Waseca Area Foundation
The Waseca Area Foundation is a lasting vehicle for individuals to give back to the community. The Foundation's general fund directs its grantmaking to projects and programs in the areas of education, arts, health and human services, recreation and support for public facilities.
The Foundation was established in 1989 using profits from the local all-school reunion. Thanks to the continued support of individual donors, the Foundation has continued to grow over the years. With assets now totaling more than $5.5 million, the Foundation is home to more than 50 funds. For example, the neighboring cities of New Richland and Janesville have established their own community funds under the Foundation's auspices. The Foundation also absorbed the E.F. Johnson Foundation in 2007 and continues to administer grants per the Johnson family's original guidelines.
How the Waseca Area Foundation Makes a Difference
With its diversity of funds, the Foundation provides for multiple community needs. Some funds have been used to issue grants to local public schools and nonprofit organizations that support education, arts, recreation and human services in the greater Waseca community. The Foundation's largest fund, the E.F. Johnson Foundation, provides for everything from college scholarships to funding for the Waseca Arts Council and Waseca County Historical Society. Other funds exist to support the high school band program, local youth programs and beautification efforts throughout the city. The Foundation's leadership--and initial funding--also helped established a water park for the community.
Where are Foundation Funds Held?
Effective October 13, 2011, our parent foundations, Minnesota Community Foundation and The Saint Paul Foundation, merged with two other foundations to form Minnesota Philanthropy Partners. The four institutions have been sharing staff and services for decades. Minnesota Philanthropy Partners is a network of people and organizations that share knowledge and services to have the greatest possible impact through charitable giving. The monies received by the Waseca Area Foundation will be submitted to the Minnesota Philanthropy Partners to manage and invest the donated funds, largely from private sources, for charitable purposes. Minnesota Philanthropy Partners awards amounts annually to Waseca Area Foundation for disposition.
Minnesota Philanthropy Partners' Investment Committee is responsible for establishing the investment policy, developing the investment strategy and continually monitoring investment performance--tasks which are more crucial than ever given the difficult investment climate faced by all investors since 2008. Their asset allocation strategy is to invest 25% in domestic equities, 25% in international equities, 15% in fixed income, 15% in real assets, 12% in private capital, and 8% in absolute return.
To see the Waseca Area Foundation's current list of funds and their summaries as of 6/5/12, click here.