The Minneapolis Community Foundation is a key to our future. Keeping it alive and thriving is critical for future generations and the success a creating a place for all. The foundation thanks all for what they have given and hope that we can always be of service. Raising over $100,000.00 in gifts has been a great achievement. Those projects have included the improvements in Markely Park. Both being the public restrooms and the play area. But more can be accomplished with your help.
What is a Community Foundation
What is a community Foundation? How does a Foundation benefit the community? A community foundation is a wonderful institution. You can think of a community foundation as community savings account. It’s a vehicle to help build a brighter future for our hometown. A community foundation can embrace all the best aspects of our hometown, our place, our heritage and our potential.
The Minneapolis Community Foundation was founded in 1997. A community foundation is a 501 (c) (3) non-profit corporation that receives charitable gifts, manages and invests them, and grants the gift (either outright or from the earnings from an endowment) for the betterment of the community. These gifts can be tax-deductible for the donor. There has never been a more important time for us as a rural community to focus on our future. And the Minneapolis Community Foundation is a critical part of our success.
Ways of Giving
All such gifts qualify for maximum deductibility for income tax purposes, subject to the most favorable percentage of income limitation.
Gifts of appreciated securities and real property to the Foundation may provide important tax advantages to a donor.
The foundation may be named as the residuary beneficiary of a donor’s estate. After the estate is given to the legal heirs there may be an advantage for the estate to give the remaining proceeds to the foundation. Consult with your advisor.
Charitable Remainder Trusts
When the life income interest of the donor or other named beneficiary is terminated the assets representing the gift will be distributed to the Foundation to be used in a manner directed by the donor.
Private Foundations may find it useful to make direct gifts or transfers all or in part of their assets to the Foundation.
Using the Minneapolis Community is a great avenue for our community and for future generations. We encourage everyone to consult with his or her tax advisor and investigate the benefits of giving to the foundation.
The mission of The Minneapolis Community Foundation is to expand private philanthropy in our community. The Foundation perceives philanthropy to entail the gifting of assets for charitable purposes, and the use of those assets to create meaningful impact. The Foundation encourages individuals, families, and companies to become effective and strategic philanthropists. In accomplishing its mission, the Foundation seeks to increase donors' satisfaction with their philanthropy, and, more importantly, increase the influence of their giving and its benefit to the public good.
The vision of The Minneapolis Community is to transform philanthropic impulse into community results. We seek to understand donors' philanthropic goals and help them reach these goals by providing expertise, resources, and services to address their interests in creative and significant ways. The Foundation strives to create engaged, proactive, philanthropists who will plant the seeds for a thriving community.
Thank you to those who contributed to the Foundation in the past year. We know that with your help the future of Minneapolis is bright.
Current Board of Directors
Dr. Kerm Wedel
Dr. Ken Wedel