2019 Initiative Foundation Annual Impact Report

Dear Friends,

As I write this in the spring of 2020, we remain in the middle of a global pandemic. Besides harrowing impacts on health, we’ve also experienced a dramatic shift in economic circumstances—from strength and growth to contraction and uncertainty. So we’ve all had to change. To learn. To adapt.

At Wyoming Machine, the business I co-own with my sister, we’ve changed how we operate to keep our welders and other employees safe from infection. And we’ve altered our production to include making parts for ventilators now helping people who are battling to survive COVID-19.

The welder on the cover of this report was photographed before the pandemic— in a time of low unemployment and workforce shortages. As chair of the Initiative Foundation’s Board of Trustees, I’ve had an inside perspective on the Foundation’s workforce development efforts, supporting recruitment and training of more welders and other high-demand professions.

On behalf of the Foundation’s board and staff, I’m pleased to present this 2019 annual report. It features the many innovative ways the Foundation supports community and economic development in Central Minnesota, thanks to generous donors within and beyond our region.

In many ways it was our strongest year yet, with more grant-, loan- and training-related success stories than ever before. Not only were these 2019 success stories valuable in and of themselves, they also established a precedent for what is arguably our most important work yet: namely, the support of businesses, nonprofits, local units of government and other Central Minnesota friends and stakeholders through a challenging pandemic.

In the initial months of the crisis, the Foundation pivoted to quickly address the emergency with actions like:

• Delivering grants to childcare providers to help them keep their doors open for the children of emergency workers

• Providing $1.2 million in partially forgivable loans to businesses affected by stay-at-home orders

• Raising and granting hundreds of thousands of dollars to area nonprofits serving essential needs related to nutrition, shelter and health

• Adapting to remote delivery of critical training programs for the region’s up-and-coming entrepreneurs and nonprofits.

While the future holds many uncertainties, I can assure you that the Initiative Foundation, powered by the generosity of many, remains well prepared to support the region’s success, come what may.

A sincere thank-you from all of us to all of you for making this important work possible.

Traci Tapani

Traci Tapani, Board of Trustees chair, and Matt Varilek, president of the Initiative Foundation

generosity

GOLD STAR GIVING Education Funds Invest in Teacher, Student Success

Though in existence just two years at the end of 2019, the Albany Area Education Foundation has built a $70,000-plus endowment and has awarded numerous school-based grants. The effort is powered by an Initiative Foundation partnership with a team of advisers who are invested in education and the opportunities it can bring to students and teachers alike.

curiosity

EPICALLY INTERESTING Career Exploration Event Showcases Local Opportunities

More than 3,300 high school students experienced the second annual Exploring Potential Interests & Careers (EPIC) at St. Cloud Technical and Community College with support from an Initiative Foundation grant. Volunteers and businesses from throughout the Greater St. Cloud area introduced students to career opportunities ranging from automotive and agriculture to construction, manufacturing and the sciences.

ENTERPRISING INDIVIDUALS Enterprise Academy Fast-Tracks Entrepreneurs, Ideas

About 20 Enterprise Academy students completed a 12-week educational course in 2019, including cohort No. 4, which celebrated with a December graduation ceremony at the Whitney Senior Center in St. Cloud. The Enterprise Academy provides training, one-on-one consulting and access to a lending program to help early stage entrepreneurs start and grow vital small businesses.

innovation

THE ARC OF OPPORTUNITY Welding Whim Sets Schuller on Career Course

It was something of a lark: Willow Schuller was in the waning years of high school, on track to further her education in nursing, when she made a snap decision to try a welding course. It provided an unexpected arc of opportunity as Schuller landed a technical college scholarship and then a full-time job with a local manufacturer.

* Excludes $519,000 in grant deobligations and repaid grant funds for our Healthy Lakes & Rivers program.

Total Assets: $81.8 Million Endowment Value: 60.1 Million

OUR SUPPORTERS

Initiative Foundation Program & Endowment Contributors 2019

Your support of the Initiative Foundation’s endowment and programs is the financial backbone of our long-term success. The endowment provides resources each year for staff to work with local leaders to encourage economic development, help businesses get started

President: $50,000+

Bush Foundation Corporation for National & Community Service

Granite Equity Partners, LLC

Lessard-Sams Outdoor

Heritage Council

McKnight Foundation

Minnesota Department of Employment and Economic Development

Minnesota Department of Health and Human Services

Neighborhood Development Center

Otto Bremer Trust

Sourcewell

The Funders Network

Youthprise

Leader: $15,000+

Blandin Foundation

Cass County

Great River Energy

U.S. Department of Agriculture

Director: $9,000+

Crow Wing County

East Central Energy

Stearns Bank NA

Stearns County

Associate: $6,000+

Anonymous

Anderson Brothers

Construction Company

Benton County

Isanti County

Morrison County

Pine County

Schlagel, Inc.

Stearns Electric Association

Todd County

Wright County

Entrepreneur: $3,000+

Blue Cross Blue Shield Foundation

Bremer Bank

Central Minnesota Noon

Optimist Club

Chisago County

City of Baxter

City of Becker

City of Brainerd

City of Elk River

City of Little Falls

City of Milaca

City of St. Cloud

City of Wadena

Clow Stamping Company

Connexus Energy

Consolidated Telecommunications Company

Crow Wing Power

Harvest Bank

Lee & Jan Hanson

McDowall Company

Mille Lacs County

Minnesota Department of Education

Sherburne County

St. Cloud Hospital / CentraCare

Health System

Stearns Electric Association

U.S. Bank Foundation

Maggie & Matt Varilek

Investor: $1,000+

American Heritage National Bank

Arvig Communication Systems

John E. Babcock

Bank of Elk River

BankVista

Rick & Helga Bauerly Family Fund of Central Minnesota Community Foundation

Benefit Innovations

Dick & Mimi Bitzan Family Fund of Central Minnesota Community Foundation

BlackRidgeBANK

Brainerd Lakes General Fund of the Brainerd Lakes Area Community Foundation

Brenny Transportation

Michael & Kathleen Burton

Lynn & Darren Bushinger

Cambridge Medical Center on behalf of Allina Health System

Citizens State Bank of Waverly

City of Albertville

City of Annandale

City of Big Lake

City of Cambridge

City of Clarissa

City of Crosslake

City of Eden Valley

City of Lake Shore

City of Long Prairie

City of Maple Lake

City of Melrose

City of Monticello

City of Mora

City of Nisswa

City of Pierz

City of Pine City

City of Princeton

City of Rockford

City of Sandstone

City of Sartell

City of Sauk Centre

City of Sauk Rapids

City of St. Joseph

City of St. Michael

City of Staples

City of Waite Park

Compeer Financial

East Central Energy Trust

Edelweiss Cabinetry

Linda Eich DesJardins & Joseph DesJardins

Don & Deanna Engen

Falcon National Bank

Farmers & Merchants State

Bank Charitable Fund of the Central Minnesota Community Foundation

First Bank & Trust

First National Bank North, Walker

First National Bank of Milaca

First State Bank of Wyoming

Frandsen Bank & Trust, Baxter, Crosslake, Nisswa, Foley, Braham, Forest Lake & Pine City

Kathy & Neal Gaalswyk

IPEX, Inc.

Kanabec County

Don Hickman & Sandra Kaplan

Jo & Larry Korf

LINDAR / Avantech

Little Falls Area Chamber of Commerce

Long Prairie Packing Company

Marco Technologies, LLC

Mille Lacs Energy Cooperative

MINPACK, Inc.

Monroy Law Office, PLLC

Neighborhood National Bank

NOR-SON, Inc.

Martin Paradeis

Park Industries, Inc.

Pequot Tool & Manufacturing, Inc.

Pine Country Bank

Philip & Susan Prosapio

RiverWood Banks

John & Bonnie Schlagel

Schlenner Wenner & Co.

Sherburne State Banks & Sentry

Banks

Steve & Leila Shurts

Kimberly & Denise Slipy

Rita and Everett Sobania

Charlotte Stephens

Todd-Wadena Electric Cooperative

Tim & Carrie Tripp

Ludmila Voelker

Wadena County

Wadena State Bank

Gene & Bernie Waldorf

Kristi Westbrock & Mike Bjerkness

West Central Telephone Association

Widseth Smith Nolting and Associates, Inc.

Jeff & Laurie Wig

Diane Wojtanowicz

Friend: Up to $1,000

Alpine Cabinetry, LLC

AmazonSmile

Jason Anakkala, LTD

Brett & Leah Anderson

Gayle A. Anderson

Anonymous

Anonymous

Jessy Beto

Jessica & Michael Bitz

Nathan & Kathryn Bjorge

Charles & Kathryn Black Lance

Chet & Amanda Bodin

Steve & Katy Botz

Dan & Marie Bullert

City of Albany

City of Backus

City of Belgrade

City of Bertha

City of Braham

City of Breezy Point

City of Brooten

City of Burtrum

City of Cass Lake

City of Center City

City of Cokato

City of Cold Spring

City of Delano

City of Eagle Bend

City of East Gull Lake

City of Emily

City of Fifty Lakes

City of Foley

City of Garrison

City of Genola

City of Grey Eagle

City of Hackensack

City of Hanover

City of Harding

City of Henriette

City of Hewitt

City of Hinckley

City of Holdingford

City of Howard Lake

City of Ironton

City of Isanti

City of Isle

City of Jenkins

City of Kimball

City of Lastrup

City of Lindstrom

City of Longville

City of Manhattan Beach

City of Menahga

City of Montrose

City of Motley

City of Onamia

City of Otsego

City of Paynesville

City of Pease

City of Pequot Lakes

City of Pillager

City of Quamba

City of Randall

City of Rice

City of Richmond

City of Riverton

City of Rockville

City of Royalton

City of Rush City

City of Sebeka

City of South Haven

City of St. Martin

City of Swanville

City of Upsala

City of Verndale

City of Wahkon

City of Waverly

City of Zimmerman

Abdi Daisane and Fadumo Hassan

David & Kim Ellingson

Don & Deanna Engen

Tammy & Pete Filippi

Thomas & LaRae Foehrenbacher

Denise Fletcher

Yadira & Richard Frey

Jeff Fromm

Ray & Gwynne Gildow

Harold K. Gramstad

David Gruenes

Chris Fastner & Kathy Hakes-Fastner

Noel Harness

Andrea Davila & Grace Glenny

Richard & Thelma Hess

Reiko Koyama & Suellyn Hofmann

Heather Hoskins

Impact Minnesota

Interior Components Group

Bill & Sarah Israelson

Betty & Clifford Johnson

Craig & Debra Johnson

Lowell S. Johnson

Gary W Y Kwong

Allan Larson

Jeremy & Barb Larson

Laura Larson

MaryAnn & Peter Lindell

Lois A. Manske

Thomas & Michelle Matchie

Bob & Lisa McClintick

Bob & Linda McManus

Midwest Security & Fire

Michele & Zachary Miller

Braden & Cheri Moore

Morgan Family Foundation

Lee & Vicki Morgan Fund of The Dayton Foundation

Walter & Adele Munsterman

Joseph Nayquonabe & Christina Clitso-Nayquonabe

Julie & Kevin Nelson

Tim & Kelly Nelson

Network for Good

Carl & Jenny Newbanks

Don & Loni Niles

Jerome Norberg

Allison & Pete Norgren

Robert & Marilyn Obermiller

Christa Otteson

Glen Palm & Jane Ellison

Steve & Beryl Roe

Anthony Romaine

Elizabeth Larsen & Walter Schleisman

Tom & Nadine Schnettler

Mike & Dorothy Simpson

Pat & Guy Spence

John & Lissa Sumption

Jessica & Zach Tabatt

Traci Tapani

Dickran & Ann Tashjian

Kerie & Jeff Thoma

Dianne C. Tuff

Kelly & Carie Verley

Dr. Robbyn Wacker & Jani Malkiewicz

Anthony & Marie Wagner

Tim Wensman

Western Bank

Amanda & Scott Whittemore

Wayne & Lori Wolden

David Wood & Barb Downs

INITIATIVE FOUNDATION 2019 AND 2018 BALANCE SHEET

INITIATIVE FOUNDATION 2019 REVENUE & EXPENSE STATEMENT

$56.2 $59 $66.6 $64.2 $76.3 NET ASSETS

Net assets have grown from $56.2 million in 2015 to $76.3 million as of Dec. 31, 2019, representing a 36 percent increase.

A complete audit report prepared by Schlenner Wenner & Co. is available upon request. For a summary of the Initiative Foundation’s impact on the region since inception, visit ifound.org/about-us/annual-reports.

Special thanks. . .

TO OUR 2019 COMMUNITY BUILDERS CIRCLE MEMBERS

Your Region. Your Initiative. Your Foundation.

Make a gift of $1,000 or more per year to the Initiative Foundation’s programs or General Endowment—a forever fund that powers the Foundation’s grants, programs and services. When you give, you’re helping our communities thrive and grow—from our youngest to our most senior members. Visit ifound.org/generosity/community-builders-list to learn how you can join and make a difference.

Businesses

• American Heritage National Bank

• Anderson Brothers Construction Company

• Arvig Communication Systems

• BankVista

• Benefit Innovations

• BlackRidgeBANK

• Brainerd Lakes General Fund of the Brainerd Lakes Area Community Foundation

• Bremer Bank

• Brenny Transportation

• Cambridge Medical Center on behalf of Allina Health System

• Central Minnesota Noon Optimist Club

• Citizens State Bank of Waverly

• CliftonLarsonAllen, LLP

• Clow Stamping Company

• Compeer Financial

• Connexus Energy

• Consolidated Telecommunications Company

• Crow Wing Power

• East Central Energy

• East Central Energy Trust

• Edelweiss Cabinetry

• Falcon National Bank

• Farmers & Merchants State Bank Charitable Fund of the Central Minnesota Community Foundation

• First Bank & Trust

• First National Bank North

• First National Bank of Milaca

• First State Bank of Wyoming

• Frandsen Bank & Trust

Empowering

• Granite Equity Partners, LLC

• Granite Equity Partners Fund of the Initiative Foundation

• Great River Energy

• Harvest Bank

• LINDAR / Avantech

• Little Falls Area Chamber of Commerce

• Long Prairie Packing Company

• Marco Technologies, LLC

• McDowall Company

• Mille Lacs Energy Cooperative

• MINPACK, Inc.

• Monroy Law Office, PLLC

• Neighborhood National Bank

• NOR-SON, Inc.

• Park Industries, Inc.

• Pequot Tool & MFG., Inc.

• Pine Country Bank

• Schlagel, Inc.

• Schlenner Wenner & Co.

• Sherburne State Banks & Sentry Banks

• Sourcewell

• St. Cloud Hospital / CentraCare Health System

• Stearns Bank NA

• Stearns Electric Association

• The Bank of Elk River

• Todd-Wadena Electric Cooperative

• U.S. Bank Foundation

• Wadena State Bank

• West Central Telephone Association

• Widseth Smith Nolting and Associates, Inc.

• Wyoming Machine, Inc.

Individuals

• Anonymous

• Rick & Helga Bauerly Family Fund of Central Minnesota

• Community Foundation

• John E. Babcock

• Dick & Mimi Bitzan Family Fund of Central Minnesota Community Foundation

• Michael & Kathleen Burton

• Lynn & Darren Bushinger

• Linda Eich DesJardins & Joseph DesJardins

• Don & Deanna Engen

• Kathy & Neal Gaalswyk

• Lee & Jan Hanson

• Don Hickman & Sandra Kaplan

• Jo & Larry Korf

• Martin Paradeis

• Philip & Susan Prosapio

• John & Bonnie Schlagel

• Steve & Leila Shurts

• Kimberly & Denise Slipy

• Rita and Everett Sobania

• Charlotte Stephens

• Tim & Carrie Tripp

• Maggie & Matt Varilek

• Ludmila Voelker

• Gene & Bernie Waldorf

• Kristi Westbrock & Mike Bjerkness

• Jeff & Laurie Wig

GRANT AWARD HIGHLIGHTS

The Initiative Foundation awarded more than $1.9 million in 2019 through 448 grants to close opportunity gaps and increase the economic and social well-being of our region. For a comprehensive listing of grant awards, including crucial Partner Fund grants and scholarship awards, visit ifound.org/community/grants

• A Place for You, Pine City

• Amherst H. Wilder Foundation, St. Paul

• Anderson Center, St. Cloud

• Anishinabe Legal Services, Inc., Cass Lake

• Avivo, St. Cloud

• Bicycle Alliance of Minnesota, Minneapolis

• Blandin Foundation, Grand Rapids

• Boys & Girls Club of the Leech Lake Area, Cass Lake

• Brainerd Lakes Area Chamber of Commerce Education Association

• Brainerd Lakes Area Economic Development Corporation

• Bridges of Hope, Brainerd

• Buffalo-Hanover-Montrose School District

• Cambridge Isanti School District

• Cass County Economic Development Corporation, Walker

• Catholic Charities of the Diocese of St. Cloud

• Central Lakes College, Brainerd

• Central Minnesota Jobs and Training Services, Inc., Monticello

• Central Minnesota Housing Partnership, St. Cloud

• Chisago County Economic Development Authority, North Branch

• Citizens League, St. Paul

• City of Becker

• City of Little Falls

• City of Monticello

• City of Osakis

• CommunityGiving, Willmar

• Confidence Learning Center, East Gull Lake

• Cuyuna Range Youth Center, Crosby

• Dreams United/Sueños Unidos, Long Prairie

• Economic Development Partnership of Wright County, Rockford

• Enterprise Minnesota, Inc., Minneapolis

• Faith in Action in Sherburne County, Becker

• Family Pathways, North Branch

• Foundation for Essential Needs, Minneapolis

• Goodwill Industries, Inc., St. Paul

• Great River Family Promise, Elk River

• Greater Minnesota Worker Center, St. Cloud

• Greater St. Cloud Development Corporation

• Hands Across the World, St. Cloud

• Healing Opportunity Provided Equally, Aitkin

• Heritage Group North, Inc., Pine River

• Kanabec County, Mora

• Lakes & Pines Community Action Council, Inc., Mora

• Lakes Area Senior Activity Center, Brainerd

• LEAP, Inc., Staples

• Leech Lake Band of Ojibwe Reservation Business Committee, Cass Lake

• Local Education & Activities Foundation, St. Cloud

• Milestones, Waite Park

• Minnesota Association for Volunteer Administration, St. Paul

• Minnesota Chamber Foundation, St. Paul

• Minnesota Council of Nonprofits, St. Paul

• Minnesota Council on Foundations, Minneapolis

• National Loon Center Foundation, Crosslake

• New Pathways, Inc., Cambridge

• Northeast Entrepreneur Fund, Inc., Little Falls

• Open Doors For Youth, Elk River

• Promise Neighborhood of Central Minnesota, St. Cloud

• Region Five Development Commission, Staples

• Rise Incorporated, St. Cloud

• Rural Renewable Energy Alliance, Pine River

• St. Cloud Area Chamber of Commerce Foundation

• St. Cloud Area School District

• St. Cloud Rotary Foundation

• St. Cloud State University

• St. Cloud State University Foundation

• Sauk Rapids-Rice School District

• Sherburne County, Elk River

• Sourcewell, Staples

• Sprout, LLC, Little Falls

• Staples Economic Development Authority

• Terebinth Refuge, Waite Park

• Todd County Development Corporation, Long Prairie

• Tri-County Action Program, Inc., Waite Park

• True Friends, Annandale

• Tusen Tack, Braham

• United Way of Central Minnesota, St. Cloud

• WACOSA, Waite Park

• Wellness in the Woods, Inc., Eagle Bend

• Wright County, Buffalo

• Wright County Community Action, Inc., Maple Lake

• Wright County Regional Inspection Coalition, Annandale

• Yes Network, St. Cloud

A grant to WACOSA, a Waite Park-based nonprofit that provides services to people with disabilities, helped Alex Gans land a job at National Vision in St. Cloud. Alex (center) is pictured with his dad (left) and job coach Chad Alred during a weekly visit to Best Burger, where Alex picks up the tab.

Note: Out-of-region grants to lake associations and water districts are supported by the Lessard-Sams Outdoor Heritage Council, which awarded $4 million to the Initiative Foundation in 2014 to champion a statewide aquatic invasive species prevention and mitigation program. Duplicates as a result of one or more grants to the same entity have been removed. For complete grant award listings and descriptions, visit ifound.org/community/grants.

The Initiative Foundation is certified as a Community Development Financial Institution by the U.S. Department of the Treasury and proudly bears certification from the U.S. Small Business Administration as a Community Advantage Lender. The Foundation meets rigorous national standards established by the Council on Foundations, has attained the highest four-star rating on financial health, accountability and transparency from Charity Navigator and is recognized for meeting standards for accountability and openness through the Charities Review Council.

OUR PARTNER FUNDS

The Foundation in 2019 hosted 127 Partner Funds with a value of $19.2 million. These funds allow donors to focus on local charitable needs while leaving the administrative tasks to Initiative Foundation staff.

AGENCY FUNDS

• Big Birch Lake Endowment Fund

• Big Fish Lake Association Emergency Fund

• Brainerd Public Schools Foundation Early Childhood Fund

• Bridges Manufacturing Workforce Development Fund

• Central Minnesota CEO Fund, Staples

• Conservancy Fund of Big Fish Lake

• Conservancy Fund of Roosevelt and Lawrence Area Lakes Association

• Conservancy Fund of the Rice Lake Association

• Darling Church Memorial Fund, Morrison County*

• EAA Chapter 551 Fund, St. Cloud*

• Early Childhood Partnership for Isanti County

• Fish Trap Lake Endowment Fund

• Friends of Sherburne National Wildlife Refuge Fund

• Gull Chain Preservation Endowment Fund

• Land and Waters Preservation Trust, Cass & Crow Wing counties

• Minnesota Pioneer Park Endowment Fund, Annandale

• Morrison County Food Shelf Fund*

• Northern Waters Land Trust

– Conservancy Endowment Fund

– Conserved Property Stewardship Fund

– Legal Defense Fund

– Operational Reserve Fund

– Stanback-Bittner Acquisition Fund

• Onamia Early Childhood Endowment Fund

• Partnership in Life Fund (Horizon Health), Pierz

• Paws and Claws Animal Shelter, Hackensack

• Sacred Heart-Knights of Columbus Fund, Staples

• Salem Community Outreach Foundation, Deerwood

• Wadena City Library Endowment*

• Wright County Historical Society Fund

BUSINESS LOAN FUNDS

• Menahga Economic Development Loan Fund

• Princeton Economic Development Loan Fund

• St. Cloud State University Microlending Fund

• Todd-Wadena Economic Development Loan Fund

COMMUNITY FUNDS

• Black Oak Getty Community Foundation, Greater Sauk Centre Area

• Cambridge Area Community Foundation

• Cambridge Area Economic Development Fund*

• Delano Area Community Foundation

• Game Changers, Hackensack Lakes Area*

• Greater Pequot Lakes Community Foundation

• Greater Pine Area Endowment, Pine City

• Hackensack Lakes Area Community Foundation

• Isle Area Community Foundation

• Longville Area Community Foundation

• Morrison County Area Foundation

• Rum River Community Foundation, Milaca Area

• Staples Motley Area Community Foundation

• Three Rivers Community Foundation, Elk River Area

DESIGNATED FUNDS

• CWEPA Fund, Crow Wing County

• Hanowski Family Fund, Little Falls

• Julius and Tracy Kurpius Fund, Staples-Motley Area

• Lake Region Conservation Club, Pierz Area

• Mark Wood Foundation, Little Falls

• Scott & Jane Stuart Memorial Park Fund, Longville

DONOR-ADVISED FUNDS

• Anderson Brothers Family Fund, Brainerd

• Artesian Homes Charitable Fund, Motley

• Betty and Larry Nelson Family Fund, Harris

• Bob and Marsha Bunger Family Endowment Fund

• Central Minnesota Builder’s Association Fund and Initiative, Regional

• Chuck Christian Community Spirit Fund, Elk River

• Edeburn Family Fund, St. Cloud

• Gaalswyk Family Fund, Brainerd

• Granite Equity Partners Fund, St. Cloud

• James and Susan J. Kurpius Family Fund, Staples Area

• Jim & HK Stuart Memorial Fund, Longville

• John and Bonnie Schlagel Endowment, Cambridge

• Josh Richardson Family Fund, Elk River

• Loren & Kathy Morey Family Fund, Staples

• Mel and Jeanette Beaudry Fund, Elk River

• Nancy and Thomas Adams Family Charitable Fund, Pequot Lakes*

• Patrick and Jane Mitchell Family Fund, Cold Spring

• Paula and Chad Becker Fund, Browerville

• Playing it Forward: The Kenneth and Evelyn Pinckney Young Musicians Fund, Little Falls

• Prairie Lights: Pioneering Yesterday and Today, Little Falls

• Shawn Grittner Memorial Fund, Little Falls

EDUCATION FUNDS

• Albany Area Education Foundation

• Becker Education Foundation

• Braham Area Education Foundation

• Cuyuna Lakes Education Foundation, Crosby-Ironton

• Lake Region Christian School Education Foundation, Brainerd

• Little Falls Education Foundation

• Patriot Foundation, Pequot Lakes

• Pillager Education Foundation

• Royalton Education Foundation

• Sauk Rapids-Rice Education Foundation

FIELD OF INTEREST FUNDS

• Cambridge Memorial Hospital Fund

• Chisago Lakes Initiative Fund

• Early Childhood Fund for Morrison County

• Family Farm Fund, Regional

• Housing Fund of the Greater Mora Area

• Innovative Schools Project Fund, Cass, Crow Wing, Morrison, Todd and Wadena counties

• Manufacturing Fund of Central Minnesota, Regional

• The Initiators Fund, Regional

• The Lakes Area Medical Development Fund, Brainerd Area

• Thrive Fund, Sauk Rapids-Rice

• Women’s Leadership Fund, Regional

RELIEF FUNDS

• Cambridge Area Disaster Preparedness and Relief Fund*

• Delano Area Emergency Fund

SCHOLARSHIP FUNDS

• Alternative Sources of Energy Fund, Milaca

• Archie and Isabelle Powell Family Memorial Scholarship Fund, Elk River

• Bachman Engelking Scholarship Fund, Mora

• Bert and Helen LeBlanc Legacy Scholarship Fund, Regional

• Betty Ford Menzel Scholarship Fund, Crosby-Ironton

• Beverly M. Pantzke Scholarship Fund, Little Falls

• Bob and Pauline Johnson Memorial Scholarship Fund, Isle

• Bob Wright Memorial Scholarship Fund, Regional

• Cambridge Memorial Hospital Scholarship Fund

• Dorn Family Fund, Delano

• Fregin Foundation, Little Falls

• H. Eugene Menzel Scholarship Fund, Aitkin

• Holdingford Scholarship Endowment

• Irene Myres Memorial Endowed Scholarship Fund, Pequot Lakes

• Little Falls Scholarship Fund

• Madden’s Pine Beach Scholarship Fund, Pillager

• Minnesota Christian Writers Scholarship Fund, Regional

• Nicholas P. Koenig H.E.R.O. Foundation

• Pillager Scholarship Fund

• Silver Lining Scholarship Fund, Little Falls

• Staples Knights of Columbus Council

#1803-Lloyd & Marion Giddings Scholarship Fund

• William & Ethel Nelson Zimmerman Memorial Scholarship Fund, Royalton

• ZES Scholarship Fund, Zimmerman

SPECIAL PROJECTS

• National Loon Center Project Fund, Crosslake

• Oakland Cemetery Fund, Little Falls

• Sartell DOGPAC Fund

• Veterans Art Monument Fund, Regional

• Veterans Art Monument Fund - Phase II, St. Cloud*

LOANS & EQUITY INVESTMENTS

The Foundation, through partnerships with financial institutions, economic development organizations and local units of government, supported 23 lending clients in 2019 with loans valued at $1.9 million*. The effort leveraged $28.7 million in outside capital and contributed to job creation (101) and job retention (71).

• Aaron’s Total Car Care, Mora

• Baby’s on Broadway, Little Falls

• Barrett Petfood Innovations, Little Falls

• Battery Wholesale, St. Joseph

• Bogart, Pederson & Associates, Becker

• Boone’s Market, Randall

• Browns Produce, Browerville

• El Tequila Mexican Restaurant, Baxter

• Hemmer Companies, Elk River

• Horseed Deli, St. Cloud

• Jill’s Cafe (two loans), Richmond

• J & M Transport, Sauk Rapids

• King Avenue Properties, Elk River

• Lake Superior Laundry, Pine City

• Legacy Place, Sauk Rapids

• Lensing Properties, Lindstrom

• Little Fiesta Restaurant, Little Falls

• Mako Store Company, St. Cloud

• Properties by Lane, Isanti

• Summit Health Partners, Sauk Rapids

• Sunrizon Properties, Sauk Rapids

• Supper & Sounds, St. Cloud

• The Weeping Willow, Lindstrom

Lending Regional Map

Partner Funds Regional Map

With support from an Initiative Foundation loan, Jana Lensing was able to purchase Gustaf’s Up North Gallery in Lindstrom.

* An additional $500,000 in loans were approved in late 2019 and funded in January 2020.

For an historic listing of county-by-county investment and impact, please visit ifound.org/central-minnesota-counties.

Board of Trustees

BOARD OF TRUSTEES

Traci Tapani

Board Chair

Wyoming Machine

Kim Ellingson

Board Vice Chair

Bremer Bank

Brett Anderson

Sentry Bank

Rick Bauerly

Granite Equity Partners

Jessica Bitz

Falcon National Bank

Charles Black Lance

Central Lakes College

Santo Cruz

CentraCare Health

Teri Hoggarth

Edward Jones

David Monroy

Monroy Law Office, PLLC

Joe Nayquonabe Jr.

Mille Lacs Corporate Ventures

Julie Nelson

Mayer, Porter & Nelson, LTD

Tim Nelson Isanti County

Steve Shurts

East Central Energy

Robbyn Wacker

St. Cloud State University

Kristi Westbrock

Consolidated Telecommunications Company

Left to right, back row: Kim Ellingson, Traci Tapani, Santo Cruz, Jessica Bitz, Steve Shurts, Charles Black Lance

Left to right, front row: Kristi Westbrock, David Monroy, Robbyn Wacker, Julie Nelson, Brett Anderson, Rick Bauerly, Joe Nayquonabe Jr. Not pictured: Teri Hoggarth and Tim Nelson.

FOUNDATION STAFF

Jessy Beto

Program Assistant

Kate Bjorge Community Philanthropy Manager

Daniel Bullert Business Finance Manager

Mike Burton External Relations Officer

Lynn Bushinger Chief Financial & Operations Officer, Treasurer

Abdi Daisane Enterprise Academy Program Officer

Chris Fastner Initiators Fellowship Program Manager

LaRae Foehrenbacher Fund Development Associate

Yadira Frey Office & Facilities Coordinator

Brenda Gugglberger Philanthropy Specialist

Don Hickman Vice President for Community & Workforce Development

Barb Larson Accounting Assistant

Laura Larson Program Associate for Entrepreneurship

MaryAnn Lindell Executive Administrator

Bob McClintick

Marketing & Communications Director

Michele Miller Controller

Braden Moore Accounting Manager

Carl Newbanks Grants & Development Manager

Allison Norgren

Marketing & Communications Associate

Robin Skinner Three Rivers Community Foundation Administrative Assistant

Kimberly Slipy Information Systems Administrator

Zach Tabatt Nonprofit Development Specialist

Kerie Thoma Program Associate

Matt Varilek President

Carie Verley Finance Assistant

Jeff Wig Vice President for Entrepreneurship

Initiative Foundation staff members Carie Verley, Jeff Wig and Dan Bullert in September 2019 celebrate the closing of a loan with Fartun Jama, an Enterprise Academy student who is working to bring her fashion business to a larger market.

Staff and board members and several friends of the Foundation enjoyed lunch at Willards in Cambridge, an Initiative Foundation loan partner, during a September 2019 tour of the region.