June 2007 - John Ostrem, president of the Northwest Minnesota Foundation since 2000, has announced that he is retiring, effective January 1, 2008.

"I have been contemplating retirement for some time, discussed it with the board and we agreed that this is a good stage in the organization's development for a smooth transition to a new president," Ostrem said. "Next year, the foundation will implement a new five-year strategic plan with a new leader, possessing the vision and energy needed to take the organization to the next level."

"I am honored to have taken part in the growth of the foundation, working with its dedicated board and staff and partnering with people from throughout northwest Minnesota," Ostrem added. "I am looking forward to the next stage, enjoying family and personal time after a very rewarding career."

According to Eric Bergeson, NMF board chair, the foundation's assets and community foundation role greatly expanded under Ostrem's leadership. "He was instrumental in creating the foundation's Quality of Place concept and assuring the success of the Ingenuity Frontier regional economic development strategy," Bergeson said. "We are grateful to John for his role in helping to make northwest Minnesota a great place to live and work."

Ostrem will remain on staff as president while the board conducts a national search for his successor. More information is available on the foundation's website (www.nwmf.org).

The Northwest Minnesota Foundation is a public charitable community foundation that invests resources, creates opportunities and promotes philanthropy to make the region a better place to live and work.