Saint Paul & Minnesota Foundation
United Way of Northeastern Minnesota has one of the largest geographical service areas of all United Ways in the nation, serving individuals from just north of Duluth to the Canadian border.
The organization has taken many steps to thrive. After opening an endowment fund with a large gift from a donor, the organization has cultivated its board, focused on planned giving strategies, cultivated younger donors, and reinvested the earnings income.
“When our organization received a very large, unexpected gift from a local individual in 1998, the board saw an opportunity to build,” said Executive Director Erin Shay. “Instead of putting such a large gift to use in one year, our board of directors wanted to see those dollars work forever, so they opened an endowment called the Forever Fund.”
Thanks to support from the Saint Paul & Minnesota Foundation's Endowment team, this organization now has guidance and best practice ideas to grow.
Erin believes, “it's helpful to have an organization like that behind you, where your dollars are invested, with another nonprofit that shares its same values and commitment to community."
Read the entire article or learn more about the Forever Fund.