The Northfield Area Foundation was created in 1993 as “a community endowment created to receive, manage, and disburse resources for the benefit of the greater Northfield community.” The initial funds were scholarship funds for Northfield High School graduates. Over the years, additional donor-advised funds have been added, and in 2000, the Marston and Dorothy Headley Fund provided an endowment from which grants can be made by the Advisory Board.
How does it work?
Contributions from individuals, families, businesses, and charitable organizations build the endowment, the earnings from which are used to fund community needs and interests. The endowment itself, which continues to grow and yield earnings each year, is managed by the Minnesota Community Foundation, a public charity that manages and administers funds for the benefit of organizations and communities throughout Minnesota.
The Northfield Area Foundation provides a way to meet the needs and interests of the greater Northfield area now and far into the future.
Giving Back to the Community
The Northfield Area Foundation gives people an opportunity to give something back to their community. The gift is never spent, but is invested. The earnings from the invested gift are used to benefit the community and enhance the quality of life in the Northfield area. Donors also benefit through giving something back to their community and by receiving significant tax considerations.