Court to conduct tri-annual review of Blandin Trust
GRAND RAPIDS, Minn. (Dec. 31, 2012) – Officials from the Blandin Foundation and the Charles K. Blandin Residuary Trust head to St. Paul next Monday for the every-three-years review by Ramsey County District Court of the Trust’s distributions to the Foundation.
Ever since the Foundation was established in 1941, the Court has reviewed the Trust.
Years 2009-2011 will be reviewed January 7 at 1:30 p.m. at the Ramsey County Courthouse in St. Paul, with Judge Margaret Marrinan presiding. The hearing is open to the public, and the Minnesota Attorney General’s office is, by law, in attendance at the hearing.
“We look forward to meeting again with Judge Marrinan and updating her on the Foundation’s work,” said Dr. Kathy Annette, Blandin Foundation president and CEO. “Healthy organizations are transparent and accountable, and Mr. Blandin had great foresight in building regular Court reviews into the plans for his trust and foundation.”
When Grand Rapids resident and paper-mill owner Charles Blandin established his foundation in 1941, he also established the Charles K. Blandin Residuary Trust. The Trust’s role is to invest and grow the assets left by Mr. Blandin for the Foundation. Grand Rapids businessman Jim Hoolihan serves as the “individual trustee” of the trust and Wells Fargo Bank N.A. is the “corporate trustee” of the trust.
Blandin Foundation, the sole beneficiary of the Charles K. Blandin Residuary Trust, is Minnesota’s largest rural-focused private foundation and one of only a handful in the nation focused exclusively on rural communities. The Foundation works for vibrant rural communities, especially the Grand Rapids area, through grant-making, leadership development programs and public policy initiatives.
More on the history of the Foundation, the Trust and past court reviews is available at https://blandinfoundation.org/who-we-are/.