocacy and peer collaboration in the Upper Midwest. The organization operates with a 501(c)(3) structure, explicitly reinvesting all surplus into its communities. Structurally, Saint Therese is unusual among endowed foundations because it functions as both operator and asset owner. The same entity that raises and stewards the endowment also governs the senior-living campuses the endowment supports — creating a closed capital loop without separation between grant-making and operations. This embedded model means investment decisions are inseparable from facility-level service delivery, making the foundation’s capital allocation effectively indistinguishable from its operating budget.