Fairmont Area Foundation


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History of the Fairmont Area Foundation

Founding Directors
L. P. McCoun
Michael Garry
Greg Hilgendorf
Jim Hongslo
Mary Don Kislingbury
Richard Paulson
Ken Scott
Robert VanDeRiet


1991
In the spring of 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 Foundation for administrative assistance and fund management.

Businesses were receptive to an organization using a community endowment fund. They are always being asked for money but this would be a one-time donation. This is an opportunity for people to give back to the community where they live and work. Local government, funded by taxes, cannot do all the things the foundation can. The foundation can help improve the quality of live here. Grants are given to non-profit groups and organizations for new or existing projects to improve quality of life in our community.

1992
A formal Board of Directors was established with assets of $200,000 at the end of 1992. They began work on local policy and by-laws.

1994
The first grants from earnings were awarded. A grant for $1,000 was awarded to the senior housing project and $5,000 was awarded for playground equipment at Gomsrud Park. The board set a goal of reaching $1,000,000 in assets for the year 2000.

1995
The financial statement for 1995 showed assets of $457,555.

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

1998
By 1998 the Fairmont Community Foundation was so successful it was reaching out to neighboring communities. Total grants of $52,786 were awarded from earnings. (Recipients of the 1998 grants were the Fairmont Fire Department for purchase of equipment that lets fire fighters see in smoky rooms; Upward Bound, and organization that aids disabled persons; the Fairmont Soccer Association; the Martin County Genealogical Society; and the Martin County Humane Society. The foundation has also helped the Fairmont Hockey Association, retirement homes in Truman and Fairmont, the Salavation Army and the Aerospace Museum in Sherburn. Support was provided for two hospice rooms at the Fairmont Community Hospital, and help was given for the purchase of equipment for a disc golf course and area playgrounds.)

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

2001
Fund balance: $1,003,626

Fairmont Area Foundation
PO Box 704
Fairmont, MN 56031
P (507) 235-5547
F (507) 235-8841

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