Austin Area Foundation receives $400,000 gift
The Austin Area Foundation announced Thursday, it received a major gift of $400,000 from a member of the community who created a Donor Advised Fund.
The gift will be used to benefit nonprofit organizations in Mower County and distributions will be directed by the donor who wishes to remain anonymous.
“This is a great milestone for Austin Area Foundation and shows the dedicated effort of our board — past and present — to provide a community foundation that supports philanthropic plans that will positively impact and benefit the people of Austin now and into the future,” said Steve Barrett, executive director of the AAF. “This is the largest gift given in our history and we are excited as it allows us to further our mission.”
Austin Area Foundation currently has 26 endowed funds, along with 7 non-endowed funds. These funds include several Donor Advised Funds and family funds, as well as funds which provide long-term support for some of Austin’s most valued institutions including the Austin Symphony, Austin Area Arts, Austin Dog Park, the YMCA, KSMQ, Veterans Memorial, IJ Holton/The Hormel Institute, Jay C Hormel Nature Center, Pheasants Forever, Friends of the Public Library, Mower County Agricultural Society, Mower County Historical Society, Welcome Center, Parenting Resource Center and more.
Austin Area Foundation’s mission is to enhance the community through charitable giving and is governed by a volunteer Board of Directors. Founded in 2003, AAF established a growing legacy fund as a way for area residents to give a gift that – through perpetual earnings – keeps on giving.
AAF thanks The Hormel Foundation for its support helping establish Austin Area Foundation, inspiring philanthropic giving from the community.
Funding will aid in research of small cell lung cancer The Hormel Institute (HI) announced that Dr. Luke Hoeppner,... read more