History of the Fairmont Area Foundation

1991 - Local businessmen met to hear details of a proposal for a matching grant of $1 for every $2 from the community. The donations would become part of a $100,000 matching fund drive offered through Mickelson Media Foundation. Just a month after the proposal, an agreement was signed with the Minnesota Community Foundation for administrative assistance and fund management.

1992 - A Board of Directors was established with assets of $200,000. Work began on local policy and by-laws.

1994 - The first grants from earnings were awarded. The Board set a goal of reaching $1,000,000 in assets by the year 2000.

1996 - On April 5th the Circle of Legacy was adopted. The legacy provides the opportunity for planned giving to the Foundation.

1998 - Total grants of $52,786 were awarded from earnings.

2000 - Since inception, over 25 people have provided volunteer time on the Board of Directors and over $1,000,000 has been received from donations and investors, helping us toward reaching our goal.

2004 - Vision for the Future campaign initiated. Goal to raise $250,000 in new investments over the next three years, allowing us to reach our goal of exceeding $1,500,000 in total fund balances by December 2006.

2005 - Fairmont Area Foundation was recognized by the Minnesota Community Foundation for reaching a fund balance of $1,000,000. In honor of this milestone, the Foundation was presented with a tree which was planted at Heritage Acres.

2006 - Fund balance reaches $1,500,000.

2007 - 1st Annual "Fairmont Area Foundation 500" fundraising event held, raising over $35,000 for the endowment fund.

2008 - 2nd Annual Fairmont Area Foundation 500 held raising another $18,000 for the endowment fund.