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Northwest Minnesota Foundation Issues $780,000 in Grants and Loans during 1St Quarter
Foundation: Northwest Minnesota Foundation
From July through September, more than $780,000 was loaned or granted out into a region in northwest Minnesota through the Northwest Minnesota Foundation, the Bemidji Pioneer reports.
Funds released by the foundation included $156,000 through loans to small business owners; $290,606 through local funds, such as community funds, donor-advised funds, education funds, and scholarship funds; and $341,250 through NMF's mission-driven grant programs.
The Northwest Minnesota Development Center, hosted by NMF, provided 759 hours of no-cost business consulting hours to 149 clients in this same timeframe.
Grants disbursed through these funds included:16 grants, totaling $55,545, through local community funds.11 grants, $51,804, through community service funds (benefiting local efforts such as senior living, animal shelters, service organizations, churches, and homeless shelters).27 grants, $50,500, from donor-advised funds, benefitting nonprofits that fit the donors' interests.
The Northwest Minnesota region served by NMF includes Red Lake and White Earth Nation and Beltrami, Clearwater, Hubbard, Kittson, Lake of the Woods, Mahnomen, Marshall, Norman, Pennington, Polk, Red Lake, and Roseau Counties.
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