The Hormel Foundation to give $6.1M in ‘14Published 11:19am Monday, December 9, 2013
Thanks to increased dividends from Hormel Foods Corp., The Hormel Foundation will give more than $6.1 million to about 28 Austin-area organizations in 2014.
“With strong communities, you need to invest in the future, education, infrastructure, and caring for the need,” said Gary Ray, chairman of the foundation.
The Hormel Institute continues to be the foundation’s largest beneficiary. Institute officials are working to break ground on a new expansion by next May.
“We are excited to break ground in May 2014 for the next major expansion of The Hormel Institute,” Ray said. “The Hormel Foundation has committed $23.5 million towards this expansion, which includes not only the building but the recruitment of scientists to fill the labs. The Hormel Foundation looks forward to continuing to provide substantial support for the Institute’s incredible growth and success.”
The $27-million expansion plans will add at least 15 new labs to The Institute and bring more than 100 new jobs to the area.
Many organizations are supported by the foundation and represented on its board of directors. They include the Austin Area Foundation; Austin Community Scholarship Committee; Austin Public Schools, Cedar Valley Services Inc.; City of Austin; Mayo Clinic Health System — Austin; the Salvation Army; The Hormel Institute; United Way of Mower County; and YMCA of Austin.
Through 2013 contributions, The Hormel Foundation has given $98 million to the Austin area since the foundation’s inception in 1941.
About $64 million has been distributed since 2000. That amount does not include the foundation’s $16.7 million contribution to The Hormel Institute’s nearly $24 million expansion/renovation project completed in 2008 nor the $3 million, 17,000-square-foot childcare center next to Riverland Community College’s west campus facility, which opened in June of this year.
Established by Hormel Foods founder George A. Hormel and his son, Jay C. Hormel, one of The Hormel Foundation’s purposes is to serve as a charitable organization to benefit the Austin community. Its first contribution in 1941 was for $10, and its annual contributions to the community have grown over the years.
The foundation ranks fifth in annual giving among Minnesota’s largest community/public foundations and public charity grant makers, with those in the lead located in the Twin Cities, according to the Minnesota Council on Foundations. The Hormel Foundation’s annual giving is significantly higher than contributions made by foundations in some of Minnesota’s largest cities.
The Hormel Foundation was recognized as the 2013 Outstanding Philanthropic Organization at the Association of Fundraising Professionals Southern Minnesota Chapter in Rochester in November.
The Hormel Foundation’s contributions are a direct result from the dividend increases of Hormel Foods common stock – the Foundation’s main asset.
“Hormel Foods Corp.’s continuing success and growth directly leads to significant, yearly contributions that benefit our community in many ways through The Hormel Foundation,” Ray said. ““We can all be very grateful for the vision and philanthropy of George A. and Jay C. Hormel in establishing the foundation in a way that provides support to important, meaningful programs locally.”
The Hormel Foundation also is providing significant support to Austin’s new Vision 2020 initiative, which is focused on improving the city in different ways.
“Vision 2020 is a community initiative in which The Hormel Foundation is proud to be a major supporter,” Ray said. “The 10 committees, formed in the spring 2012, are making progress as we all look forward to building a better community for everyone.”
The Hormel Foundation’s list of organizations receiving donations in 2014:
•Austin Area Foundation
•Austin Community •Scholarship Committee
•Austin Public Schools
•Cedar Valley Services, Inc.
•City of Austin — Fire •Prevention and Education
•City of Austin — AMCAT Dialysis Route
•City of Austin — Austin Public Library
•City of Austin — Nature Center
•City of Austin — Senior Center
•City of Austin — Main Street Project
•Mayo Clinic Health System — Austin
•Riverland Community College
•The Hormel Institute
•The Salvation Army
•The United Way of Mower County
•United Way of Mower County — Apple Lane Community Child Care Center
•United Way of Mower County — Children’s Dental Services
•United Way of Mower County — Girl Scouts
•United Way of Mower County — Boy Scouts
•United Way of Mower County — Hormel Historic Home
•United Way of Mower County — Mower Council for the Handicapped
•United Way of Mower County — Mower County Seniors
•United Way of Mower County — Parenting Resource Center
•United Way of Mower County —The Arc of Mower County
•United Way of Mower County — Wapiti Meadows
•United Way of Mower County — Welcome Center
•United Way of Mower County — Workforce Development, Inc
•YMCA of Austin