Foundation News
July Infinity 2024
July 23, 2024
July 2024
Letter from Elisa - MCF's Impact Program Director
Dear Friends
We are excited to share that last month, in partnership with the Otto Bremer Trust, the Montana Community Foundation (MCF) awarded $1.5 million in grants to Montana organizations through the Otto Bremer Trust Community Responsive Fund. The Otto Bremer Trust selected MCF as a philanthropic partner to administer and distribute grants totaling $1.5 million. These grants range from $10,000 - $75,000 to support Montana organizations that directly respond to immediate challenges and opportunities in the community.
Grants were awarded to organizations with missions or program purposes that address relevant community priorities and align with the following funding priorities - Basic Needs, Community Asset Building, Health and Wellbeing, and Restorative and Emergency Responsive. MCF opened a pre-application for the program in March 2024. We know Montana’s needs are great, yet we were shocked at the response to our requests for proposals. MCF received more than 400 pre-applications, totaling over $21 million in requests from organizations across the state. Seventy organizations were invited to apply, and thirty-six received funding, after review committees made up of experts in the field made recommendations, with final approval from the Otto Bremer Trust.
We are grateful for the Otto Bremer Trust’s confidence in our ability to serve as a philanthropic intermediary partner. This collaboration has enabled us to make substantial strides in supporting Montana organizations that are making a tangible difference in our communities. You can find a complete list of the grantees here.
Together we will create a brighter future for all Montanans. care about. When we all come together to share what we have for future generations, we collectively can do far more than any of us can do alone. What’s your commitment to tomorrow?
Sincerely,
Elisa Fiaschetti
Impact Program Director
Montana Community Foundation Check Presentation to Helena Indian Alliance for the Otto Bremer Trust Community Responsive Fund, July 18, 2024.
Left to right: Kessalyn Clark, HIA Director of Behavioral Health, Katelyn Griepp, HIA Administration Manager, Mary Rutherford, MCF President & CEO, Elisa Fiaschetti, MCF Impact Program Director
More than $1 Million in MCF Scholarships
MCF is proud to announce that we have awarded more than $1 million in scholarships this year to deserving students across our great state, marking the second consecutive year we have achieved this significant milestone. This reflects your unwavering commitment to fostering educational opportunities and nurturing the future leaders of Montana.
This year, the scholarship recipients represent a diverse group of students from various backgrounds, attending a range of institutions including community colleges, universities, and vocational schools. Their chosen fields of study are equally diverse, showcasing the wide array of talents and interests present in our community.
We extend our heartfelt congratulations to all the scholarship recipients and wish them every success in their academic and personal endeavors. We are also deeply grateful to our donors and partners, whose generous contributions make our scholarship program possible.
Learn more about MCF’s scholarship program here.
MCF Summer Board Meeting
MCF held its summer in-person board meeting in Glasgow, Montana on July 12 and 13. MCF board members and staff convened on the Hi-Line to conduct business and review statewide initiatives, such as awarding more than $1 million in scholarships, reviewing the FY22-24 strategic plan and approving and adopting the FY25-27 strategic plan, and expanding the Montana Impact Investing Program in 2025. These programs and more help organizations and communities thrive.
The Valley County Community Foundation, a Local Community Foundation Affiliate of MCF provided an informative panel discussion highlighting the positive impacts their grantmaking has made on Valley County communities. The Fort Peck Theatre Preservation Endowment Fund, another fund held at the Montana Community Foundation, shared their efforts to increase accessible seating for community members at the Fort Peck Theater.
"It’s incredibly inspiring to witness the tangible impact of philanthropy in our local communities," remarked Cami Skinner of Sidney, Board Chair of the Montana Community Foundation. "The Montana Community Foundation plays a crucial role in transforming philanthropic visions into enduring legacies that help communities thrive.”
Learn more about all our board members here.
The Critical Need for a Will – What is your Commitment to Tomorrow?
August is Make A Will Month
By 2030, an estimated $37 billion will transfer from one generation to the next in Montana. By taking the time to create a will, you not only provide for your loved ones but also ensure that the charitable causes you care about are loved beyond your lifetime.
Unfortunately, many people postpone or avoid creating a will altogether. In fact, 70% of Montanans die without a will. Without a will, the state determines how assets are distributed, which may not reflect your values or wishes. This can lead to family disputes during an already challenging time, adding unnecessary stress to grieving loved ones. By creating a will, you maintain control over your legacy and protect your family from potential conflicts.
A will ensures your loved ones are cared for while providing a unique opportunity to leave a legacy through charitable giving. If each Montanan committed just 5% to charitable endowments in their will, an incredible $83 million would be available annually to support Montana charities forever. Imagine the transformational impact this could have on our communities!
By including charitable organizations or causes that matter to you in your will, you create a lasting legacy that continues to support your philanthropic goals for generations. The charitable gift you leave can change lives and inspire future generations.
Additionally, creating a will can help minimize taxes and legal fees, ensuring that your loved ones receive the maximum benefit from your hard work. Thoughtful planning can save your family from financial strain during difficult times, allowing them to focus on what truly matters.
Ultimately, having a will is about peace of mind. It reassures you that your affairs are in order and sets a clear course for the future. It also encourages meaningful conversations with loved ones about your wishes and values.
Regardless of wealth, each of us can leave a legacy. With proper planning, we can provide for those we love while supporting our charities and community. It all starts with a little preparation.
Creating a will protects your legacy, cares for your loved ones, and promotes charitable giving. Start by reaching out to one of Montana’s amazing estate attorneys or by visiting the MSU Extensions website where they have fantastic estate planning resources.
Federal Reserve July 2024 Survey
Businesses today face a multitude of challenges. To help understand these challenges, the Federal Reserve Bank of Minneapolis is partnering with chambers of commerce, economic development associations, and other organizations on a survey of businesses across Ninth District states, including Minnesota, Montana, North Dakota, South Dakota, Wisconsin, and the Upper Peninsula of Michigan.
We invite you to join us in completing this important survey by Monday, July 29, 2024. Your participation and insights are vital to our collective understanding and to shaping policies that support our economic future.
Thank you for your time and contribution.
All responses are confidential. To maintain confidentiality, please do not include any self-identifying information in any comments. If you get this survey from multiple sources, please respond to the survey only once.
The Minneapolis Fed greatly appreciates your time and valuable insight.
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