Freeborn County Communities Foundation

About The Freeborn County Communities Foundation The Freeborn County Communities Foundation provides members of the public interested in donating to and creating a lasting legacy for the Freeborn County community a vehicle for accepting charitable, tax exempt gifts and, through the actions of the Board, approving grants to projects and organizations seeking to improve the lives of Freeborn County residents.

The Freeborn County Communities Foundation is governed by a local Board of Directors and is charged with the responsibility of seeking additional donors, administering funds under the legal umbrella of the Minnesota Community Foundation, and setting grant making priorities in accordance with our area’s needs. Grants are made to qualified non-profit entities that promote the social, cultural, health, civic, educational, environmental, and other philanthropic activities of freeborn County residents.

The Freeborn County Community Foundation is affiliated with the Minnesota Community Foundation, and receives its tax exempt status from the Minnesota Community Foundation. Funds held by Freeborn County Community Foundation are invested through the Minnesota Community Foundation, giving the local entity access to the larger investment markets available to large foundations which improves the return on the Freeborn County Community Foundation managed funds. The Foundation has provided grants for the Albert Lea Public Library to assist in funding a designated young adult focused area in the library, for District 241 Community Education to assist in the development and construction of a Community Boathouse for the Experiential Education Program on Fountain Lake, and for an AmeriCorp Promise Fellow program in the Middle School of School District 241, serving Albert Lea, a program providing support and leadership training for at risk youth.

Our Goal The goal of the FCCF is to expand its financial base so that grants may be more meaningful and have a greater impact on the community and to help create a way for the public to make donations to a long term community oriented charity that will live into the distant future. The Board of directors has adopted as its goal the granting of funds, as available, with a target of 5% of fund balance each year. This means that a donation of $100.00 in 2009 will create a permanent source of funding and allow $5.00 to be granted each year for an indefinite period. This philosophy also incorporates growth in the fund balance to account for the effects of inflation so that the grants created by today’s donations will grow and continue to have the same impact in the future.

In cooperation with the Minnesota Community Foundation, the Freeborn County Community Foundation will pursue opportunities to match local gifts with broader statewide matching grants from major contributors, thus expanding the capabilities of the FCCF.