Celebrating ninety-nine years of local giving
November 19, 2013 by Blandin Foundation
People investing in hope for a better community – now that’s vibrancy. Today, we say thank you to our community foundation friends. Your work to foster local giving continues to create vibrancy in our Minnesota communities.
Yesterday wrapped up Community Foundations Week, an annual celebration of the organizations that connect people to the causes they care about. For ninety-nine years, community foundations across the United States have been cultivating hope by banding together with community champions to invest in the future.
Minnesota alone has 27 community foundations that add to the vitality of our state. Each day they work with charitably-minded donors to identify community needs and meet them head-on with generosity.
As Minnesota community foundations look forward to their centennial, a new wave of potential donors are primed to kickoff the next century of local giving. In the Minnesota Council on Foundations Transfer of Wealth study, it is estimated that, over the next 20 years, more than $47.9 billion will transfer from one generation to the next. If 5% of those dollars were directed to permanent endowments at community foundations, there would be an additional $120 million in new grants available every year for local nonprofits. As an incentive for donors to keep their money local, Minnesota community foundations have created Endow Minnesota, a legislative initiative that, if passed, will give donors a 25% tax credit, up to $100,000 annually, when they give to a permanent endowment.
Community foundations: cheers to ninety-nine years of local giving and here’s to many more!
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