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