Contact: Steve Joul, CMCF President Phone: (320) 253-4380
Charitable Giving Rebounds in Central Minnesota
Donations to Foundation Rise 76 percent
St. Cloud, Minn. – Charitable giving in Central Minnesota began to rebound to pre-recession levels, according to a report released today by the Central Minnesota Community Foundation (CMCF). The Community Foundation received $8.8 million in gifts in the fiscal year ending June 30, according to the 2011 Annual Report. That’s up 76 percent from the same period a year ago and nearing the pre-recession giving peak of $11 million.
The Foundation also reports that future gift commitments point to a very positive long-term giving trend in the region. The Foundation received $19.5 million in deferred gift commitments, matching the total from the previous two years combined. The full report is available at CommunityGiving.org.
The Foundation began to see a significant turnaround in giving at the end of last year when it received $6.7 million in gifts from July 1 to Dec. 31, 2010. That’s more than double the $3 million received during the same period in 2009 and reached levels not seen since before the recession.
After two years of significant decreases, giving on a national level increased last year to more than $290 billion, according to the Giving USA Report. Individual giving levels seen at the Central Minnesota Community Foundation outpaced the 3 percent increase seen nationwide.
“We’ve always known that the Central Minnesota community is generous,” CMCF President Steve Joul said. “This is just further proof. Even when the economic climate gets tough, our neighbors dig deeper, so they can continue to give.”
Giving nationwide broke $300 billion in 2007 before dipping in 2008 for the first time since 1987, according to the Giving USA Report. Giving took a worse hit during the Great Recession than it did during previous recessions.
The Central Minnesota Community Foundation (CMCF), based in St. Cloud, is a public charity that administers over 500 charitable funds totaling more than $65 million for the benefit of local residents. CMCF has been engaging people and connecting resources to build a better community since 1985. CMCF deepens its community impact through its affiliates, Alexandria Area Community Foundation, Brainerd Lakes Area Community Foundation, and Willmar Area Community Foundation, as well as its supporting organization the Minnesota Real Estate Foundation. Learn more at CommunityGiving.org.
