The Otto Bremer Foundation gave $32.1 million in charitable grants in 2007 to Bremer Bank communities in Minnesota, North Dakota and Wisconsin.
This marks the largest amount given since the Foundation was established in 1944. The Foundation receives dividends from earnings generated by Bremer Banks and then distributes those funds back to the communities in the form of charitable grants.
The Foundation gave approximately $21.7 million in grants to communities in Minnesota, $4.9 million in North Dakota, $2.1 million in Wisconsin, $65,000 in Montana and $130,600 in other locations.
"We are honored to be able to give back a record amount in grants to many nonprofit organizations in our Bremer Bank communities," said Charlotte Johnson, a trustee for the Otto Bremer Foundation.
"It is our vision to build healthy communities by continuing to be a resource to nonprofit organizations through grants and other initiatives. We want to thank the employees of Bremer Banks for their hard work and to the banks' many valued clients for selecting Bremer Bank as a partner."
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The Minnesota Council on Foundations currently ranks the Otto Bremer Foundation sixth in size and assets. Its mission is to assist people in achieving full economic, civic and social participation, in and for the benefit of their communities.
Otto Bremer, as way to ensure that his personal commitment to meet the unique needs of communities in Minnesota, North Dakota and Wisconsin would continue created the Otto Bremer Foundation in 1944.
Over the years, Otto Bremer's other legacy, the Bremer Banks, owned by the Foundation and bank employees, have provided the resources essential to fund the Foundation's grant-making activities.
Leveraging dividends from the bank, the Foundation creatively responds to changing community needs by giving more than $30 million annually to respond to needs that are unique to each community.
