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Initiative Foundation reports $389,000 in county grants, $1 million in loans and new local programs
Summary
A representative of the Initiative Foundation briefed the Sherburne County board on grantmaking, revolving loans and local programs; foundation staff reported $389,000 in 2024 county grants, $1 million in lending that leveraged $7 million, and a relaunch of the Thriving Communities program.
Carl, representing the Initiative Foundation, told the Sherburne County Board of Commissioners that the foundation has been active in the county since 1986 and has brought significant outside funding into the region.
Carl said the foundation and nine charitable funds active in Sherburne County awarded 40 grants in 2024 totaling $389,000. Lending in the county in 2024 included 11 loans totaling about $1,000,000 that leveraged roughly $7,000,000 and created or retained an estimated 56 jobs. The foundation’s nonprofit-capacity program served 12 local nonprofits and seven nonprofit leaders during the year.
The foundation representative also described new and ongoing programs: an Enterprise Academy entrepreneurship cohort of eight rural entrepreneurs serving Sherburne and Wright counties; a program officer focused on affordable childcare convening and technical support for communities; a program officer for energy efficiency and resiliency planning; and a relaunch of the Thriving Communities program with five communities participating in 2025.
Carl highlighted the organization’s return on investment for Sherburne County: “For every dollar we collect from within Sherburne County, we're able to multiply that back into $7.23 of investment in forms of grants, scholarships, loans, etcetera,” he said. He asked county leaders to continue referring communities to the foundation’s capacity-building programs and economic-development grants.
