Minnesota's largest foundation will have a new CEO on July 1.

Christy Morse, CEO and chairwoman of the Margaret A. Cargill Philanthropies (MACP), the umbrella organization for Minnesota's largest foundation, announced her retirement as CEO. The organization subsequently said Paul Busch, the nonprofit's current president, will take over her duties.

Morse will remain CEO emeritus until Jan. 31, 2018, and remain board chairwoman for the organization's two grantmaking foundations, the Margaret A. Cargill Foundation and the Anne Ray Foundation.

"Staying on as board chair will allow me to continue to be active in the life of the Philanthropies, particularly with our grantmaking strategies and approach," Morse told employees when she announced her retirement. "That role is incredibly important to me, just as it was to Margaret," Morse said in a news release.

Morse was a close friend of Margaret Cargill and helped her form MACP in 1995. Cargill died in 2006, and Morse became CEO and board chairwoman that year. Morse has helped the nonprofit grow from its origins as a $9 million Southern California-focused foundation in 1995 to a $7 billion global philanthropy. Throughout its history, it has awarded over $1 billion in grants, including 220 grants worth more than $240 million in 2016.

Morse, a Gustavus Adolphus grad, began her career in the internal audit department of Cargill Inc. and later worked for Waycrosse Inc., a financial advisory firm for family owners of Cargill.

The two grantmaking foundations of MACP make contributions in seven primary interest areas: environment, disaster relief and recovery, arts and culture, animal welfare, quality of life, teachers, and legacy and opportunity.

Busch has been president of MACP since 2011 and a board member since 2006. He helped to build MACP's grantmaking and support staff from 14 people in 2009 to more than 90 employees today.

Patrick Kennedy • 612-673-7926