The Northwest Minnesota Foundation currently administers over 100 separate component funds helping donors maximize their philanthropic resources and meet a wide variety of charitable goals.

For more information on choosing a funding option best suited to your needs please e-mail Ritchie Houge, or call (218) 759-2057 or (800) 659-7859.

The following fund options are available to donors:

1. Contribute to an Existing Fund
   You can make a gift of any size to any of the existing endowment funds at the Foundation to further the charitable work of that particular fund. You might want to add to one of the 100 plus endowments we hold to support local nonprofit agencies. (See Component Fund list or Endowment Donation Form). Or you might want to make a contribution to increase our grantmaking efforts through the NMF General Endowment to benefit programs that NMF administers. (See Recent Grants). Gifts to any existing fund can be made simply and easily.
2. Create a New Endowment Fund
   You can make a lasting difference by creating a new endowment fund with its own name and charitable purposes. All donor advised endowment funds can be created with as little as $10,000. Currently, our distribution policy for endowment funds allows for a 5% annual distribution of the total fund balance for grants and administrative fees, leaving the additional earnings in the fund to protect against the effect of inflation over time. A gift today, or a future bequest, could create several varieties of funds (See Types of NMF Funds)
3. Transfer a Private Foundation
   Over time, a private foundation may become burdensome to its trustees. Paperwork, reporting requirements and administration can be time consuming, while taxes and administrative expenses may be costly and diminish the money available for charity. By transferring a private foundation to a fund at NMF, the reporting and administrative burden is lifted, while the identity and purpose of the private foundation is retained. Family or corporate members can continue to recommend grants if they wish--concentrating on the charitable work, rather than the administration. (See Compare Community Foundations vs. Private Foundations)
4. Create a Supporting Organization
   Have you, your family or company thought about creating a private foundation? You may want to consider the option of a supporting organization associated with the Foundation. This option lets donors set up an organization with the advantages of a private foundation, while receiving public charity tax status. The supporting organization has its own Board and investment program. Tax deductions are based on public charity status, rather than the more prohibitive limitations for private foundations.