Image: Image for News Item: Foundation trustees met with local organizations, approved financial aid for ICC
Foundation trustees met with local organizations, approved financial aid for ICC
FOR IMMEDIATE RELEASE
Blandin Foundation trustees met with Itasca County organizations, approved supplemental financial aid for ICC
Grand Rapids, Minn. — Blandin Foundation trustees met Sept. 20-21 in Grand Rapids for their annual fall planning retreat, including meeting with several Itasca County organizations working to adjust to a very changed economic landscape. Trustees heard stories of reaction and innovation from economic development, social service, government and community organizations.
Of their quarterly meetings, Blandin Foundation trustees reserve their fall meeting for planning and learning, meeting with grantees and other partners throughout Itasca County and other rural Minnesota communities. Grants typically are not reviewed at the fall meeting, although trustees did approve an increase in funding for local student scholarship for those attending ICC.
In addition to $350,000 already granted for ICC financial aid during the 2010-11 academic year, $25,000 in supplemental funding will help to meet unprecedented enrollment and need at ICC. A full range of grants will again be reviewed by trustees at their December 6-7 meeting.
In other action, trustees reviewed and approved final reports of the final tax return for 2009. As of December 2009, the Blandin Foundation distributed $9.2 million in grants, 69% of which were to Itasca County area organizations. The C. K. Blandin Residuary Trust (of which the Foundation is the sole beneficiary) held $326 million in assets as of Dec. 31, 2009. The Foundation itself holds $22 million in assets, in part to honor bond obligations and future grant commitments.
Complete audited statements, 990PF tax returns and grants awarded always can be found at the Foundation’s web site (https://blandinfoundation.org/about/).
Photo caption: Students and staff of Itasca Community College engineering programs met with Blandin Foundation trustees during a September tour. In response to record enrollment levels at the college, Foundation trustees approved a supplemental grant for financial aid for ICC students from Itasca area schools.