Fulfilling a passion for changing the world |
Wendy Cox is one of many donors who choose to accomplish their charitable goals through The Minneapolis Foundation. For Wendy, those goals include international giving. She reflects, "My husband and I saw how a small loan could transform lives, but our lives, too, were transformed by the realization that we can play a meaningful role in ending global poverty."
Her support of and work with Opportunity International has taken her around the world to meet women who have built thriving businesses from $100 loans. She shared her expertise with other Foundation donors at an event on microcredit.
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Creating a legacy
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Henry and Betty Albrecht created a family foundation in the 1950s. They retired to Florida in the ‘70s and, with a grant from their foundation, created a Donor Advised Fund so their adult children could pursue their own charitable interests in Minnesota.
Eventually the Albrechts transferred the balance of the private foundation assets to the Donor Advised Fund. With these additional resources, the fund qualified as a Signature Fund. It continues to honor the legacy of the founders as an endowment, with the children serving as advisors. Read their story... |
Helping families come together around charitable giving
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Teaching her family about philanthropy was one of Flo Francis' goals when she established her Donor Advised Fund. Last year Foundation staff helped her bring her family together around charitable giving.
Each child and grandchild was provided a specific amount of dollars to recommend for grants. They also had to share their charitable choices with the rest of the family and work together to agree upon a single organization to receive one large gift.
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Giving with purpose
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When Mark Hiemenz and Charlie Rounds, both active in politics and LGBT issues, established their Donor Advised Fund in 2004, they chose to make a statement by naming their fund “Mark and Charlie’s Gay Lesbian Fund for Moral Values.”
The Minneapolis Foundation works with donors to ensure that their priorities and passions are reflected in their philanthropy.
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Bolstering the health of a youth mentoring program
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Bolder Options helps at-risk youth set and reach positive goals for their bodies and their minds.
To help ensure a solid future for its mentoring programs, Bolder Options tapped into The Minneapolis Foundation's planned giving services for nonprofits. An Endowment Fund, along with tools and strategies to encourage and accept planned gifts from their donors will help Bolder Options stay strong.
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A 1930 gift continues to benefit Minnesota youth |
What a legacy. Although Walter Boutell died more than 70 years ago, his generosity continues to benefit young people today.
Children growing up in tough circumstances gain outdoor experiences and confidence thanks to the Walter D. Boutell "campership" fund. This fund has enabled Twin Cities youth to attend summer programs such as YMCA's Camp St. Croix (left).
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Valuing service, expertise, and connections |
Dick McFarland, former chairman of what later became Dain Rauscher and RBC Wealth Management, served as chair of The Minneapolis Foundation’s board of trustees.
He and his wife Joyce continue to be two of The Minneapolis Foundation’s most enthusiastic supporters.
They have often utilized staff expertise, including the facilitation of a family meeting to introduce their children to the Foundation, its work, and the work of their Donor Advised Fund.
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Preserving cultural heritage
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Ming Tchou created the Chinese Heritage Foundation, a collection of funds at The Minneapolis Foundation, that share a purpose to preserve and promote the understanding of Chinese history, culture, and heritage.
She provided the initial resources to launch the Chinese Heritage Foundation and created a Donor Advised Fund under its umbrella—the Dr. M. F. Tchou Memorial Fund—in honor of her late husband, Dr. James Tchou.
“As I look back on my 40 years in Minnesota, I know that I have been blessed with a wonderful life here and that it is time to give back to our community."
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Instilling the values of corporate citizenship
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Wayzata financial advisory firm Blue Rock Advisors practices what it preaches, not only encouraging its clients to be charitable, but its staff as well.
Blue Rock's principals created a Corporate Advised Fund at The Minneapolis Foundation that's guided by the company's employees -- making it easier for everyone to make a difference.
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Turning real estate
into community benefits
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Many people mistakenly think of cash as the only financial vehicle for creating or adding to a charitable fund. In fact, The Minneapolis Foundation accepts a wide variety of asset types.
For example, by working with Foundation experts, one of our donors discovered that by donating a condominium to her fund at the Foundation, she could achieve tax benefits, avoid the hassle of renting or selling, and make significant grants to organizations in need.
In addition, her tax deduction was not reduced by the expenses associated with the sale.
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Giving back to the community that helped their company grow |
When Dan and Carol Mulheran sold their Minnesota business, they donated the proceeds of the sale to a Charitable Remainder Trust, with The Minneapolis Foundation as the trustee and beneficiary.
Besides achieving favorable tax benefits, the trust provides income for their lifetimes and created a substantial charitable gift administered through the Foundation.
The Mulherans’ goal was to give back to the community that helped grow their company, while providing a well-invested income for themselves. The Foundation helped them find a creative way to do it.
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Making provisions to support the community beyond their lifetimes
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Local business owners Grace and Leland Starr converted their private foundation to a Donor Advised Fund, through which they supported the Children’s Home Society, Hospitality House, the Salvation Army, and many other causes and charities they cared about. During their lifetimes, they designated a percentage of their fund each year to the Foundation’s grantmaking.
After their lifetimes, a $2 million unrestricted bequest they made to the Foundation continues to benefit our community.
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For community radio, a community foundation
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"We found in working with The Minneapolis Foundation that the staff had a real sense of caring and commitment to our success,” says Janis Lane Ewart, executive director of KFAI-FM, Fresh Air Radio.
KFAI has both an Endowment Fund and a more flexible Opportunity Fund at The Minneapolis Foundation, allowing donors to support KFAI with gifts of stock and other assets.
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Helping U.S. Bank employees assist one another in times of need
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"Our greatest source of pride at U.S. Bank is the employees that share their time and talent every day. When one of our employees is in need of assistance, I am always amazed at the generosity of our fellow employees that provide help in any way they can. Through the new Employee Assistance Fund, we can now bring that spirit of giving closer to home."
- Richard K. Davis
Chairman, President and CEO of U.S. Bank
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Growing an interfaith endowment for the future
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Interfaith Outreach & Community Partners is building an endowment to fund its important work in the areas of housing, food, childcare, transportation, and community connections.
Interfaith Outreach joined The Minneapolis Foundation's Investment Partnership to benefit from our professional fund management and investment services for their growing endowment, while retaining control of the assets.
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Ensuring the health of the communities they serve
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Austin Mutual considers its Corporate Advised Fund at The Minneapolis Foundation "a great success story."
"It has proved an effective way for Austin to be engaged in the communities in which we and our agents live and work," says Bruce Lonnes, committee chair of the Austin Mutual Foundation.
Austin Mutual Insurance Company, a firm widely known for its financial strength, was looking for ways to give back to the rural communities it serves.
Through a Corporate Advised Signature Fund with The Minneapolis Foundation, Austin Mutual employees are involved in the charitable giving process. It's a win-win-win for the company, its employees, and communities throughout the country.
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Realizing a vision for his community's seniors |
Bill Gillespie wanted to give back to his community, Mound, by helping to develop a senior center.
The Minneapolis Foundation worked with Bill to establish a Designated Beneficiary Fund that supported the proposed center over time – while allowing him to take full advantage of the charitable tax deduction.
The Foundation's thoughtful, proactive stewardship benefited both the donor and the seniors in his community.
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Helping her clients make a difference through charitable planning |
Lori Helmer understands the role of the community foundation. As senior vice president at U.S. Trust/Bank of America Private Wealth Management, she regularly incorporates charitable planning into discussions with her clients.
And she keeps up to date on charitable planning techniques by taking advantage of the many learning and peer networking opportunities The Minneapolis Foundation provides to professional advisors.
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Building a hopeful future for children in need, while teaching their own children the value of giving |
Scott and Sue Augustine had a vision to give hope to orphaned children in Tanzania – and to teach their own sons about the importance of reaching out to others.
Through Peace House Africa, the Augustines are creating a brighter future for Africa's orphans, vulnerable children and their communities through nurturing care, dynamic education, technology research and business development.
The vehicle to make it happen? A Signature Fund at The Minneapolis Foundation.
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