The year 2018 marked the 61th Anniversary of the Elmer L. & Eleanor J. Andersen Foundation.
The social justice grantmaking program continued to be a focus for the Foundation. In the area of political power and process a one year grant of $20,000 was awarded to Minnesota Voice to continue the goal of increasing voter engagement of under-represented and marginalized communities in the Twin Cities area through 2018.
In the environmental justice area, the final $25,000 installment of a two year grant of $50,000 was awarded to Conservation Minnesota to focus on changing public attitudes across diverse Minnesota communities to address climate change.
In the civil and human rights area, the board determined a goal of protecting human rights of immigrants in Minnesota. John Keller, Executive Director at the Immigrant Law Center of Minnesota (ILCM), highlighted the work being done by ILCM in response to the current political climate and presented three areas of work that would fit the Foundation’s objective. ILCM was invited to submit a proposal for support of the DACA Deferred Action program.
The investment management of the SRI Fund was transferred to Trillium Asset Management. After conducting interviews with three firms, Trillium Asset Management was a great option for achieving the Foundation’s stated policy goals for the SRI account.
Internal Foundation developments include the election of Mari Oyanagi Eggum to the board. Amy Andersen and Kate Lawson attended the MCF Conference in January. Also, Julian Andersen and Kate Lawson updated financial reports that include graphs showing asset management and use of cash.
In addition to the social change grants, grant payments of note include a $4,000 fourth year payment on a five year, $20,000 grant to the University of Minnesota Foundation supporting the acquisition of the Whittington Press collection by the University of Minnesota Libraries. Also, the Real Change Homeless Empowerment Project in Seattle received the final of three $8,000 payments for general operations.
Net assets of the Foundation decreased from $5,538,568.79 in 2017 to $5,444,264.23 in 2018. The net decrease was $94,340.56 or -1.7%. This decrease in corpus value resulted from annual investment growth being weaker than anticipated, especially in the fourth quarter. Grants and expenses were as planned. Investment advisors anticipate market recovery.
During the fiscal year, 87 grant payments totaling $195,830 were sent to community organizations. Expenses were $102,395. The investment gains for the year were $203,921, an increase of 3.68%. Investment gains in 2017 were 17.97%.
Anticipated activities in 2019 include a grant awarded in the area of civil and human rights, continued documentation and refinement of Foundation procedures and a relocation of the Foundation offices.
