Minot N.D. – The Minot Community Endowment Fund awarded a total of $62,000 to 16 local nonprofit organizations last week, gathering at the Scandinavian Heritage Center. Norsk Høstfest Association was one of these 16 nonprofits that received a check from the Minot Community Endowment Fund. The Norsk Høstfest Association plans to use this endowment to enhance the event and give the whole community a taste of true Scandinavian Heritage.
The Minot Community Endowment Fund was established in 1981 by a grant from the Otto Bremer Trust and is a permanent part of the North Dakota Community Foundation, which provides professional management of the fund. The fund is governed locally by an Advisory Committee, made up of volunteers from various service clubs in Minot. The Committee recommends grants annually and conducts activities to help increase the fund and the total amount available to grant.
Currently, the endowment fund has approximately $1.7 million in assets, thanks in part to two generous estate gifts from T.A. and Anna Solheim, and Charles and Madge Westlie. All gifts to the fund are pooled and invested, and only a portion of the earnings are used to grant back to the community each year. As the fund grows, so does the annual grantable amount. Therefore, the community has a strong financial resource to support the nonprofit sector and the changing needs of the community forever. For more information, or to make a contribution, please visit www.NDCF.net/Minot.