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"I've never experienced poverty," says Andrew Dayton, son of former Minnesota Gov. Mark Dayton. "And my perspective is I'm not the best person to make a decision about how to fight poverty."
His Constellation Fund is one of three foundations in the Twin Cities, and one of the youngest, that have turned philanthropy into something more akin to a business, the St. Paul Pioneer Press reports.
Instead of simply handing out grants, the foundations work with advisers to rate grant applicants based on 200 metrics, then write checks for up to $200,000 to fight poverty.
"A lot of philanthropy is really rooted in relationships, and getting access to people with resources, frankly people like me," Dayton says.
The other two foundations in the area, the Venn Foundation and the Constellation Fund, work with advisers to issue low-interest and no-interest loans, among other "program-related investments," or PRIs, to keep giving to other worthy initiatives as they're paid off.
But Andrew Dayton's approach is different from that of the John and Denise Graves Foundation, an emerging Minneapolis-based family foundation that has focused on launching new ventures and helping them grow sustainably.
"New ideas need time and space to form," says Bill Graves, who leads the foundation.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Foundation: Lilly Endowment
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The Bill Gatton Foundation supports K-12 and higher education, health, and community development in Kentucky, Upper East Tennessee, and Southwest Virginia.Large education grants include $13.5 million...more
Local organizations win $9 million for new affordable housing, social services.Connecticut's Community Investment Fund grants come amid a deluge of cuts to federal funding.The fund was established in...more
Foundation: Parasol Tahoe Community Foundation
Parasol Tahoe Community Foundation has proudly supported Bread & Broth for the past 10 years.In 2024, the Community Foundation was able to introduce the mission of Bread and Broth to a donor who is...more
Foundation: Latino Community Foundation
Latino Community Foundation Awards $3.88M in Grants Across California and Nevada.NewsBreak: Latino Community Foundation awards $3,000,000 in grants across California andNevada.Newsbreak: $1.5 million...more
Alejandro Betancourt Lopez rejects traditional corporate social responsibility models that separate business operations from community impact.Rather than limiting community engagement to corporate...more
Thoughtful giving isn't just about making a donation, it's about creating meaningful impact.Community foundations exist to connect generosity with need, ensuring that charitable giving is both...more
Kareem Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund.Bhavani Daryanani has more than 20 years of experience in the sector, bringing deep...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
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