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Our Funds
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Our
History
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Over a decade ago, Governor George S.
Mickelson and many others had a powerful
vision for South Dakota. This vision was a
challenge for the future and a chance to
make a positive impact on every community in
the state. Today, the dream is alive and
well in a generous fund known as the South
Dakota Community Foundation.
The South Dakota Community Foundation was
born as a public, non profit corporation on
November 11, 1987, in Brookings, South
Dakota. The SDCF was part of a vision the
late Governor George S. Mickelson had for
the State of South Dakota. The Foundation
memorializes William L. McKnight, former CEO
of the 3M Corporation and founder of the
McKnight Foundation. Mr. McKnight was born
in White, South Dakota. The 3M Foundation
and the State of South Dakota each committed
$2 million to the South Dakota Community
Foundation. The McKnight Foundation
committed up to $3 million on a dollar for
dollar match of funds raised privately by
the SDCF. The $3 million in private funds
was raised prior to December 31, 1998,
obligating the entire $3 million McKnight
challenge grant.
Today the South Dakota Community
Foundation's permanent endowment has a fair
market value of over $62 million. The
earnings from approximately $10 million are
available for the Board of Directors to
offer grant funding to non-profits and
charities throughout South Dakota. The
earnings from approximately $52 million in
Advised Funds afford donors the luxury of
recommending what charitable projects they
wish to fund. There are more than three
hundred fifty permanent endowment funds
within the South Dakota Community
Foundation. |
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