NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT:
Bethany Wesley, Communications Director
Email: bethanyw@nwmf.org
November 8, 2023 (Bemidji, MN) – More than $780,000 was loaned or granted out into the region from July through September through the Northwest Minnesota Foundation. This three-month timeframe comprises the first quarter of NMF’s fiscal year.
Dollars released by NMF included more than $340,000 through NMF’s mission-driven grants programs, more than $290,000 awarded by local funds within NMF’s family of funds, and $156,000 through loans to small business owners.
Additionally, the Northwest Small Business Development Center, for which NMF serves as host, provided 759 hours of no-cost business consulting hours to 149 clients throughout the region.
The Northwest Minnesota region served by NMF includes two tribal nations (Red Lake Nation and White Earth Nation) and 12 counties (Beltrami, Clearwater, Hubbard, Kittson, Lake of the Woods, Mahnomen, Marshall, Norman, Pennington, Polk, Red Lake, and Roseau).
Mission-driven grants
Through mission-driven grants, NMF approved 9 grants totaling $341,250.
Grants approved include:
- a $250,000 grant to support a construction project that supports a business incubator and arts space.
- 3 grants totaling $35,000 to address an emergent housing situation.
- a $32,000 grant to support the opening of a child care center.
- a $20,000 grant to support addiction recovery services
- 3 other grants totaling $4,250 for various purposes, including training and education at a medical facility.
Family of Funds
Through 112 grants approved by local funds, $290,606 was dispersed into Northwest Minnesota. NMF houses more than 400 funds within its family of funds, including community funds, donor-advised funds, education funds, scholarship funds, and others. Each fund has its own purpose.
Grants dispersed through these funds included:
- 16 grants, totaling $55,545, through local community funds.
- 11 grants, $51,804, through community service funds (benefiting local efforts such as senior living, animal shelters, service organizations, churches, and homeless shelters).
- 27 grants, $50,500, from donor-advised funds, benefitting nonprofits that fit the donors’ interests.
- 21 grants, $40,935, from cultural funds, supporting local music, theater, and arts projects.
- 17 grants, $34,970, through education funds.
- 8 grants, $22,451, through health care funds.
- 7 scholarships totaling $8,500.
- 5 grants, $25,900, through environmental and recreation funds
Business Loans
In this time period, NMF approved eight loans to six businesses, totaling $156,000.
These loans included:
- 2 forgivable child care loans to businesses in Norman and Red Lake counties with funding through the Minnesota Department of Employment and Economic Development (DEED).
- 4 microloans to businesses in Beltrami and Clearwater counties within funding through the Small Business Administration.
- 1 loan to a business in Beltrami County with funding through the DEED Emerging Entrepreneur Program.
- 1 loan to a business in Clearwater County with NMF funding.
