Pohlad Family Foundation Pledges up to $20 Million to Support Small Business, Improve Neighborhoods and Retain Important Nonprofit Services
Partners with the Pohlad Family Foundation in its housing effort are:
* Neighborhood Housing Services of Minneapolis and Dayton’s Bluff Housing Services, which will receive $2 million to increase homeownership in two neighborhoods with the greatest number of foreclosed properties;
* Minnesota Housing Finance Agency, which will distribute $2.4 million to agencies providing long-term, service-enriched, transitional housing to families;
* Family Housing Fund, whose Home Prosperity Fund will receive a $1 million PRI* to help nonprofit housing groups purchase and rehab foreclosed homes.
Funds for nonprofit organizations
The Pohlad Family Foundation is providing $5 million to help Twin Cities’ nonprofit agencies struggling to meet demands for services retain, or temporarily add, employees providing direct services to families in need. Administered by MAP for Nonprofits, at least 80 percent of grant funds will be used to retain jobs and up to 20 percent will create temporary jobs. A committee of nonprofit experts will assist MAP in making the awards during April and May. Seventy-one (71) nonprofit agencies have been invited to apply.
Matching funds for additional needs
Because the need is anticipated to exceed available funds, the Pohlad Family Foundation is also making up to $1 million available to match contributions to funds set up for these purposes at the Minnesota Chamber of Commerce Foundation and MAP for Nonprofits. Contributions from all types of givers are welcome.
“In his inaugural address, President Obama reminded us that it is the ‘risk-takers, the doers, the makers of things’ who have always helped move our country forward,” said Pohlad Family Foundation President Bill Pohlad. “Our support of small business alone cannot meet the need or realize the opportunity. So we ask others to join us in supporting this work that also helps families and neighborhoods, and retains needed nonprofit services.”