Our History
The Rochester Area Foundation's genesis starts with the vision of
the late Harry J. Harwick, chairman of the Mayo Foundation from
1939 to 1958. He suggested that a study group be formed in 1942
to determine whether a community foundation would work in Rochester.
A special committee of the Rochester Community Chest was
appointed on Oct. 23, 1942, to investigate the feasibility
of a community foundation in the city of Rochester. On May 11, 1944,
the committee of the community chest recommended to its
president and board of directors that a community foundation
be formed as quickly as possible.
In December 1944, the Rochester Community Foundation was born.
On Dec. 5 of that year, the Mayo Properties Association, now
the Mayo Foundation, transferred an unconditional gift of
$3,500 to the newly formed Foundation.
In January 1945, the Rochester Community Foundation filed
incorporation papers with the state of Minnesota. Harry Harwick
was elected as the first chairman.
In 1948, the Foundation made its first grant for $5,000 to
assist with the development of a Girl Scout camp.
In 1949, the Foundation received its first major bequest
from Jennie E. Mo of Byron. The Jennie Mo trust of $59,410
was dedicated to assisting blind persons and later was
expanded to include organizations aiding persons with eye
ailments and otherwise handicapped persons. With careful
investment through the years, that fund has paid out several
times the original investment in total grants to benefit our
community.
In 1961, the Foundation changed its name to the Rochester
Foundation. The name changed again in 1978 to the Rochester
Area Foundation, to reflect a wider area that the foundation
was serving. In the same year, the Foundation gave its first
area grant - $1,000 to the Chatfield Brass.
In 1983, the Foundation's assets reached $1 million. The board
of trustees decided that the increased level of requests and
correspondence required the services of a part-time paid employee.
At that time, a half-time executive director was hired.
The Foundation celebrated its 40th anniversary in 1985. During
its first 40 years, assets grew to $1.3 million with more than
$1 million awarded in grants. A half-time administrative
assistant was added to assist with growing tasks.
The rate of growth of the Foundation's assets started to
accelerate. By December 1988, the endowment rose to $2 million.
The following year, 1989, was a pivotal year in the Foundation's
history. Alan and Sharon Tuntland established the first
donor-advised fund with the Rochester Area Foundation and
made the largest gift ever received by the organization.
Although asset growth had continued to accelerate, the increase
in the rate of growth was below the level needed to justify the
operational costs. In 1993, the trustees decided to pursue a
challenge grant to help attract needed current gifts. The
process of applying to the Bush Foundation for a challenge
grant transformed the Rochester Area Foundation.
The Bush Foundation awarded the Rochester Area Foundation its
first ever endowment challenge grant in October 1993. At the
time of the award, the Foundation's assets stood at $4 million.
The terms of the four-year challenge grant provided for a total
of $500,000 in matching funds once the Rochester Area Foundation
raised $3.3 million in new endowment. The Rochester Area
Foundation completed the campaign 10 months early and at the
end of 1997 had reached $10.5 million in assets. The
Foundation has had additional opportunities to work with the
Bush Foundation in increasing its endowment for the Rochester
area.
The Foundation's assets skyrocketed in the 1990s. From the
meager beginnings of $75,700 in 1945, the endowment now has
reached about $27 million. Again, that's from only slightly
more than $3 million in 1990 and doubling that by 1995.
At the same time, grants have increased to the community as
well. From $370 in 1950, to $210,000 in 1990, the numbers
have continued to rise during the past 15 years. From 1992 to 1996, the Foundation
paid out a half-million dollars in grants. From 1997 to 2001,
the grants totaled $2.4 million, exclusive of our First Homes
initiative. In 2006 alone, the Foundation distributed over $2.5 million in grant awards. Also at the close of 2006, our combined assets with First
Homes reached over $40 million.
2006 Financial Highlights
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In 2006, the Rochester Area Foundation distributed $2.5 million in grants and received $5.8 million in contributions. In this section you will find information on the Community Foundation's assets, funds, contributions, and grants.
The 2006 numbers represent initial findings. Audited financials are available for review at the Foundation Center.
Please click here to view 2006 Financial Highlights
