2025 was a formative year for Headwaters. As we reflect, we do so with a deep sense of pride, purpose, and gratitude.  

Our 2025 Annual Report – out today – shares the story of our year. 

We are living through a difficult time for people who care about justice. But we always come back to the strength we build when we come together. Over the past year, Headwaters emerged more grounded and sure in our collective power than ever before. 

2025 also marked milestones in our grantmaking. Our work was refreshed, focused, and more impactful, thanks to the hard work of our staff and community grantmakers. 

We invite you to explore the 2025 Annual Report and celebrate the work we’ve accomplished together this year. This report highlights the work of grantees, the people who made our work possible, and the vision we’re shaping for a more equitable and just Minnesota. 

Thank you for being a part of the Headwaters community. Together, we are building new pathways toward justice and equity throughout Minnesota. 

With gratitude,