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Tom Crann
St. Paul, Minn.

Caroline Preston on Cargill Foundation's big boost

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Minnesota's nonprofit community hopes for a boost after Cargill announced a deal that would increase the size of a couple of its foundations by around $9 billion.

Two of the foundations created by Margaret A. Cargill will receive the billions after the company sells its stake in fertilizer manufacturer Mosaic. The final size of the foundations won't be known until late spring.

The combined Margaret A. Cargill Foundations could become become the third largest in the country, behind the Bill and Melinda Gates Foundation and the Ford Foundation.

Caroline Preston wrote about the deal in the Chronicle of Philanthropy and she joined All Things Considered host Tom Crann by phone from Washington, D.C.