BEMIDJI — The Northwest Minnesota Foundation loaned or granted more than $890,000 for the fourth quarter of the fiscal year.
According to a release, funds released April through June 2023 included $450,000 in loans to small business owners, more than $256,000 in local philanthropic activities and more than $185,000 through the foundation’s mission-driven grant programs.
The Northwest Minnesota Foundation serves two tribal nations, Red Lake Nation and White Earth Nation, and the twelve counties of Beltrami, Clearwater, Hubbard, Kittson, Lake of the Woods, Mahnomen, Marshall, Norman, Pennington, Polk, Red Lake and Roseau.
The foundation is expected to release its annual impact report of its recently completed fiscal year in the fall.
Seven businesses were assisted this quarter through eight loans.
In local philanthropy, the component and community funds, 83 local grants and scholarships were approved. The foundation houses around 415 funds, like community funds, donor-advised funds, education funds, scholarship funds and others.
Six mission-driven grants were approved this quarter, such as $80,000 in child care grants from the Governor’s Emergency Education Relief Fund and $40,000 to support three housing projects; one by the Headwaters Regional Development Commission, one by the city of Thief River Falls, and one through the Northwoods Habitat for Humanity.