Minot Area Community Foundation Raises Nearly $750,000 only Seven Months into Bremer Challenge Grant
Minot, N.D. – November 1, 2007 – Minot Area Community Foundation is only seven months into the $1 million challenge grant received from Bremer and the Otto Bremer Foundation, but within those few months, significant progress has been made. MACF President Ken Kitzman and Bremer Foundation Trustee Dan Reardon announced today that MACF has raised $742,052.
MACF received in March the $1 million community challenge grant from Bremer, and its partner the Otto Bremer Foundation, to launch the Bremer Community Impact Fund. This is the first time Bremer has made a gift of this type and size to a community foundation. In order to maintain the one-to-one challenge grant, Minot Area Community Foundation must match the grant through local gifts from area donors. The matching grant will be awarded over three years, from now through 2009.
“Bremer Bank and the Otto Bremer Foundation share a commitment to community,” said Dan Reardon, Otto Bremer Foundation trustee. “When we chose the Minot Area Community Foundation as the organization to team with for this grant, we hoped it would inspire others to join us in philanthropic efforts and community commitment in the area. We are amazed at how quickly Minot area residents acted upon the call to action, showing that they share our vision of giving back to the community.”
“Thanks to the strong support from residents in the surrounding Minot area, the Minot Area Community Foundation is way ahead of the deadline to raise funds for the Bremer Challenge Grant. This is very exciting, and we couldn't have done it without you,” said Kitzman. “The sooner we raise all of the funds, the sooner the money goes back into the community - into programs that assist seniors, keep our children safe and directly impact the lives of many others.”
Kitzman reminds Minot area residents that while the Minot Area Community Foundation is ahead of schedule in raising funds, the foundation still has $257,948 to go. “I strongly encourage everyone in Minot and the surrounding areas to help us meet the grant requirements. This is a great time to donate to the Minot Area Community Foundation because the matching grant essentially doubles a donor's gift. For example, a $10,000 gift really means that $20,000 goes back into the community. Plus, donors can take advantage of special tax incentives that are in place only through the end of 2007.”
Donations to Minot Area Community Foundation come in the form of planned gifts and direct donations from individuals and families. Minot Area Community Foundation also works closely with other foundations, corporations and organizations that wish to establish funds to benefit nonprofit organizations of their choice within the area.
A volunteer board of directors governs Minot Area Community Foundation. Members include Chairman of the Board - Dan Feist, Feist Realty; Vice Chairman - Ken Williams; Secretary - Lowell Latimer, Minot Public Schools Foundation; Treasurer - Brad Bergman, Bremer Bank and Trust; Investment Committee Chair - Jim Thompson, Eide Bailly LLP; Allocation Committee Chair - Connie Feist; Real Builders, Inc.; Brekka Kramer, Odney Advertising; Wendy Meland, American Bank Center; Dick Olson, Olson & Burns, P.C.; Judith Cummings, ING Minot Service Center; Wally Hankla; F. Bruce Walker, Jr., Coldwell Banker-First Realty; and Ken Kitzman, President.
Bremer Financial Corporation
Bremer Financial Corporation is a privately-held, $7.0 billion regional financial services company jointly owned by its employees and the Otto Bremer Foundation. This unique ownership structure is the only one of its kind in the nation. Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, investment, trust and insurance services to more than 100 locations in Minnesota, North Dakota and Wisconsin. Company profits are distributed in the form of charitable grants by the Otto Bremer Foundation to communities served by Bremer. In 2006, more than $30 million in charitable donations were given across the Bremer footprint and employees donated nearly 76,000 volunteer hours to their communities.
Minot Area Community Foundation
Established in 2000, Minot Area Community Foundation is a locally controlled foundation that represents all nonprofit organizations in the Minot area and fosters a climate of cooperation and goodwill among nonprofits and communities throughout the region. It is now the largest provider of financial support to nonprofits in the Minot area. In 2006, Minot Area Community Foundation gave over $700,000 to local nonprofits and organizations in need.