Ripley Hospital For Women (known until 1955 as Maternity Hospital) was founded by Dr. Martha G. Ripley in November 1886 (incorporated in July 1887) as a facility for unmarried women and needy married women. The institution also helped to place those children given up by their mothers for adoption.

In its early months the hospital was located at 316 15th Street South in Minneapolis but quickly outgrew this space. A house at 2529 4th Avenue South was purchased where it remained until 1896, when the residence of A. T. Ankeny, located on five acres on the corner of Glenwood and Penn Avenues North, was purchased. The hospital remained at this location until 1956, when it was forced to close its doors due to declining occupancy and funding problems.

Once the hospital closed, the building was sold to Children's Hospital and the assets retained to create the Ripley Memorial Foundation, which would provide financial support for activities and agencies that promoted the welfare of women and children, particularly expectant women, as well as single mothers and their children. Over the years, the scope broadened to include issues such as educational and employment needs in addition to physical and mental health concerns. Since 1993, the foundation has directed a major portion of its funds to programming to prevent the teen pregnancy.