As the Spirit of Giving is upon us during the holiday season, thoughts turn to "How can I help?" We see the Salvation Army volunteers ringing bells, we see cash donations go in the bucket. We are asked to give to places like the Humane Society to help feed the animals in the shelters. In this day and age, there are a lot of needs, so it is hard to know where to donate when we have a few extra dollars. Well, I was approached by the Wanamingo Community Foundation to bring attention to the Wanamingo Endowment Fund, and after hearing what members of the committee had to say, I understand how important it is to "give locally" to projects that will benefit a lot of people in our hometown.
When I am asked to do a story on any given subject, my first go to is to research the material I need to tell you about. I went to a few places in town and asked "What do you know about the Endowment Fund?" and I got mostly blank stares, so this is an important topic! The Wanamingo Community Foundation is made up of a committee of local residents who work with Southern Minnesota Initiative Fund (SMIF) to give tax exempt status to donations for community member led projects.
The Southern Minnesota Initiative began in 1986, and the current Executive Director is Tim Penny. The group was formed to collaborate for regional vitality. SMIF is a non-profit, non-governmental, 501(c)(3) program that helps towns like us by giving tax exempt status to money donated for investment in our community. Under their blanket, the Wanamingo Community Foundation is a pass through for local projects. The principal on the Endowment Fund is never touched. Therefore, the more money that goes into the principal, the more interest is earned for the city. The key initiatives of SMIF are entrepreneurship, early childhood development, and community vitality. In other words, Wanamingo Community Foundation deposits the money from charitable donations with SMIF, and they invest the money to help it grow. What this means to our community is that we are using donations, grants, and endowment fund earnings to pay for community led and supported projects. SMIF also has grant and matching incentives available.
Many of you are aware of local projects like the walking trail, ball field improvements, veteran's memorial, pool improvements, Riverside Park volleyball courts, and the community center; but have you ever wondered how those came about? Wanamingo began their collaboration with SMIF in 1991. Gary Bakko took the helm of a group of eight. He and Patty Prigge are the only remaining members of that group. Gary has decided to step down from the presidency and Patty has assumed the title. Along with the reorganization, it was decided that although project led focus has been successful it was time to emphasize the endowment fund. An endowment fund allows a foundation to continue their great work for generations to come. The donor’s gift keeps giving since the principal is invested and the interest earned is used to support the community foundation’s mission. Our mission, since 1991, “Today’s investment builds tomorrow’s community”. In addition to Bakko and Prigge, current board members include: Susie Beulke, Vice President; Michael Boulton, Secretary; Larry VanDeWalker, Treasurer; Laurie Greseth; Connie Anderson; Brent Leininger; Jennifer Ohr; Barney Nesseth; Jason Benson; and Andrea Wallaker. Now, out of this list, I can bet most of you know who most of them are! A big thank you to all 12 who volunteer to make our community a better place to live!
Currently the Wanamingo Community Foundation has almost $30,000.00 in its endowment fund, which is earning interest as we speak. The Foundation is preparing to add to this principal amount by asking for donations, large or small to be added to this amount. Money can be donated specifically to a project or directly to the endowment fund. One of the current projects is a Pickle Ball Court here in Wanamingo. The Lion’s Club and individual donors have already raised $7,000.00!
The board members are gearing up for Give to the Max Day by printing and mailing 2,000 flyers about their work in our community, in the hopes that people will see what is happening and decide to donate. They are asking anyone who feels called to help with this huge endeavor to show up on Thursday, November 14th, at 6 o’clock or later, in the Community Center to help address and stamp the flyers, and have some fun doing it! Many hands make these kinds of tasks easier! Also, if you know of any alumni, past residents that keep Wanamingo close to their hearts, or any businesses that need a tax deductible donation for the year, please bring their names and contact info to the meeting, and we will be sure they get a flyer.
To learn more about the Southern Minnesota Iniative Fund, go to smifoundation.org. To learn more about the endowment fund and other projects under the Wanamingo Foundation umbrella, go to their website wanamingofoundation.org. If you want to make sure you or someone you know gets the information being sent out, come down to the meeting on November 14th, and they will be there doing the mailings from 6 pm to 10 pm. It takes a community, folks! Hope to see you there!
