News Release: McKnight announces $7.2 million grant to Southern Minnesota Initiative Foundation
October 24, 2007 - McKnight has pledged up to $7.2 million to the Southern Minnesota Initiative Foundation over the next five years.
Contact information and related linksThe McKnight Foundation in Minneapolis and the Southern Minnesota Initiative Foundation (SMIF) of Owatonna have extended through 2012 their joint efforts to build vibrant communities, support innovative businesses, and cultivate a skilled workforce in 20 counties in southern Minnesota.McKnight announced a five-year grant of up to $7.2 million at the SMIF's annual Regional Recognition Luncheon today. More than 200 community partners and contributors gathered for the announcement amid celebrations of SMIF's successes over the past year. McKnight's funds will help support SMIF's work to build sustainable communities through grants, programs, and technical assistance; to build the region's economic capacity; and to increase the value of its permanent endowment. "We at McKnight are pleased to continue our partnership with Southern Minnesota Initiative Foundation," said McKnight president Kate Wolford. "For more than 20 years, SMIF has addressed key issues to help build prosperity and vitality throughout this region. We are delighted to contribute to its ongoing creative and productive efforts."Since 1986, McKnight has granted $42 million to SMIF. In turn, SMIF has put more than 90 percent into action in southern Minnesota through business loans and grants to area nonprofits, while building assets of an additional $37 million to ensure a stable financial future for itself and the region. SMIF's staff and partners also provide direct services to the community through convenings, community-based planning, workshops, symposiums, and more.SMIF President Tim Penny shared SMIF's new vision for the future with the luncheon audience. "This organization remains committed to investing in economic growth here in southern Minnesota," he said, noting that SMIF has selected just two key areas of focus: emerging business and emerging workforce. He added, "We believe that by investing in these two areas, our efforts will yield greater and more sustainable results." Penny challenged the audience to help create partnerships that can build a culture of true prosperity.Of the $7.2 million grant total, up to $2.2 million will be paid as a dollar-for-dollar match of other funds raised by SMIF. Penny noted, "McKnight's challenge grant has historically provided a strong incentive for donors to invest in the region through our foundation. We hope that donors will continue to leverage their resources and respond favorably to the dollar-for-dollar match that this challenge grant provides."For more information about investing in Southern Minnesota Initiative Foundation, visit www.smifoundation.org or call 507-455-3215.ABOUT SOUTHERN MINNESOTA INITIATIVE FOUNDATIONSouthern Minnesota Initiative Foundation (SMIF), a donor-supported foundation, invests for economic growth in 20 Minnesota counties. SMIF has provided over $36 million in grants and loans within the region during the past 21 years. SMIF's key interests include early childhood, workforce readiness, and economic development with a focus on emerging bioscience and renewable energy businesses. To learn more about our work and mission call 507-455-3215 or visit www.smifoundation.org. ABOUT THE MCKNIGHT FOUNDATIONThe McKnight Foundation seeks to improve the quality of life for present and future generations through grantmaking, coalition-building, and encouragement of strategic policy reform. Founded in 1953 and independently endowed by William L. McKnight and Maude L. McKnight, the Minnesota-based Foundation has assets of approximately $2.2 billion and granted about $93 million in 2006. Program information and full grant descriptions are available at www.mcknight.org.
Related links
Southern Minnesota Initiative Foundation
Contact information
Tim Hanrahan, Communications Director, 612-333-4220
Contact information and related linksThe McKnight Foundation in Minneapolis and the Southern Minnesota Initiative Foundation (SMIF) of Owatonna have extended through 2012 their joint efforts to build vibrant communities, support innovative businesses, and cultivate a skilled workforce in 20 counties in southern Minnesota.McKnight announced a five-year grant of up to $7.2 million at the SMIF's annual Regional Recognition Luncheon today. More than 200 community partners and contributors gathered for the announcement amid celebrations of SMIF's successes over the past year. McKnight's funds will help support SMIF's work to build sustainable communities through grants, programs, and technical assistance; to build the region's economic capacity; and to increase the value of its permanent endowment. "We at McKnight are pleased to continue our partnership with Southern Minnesota Initiative Foundation," said McKnight president Kate Wolford. "For more than 20 years, SMIF has addressed key issues to help build prosperity and vitality throughout this region. We are delighted to contribute to its ongoing creative and productive efforts."Since 1986, McKnight has granted $42 million to SMIF. In turn, SMIF has put more than 90 percent into action in southern Minnesota through business loans and grants to area nonprofits, while building assets of an additional $37 million to ensure a stable financial future for itself and the region. SMIF's staff and partners also provide direct services to the community through convenings, community-based planning, workshops, symposiums, and more.SMIF President Tim Penny shared SMIF's new vision for the future with the luncheon audience. "This organization remains committed to investing in economic growth here in southern Minnesota," he said, noting that SMIF has selected just two key areas of focus: emerging business and emerging workforce. He added, "We believe that by investing in these two areas, our efforts will yield greater and more sustainable results." Penny challenged the audience to help create partnerships that can build a culture of true prosperity.Of the $7.2 million grant total, up to $2.2 million will be paid as a dollar-for-dollar match of other funds raised by SMIF. Penny noted, "McKnight's challenge grant has historically provided a strong incentive for donors to invest in the region through our foundation. We hope that donors will continue to leverage their resources and respond favorably to the dollar-for-dollar match that this challenge grant provides."For more information about investing in Southern Minnesota Initiative Foundation, visit www.smifoundation.org or call 507-455-3215.ABOUT SOUTHERN MINNESOTA INITIATIVE FOUNDATIONSouthern Minnesota Initiative Foundation (SMIF), a donor-supported foundation, invests for economic growth in 20 Minnesota counties. SMIF has provided over $36 million in grants and loans within the region during the past 21 years. SMIF's key interests include early childhood, workforce readiness, and economic development with a focus on emerging bioscience and renewable energy businesses. To learn more about our work and mission call 507-455-3215 or visit www.smifoundation.org. ABOUT THE MCKNIGHT FOUNDATIONThe McKnight Foundation seeks to improve the quality of life for present and future generations through grantmaking, coalition-building, and encouragement of strategic policy reform. Founded in 1953 and independently endowed by William L. McKnight and Maude L. McKnight, the Minnesota-based Foundation has assets of approximately $2.2 billion and granted about $93 million in 2006. Program information and full grant descriptions are available at www.mcknight.org.
Related links
Southern Minnesota Initiative Foundation
Contact information
Tim Hanrahan, Communications Director, 612-333-4220