8. EDSR 10-10-2011 - Laserfiche WebLink

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.. ~ COPY Initiative ~ Minnesota Initiative ~~ FOUNDATION Foundations ~~ www.ifound.org ®~~ ~ ~ - ~~~~~ July 29, 2011 Catherine Mehelich Elk River EDA 13065 Orono Pkwy Elk River, MN 55330-5600 Dear EDA Director and members of the Elk River EDA City Council, We appreciate knowing that the Elk River EDA has made significant financial investments in the Initiative Foundation since 1989. Thank you so much. Together with 14 counties and more than 100 cities, you have helped to build a local foundation that creates economic motion for businesses and families. Today, I am writing to ask for your renewed support in 2012. With budgeting decisions becoming tougher, many elected leaders have asked us, "1Vhy ~~hould localgovernment invest in a foundation?" It's a fair question with a straightforward answer: 1) Economic development; and 2) Return on investment. The "Great Recession" assaulted Central Minnesota, and we are responding by focusing our resources on economic growth and recovery. We are working to enhance quality of life and local government effectiveness through grants and citizen engagement, and we are creating quality jobs through loans to locally owned businesses. An investment in the Initiative Foundation also provides a measurable "ROL" In Sherburne County, every donated dollar returns an average of $5.49 in local grants, loans and scholarships. The following is a 25-year snapshot of the results achieved in your county: • 232 grants totaling $971,380 • 39 loans totaling $2,510,000 • Created or retained 380 jobs To help the Foundation address post-recession needs and opportunities, we respectfully request an annual endowment contribution of $2,500 in 2012. As always, your investment will be matched dollar for dollar by The McKnight Foundation. Your contribution will enable us to steadily award more job-creating loans and grants, deepen public-private partnerships, build aworld-class workforce, strengthen nonprofit safety nets, and enhance environmental and recreational amenities that support families and business growth. We are your foundation. We exist only to serve your community. If there is anything we can do for you, please don't hesitate to call on us. All the best, j%~~G~ Matt Kilian Vice President for External Relations 405 First St. SE Little Falls, MN 56345 320.632.9255 EqualOpportunityLender, Provider and Employer