Upholding Our Commitment to Our Partners
Mr. Blandin required that the Ramsey County District Court review the accounts of the Residuary Trust. Every three years, the Residuary Trust reviews its accounts and disbursements before a judge. The next court review is slated for 2018.
In 2003, the court appointed a Special Master with legal and accounting expertise to verify that the Foundation is dedicating at least 55 percent of grantmaking in its home communities of the Grand Rapids area. This was the latest in a series of court actions that have assisted the Foundation in its service to Itasca area communities and rural Minnesota. A series of reports have been prepared by the Foundation and the Special Master as part of this commitment.
At the April 21, 2015 hearing, the court concluded that the Foundation and Trust, with guidance from the Special Master, has developed a robust system for reporting on its activities, and verifying that reporting by an external auditor. On April 28, 2015, the court discharged the special master, and approved the transition to the independent self-reporting system. In addition, the Foundation will now distribute 60 percent of its grantmaking in its home communities.
2018 – Order for hearing Residuary Trust accounts October 15, 2018
2016 – Independent self-reporting process
2015 – Order discharging Special Master, approving independent self-reporting process, and establishing local grantmaking at 60 percent
2015 – Order approving accounts for 2009-2011
2015 – Foundation statement of appreciation to Special Master Ulmen
2015 – Petition to discharge special master and approve verified self-reporting process submitted to Ramsey County district court for consideration at April 21 hearing
2007 – Amended order appointing special master
2004 – Order appointing special master
2003 – Stipulation and order setting 55 percent grantmaking in Itasca area
2000 – Order affirming the Grand Rapids area as the Foundation’s perpetual and primary focus
1990 – Order reflecting growth in assets and scope