Austin Area Foundation receives major gift
Published 8:53 am Tuesday, July 19, 2022
Austin Area Foundation received a major gift from the estate of Annabell Benson, a former Austin area teacher. The gift will expand the ability of the AAF to carry out its mission to enhance the community through charitable giving.
The amount of the gift was not released, but Tuesday’s press release indicated that half of the bequest was directed to the Austin Legacy Endowment Fund. This AAF fund has provided resources to award grants to assist Austin-based nonprofit organizations.
Since its inception, the Austin Legacy Endowment Fund has distributed over $250,000 to its partner organizations. This gift will allow AAF to add an additional $8,000 to its annual distributions through the Austin Legacy Endowment Fund.
AAF’s Austin Legacy Endowment Fund recently awarded grants to 24 local nonprofit organizations including Austin Area Arts, Austin Symphony Orchestra, Catherwood Home Child Care, Hormel Historic Home, Mower County Historical Society, Parenting Resource Center, Hot Meals on Wheels, Matchbox Children’s Theatre, and more.
The other half of the bequest was dedicated to the general fund of the Austin Area Foundation. The Board of Trustees of the AAF is currently considering how to best utilize those funds to sustain and grow the AAF’s impact and benefit to the community.
“Austin Area Foundation is very grateful for this generous donation we received,” said Taggert Medgaarden, Chair of the AAF Board of Trustees. “These assets will make a significant impact on people of all ages in the Austin community and surrounding areas.”