Best Buy Foundation

Location: 7601 Penn Ave S, Richfield, 55423 MN

EIN: 41-1784382

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How many hours did the grant application process take?

9 hours

Median

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How would you rate this funder's accessibility?

83%

17%

How successfully do you think the funder is accomplishing its current philanthropic goals?

Important Information

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Top descriptors for this funder

2Openminded1Difficult to work with1Doesn't "get" nonprofits and issues1Builds relationships1Culturally sensitive1Friendly1Positive leader in the field1Responsive1Risk taker

Advice from a Friend

Best Buy Foundation

Feb 01, 2019

Reviewer 870 - Grant Applicant - applied in 2018

Know that organizations in the Twin Cities are treated differently than organizations elsewhere in the country.

Pros

Positive leader in the field, Risk taker, Builds relationships, Openminded

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Response from Best Buy Foundation

Feb 06, 2019

Thank you for your feedback. The Best Buy Foundation values the opportunity to meet with prospective grantees to explore partnership opportunities. Sometimes the meetings are via conference call, if staff is not located in the nonprofit market. For example, community grants is a nationwide program and is eligible to organizations close to our Best Buy stores and distribution centers. While these organizations will not be able to have an in-person meeting with the staff at our Best Buy headquarters based in the Twin Cities, organizations applying for a community grant often times have a relationship with our stores and store employees. These store/field employees are recommending the grants to be approved by this program to our social impact team and are therefore a meaningful part of the due diligence process. For the Twin Cities Fund, our corporate headquarters program staff are often able to have more in-person meetings and site visits with these organizations due to their close proximity to our offices. Regardless of the Best Buy Foundation funding pool a nonprofit is applying, we are open to meeting with organizations (in-person of via conference call) should there be a seemly strong fit with our guidelines. Again, we appreciate your feedback.

Jul 19, 2018

Reviewer 214 - Grant Applicant - applied in 2018

A lot of work to put the application together, and they ask for a lot of financial details

Pros

Culturally sensitive

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Response from Best Buy Foundation

Feb 05, 2019

Thank you for your feedback. Our intent is not to make the application process burdensome. The Community Grants program has a competitive pool of applicants and we request information that can help us make the best possible grant decisions. We do annually review our application questions and will keep this feedback in mind as we make further refinements of our process

Jun 29, 2018

Grant Applicant - applied in 2017

The Best Buy Foundation takes a heavy handed approach with philanthropy. Typically they come with what they think are solutions instead of asking the community for solutions. Too often its their way or the highway.

Cons

Doesn't "get" nonprofits and issues, Difficult to work with

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Response from Best Buy Foundation

Feb 04, 2019

Thank you for your feedback. We appreciate your perspective. The Best Buy Foundation has a limited budget and has carefully crafted its guidelines in collaboration with the community and workforce development trends. The Best Buy Foundation has worked with an independent consultant to help gather community and teen perspectives to better inform our philanthropy, which helps underserved teens become better prepared for tech-reliant careers.

To that end, we often engage in conversations with potential partners to ensure the partnership is a good fit both ways. It is not our intention to request or require the nonprofit partner to do work outside of their mission. We’ve found that open and honest conversations with potential partners helps to create long-lasting and mutually beneficial partnerships that deliver on a shared vision and outcomes. For our larger grant partners, we keep the communication lines open to ensure it’s a fit for both parties. When we invest, it’s Foundation funds, employee resources, and mutual thought partnership. Again, we sincerely appreciate the input and value the feedback.

Mar 07, 2018

Reviewer 918 - Grant Applicant - applied in 2017

This application is web-based with character count requirements; however, we felt that they gave ample space to be able to make our case, which was really helpful.

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Response from Best Buy Foundation

Feb 04, 2019

Thanks for your feedback. We do try to make ourselves available but admit sometimes we get busy and need a reminder. Please do not hesitate to follow up with an email. If you do not have a direct email our general email box, socialimpact@bestbuy.com, is a good place for initial contact so that we can direct your question to the correct program lead.

Feb 16, 2018

Reviewer 352 - Grant Applicant - applied in 2017

Best Buy is very interested in funding youth and tech-friendly projects, however they need not be completely tech based. Its good to have a component of technology in the project.

Pros

Friendly, Openminded, Responsive

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Response from Best Buy Foundation

Feb 04, 2019

Thanks for the feedback. We know our website needs some work and this is a good reminder we need to make it more of a priority. Look for changes in the future!

Sep 15, 2017

Grant Applicant - applied in 2017

Though my organization has received community grant funding from Best Buy Foundation previously, their process has gone downhill in my opinion. The Foundation lacks transparency. They no longer share the names of grant awardees publically.
In reviewing their 2016 990s I see that they only gave out 17 community grants last year. Unless you are located near their corporate headquarters I suggest your odds are small and the application too intensive for a small grant of $5,000.
In addition, the Foundation updated their application but it no longer aligns with the description, "required elements of proposal" listed on their website which is confusing.

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Response from Best Buy Foundation

Feb 04, 2019

Thanks for your comments. In 2017, our grants management system was purchase by another vendor and we had to make a quick migration to the new vendor's system. Admittedly, the switchover did not go smoothly and we did have a few issues through out the transition year, some that we are still working on. Regarding our community grants program, in 2016 we did give out over 2.2M in grants to over 400+ organizations across the country. We do not list them on our website due to the number of grants given. We would appreciate any additional feedback you can give us regarding our application. We do not want this to be burdensome, so if you could send specifics on which questions were too intensive, we are always looking to better our process and application. You can send feedback to socialimpact@bestbuy.com

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