11-22-1994 PRTC Meeting Minutes - Laserfiche WebLink

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ARDEN HILLS PARKS & RECREATION COMMITTEE OCTOBER 25, 1994 MINUTES Call to Order: 7:05 p.m. Members Present: Dave Sand (Chair), Megan w Council LiasonePaul Malone, Parks &Dorothy McClung. Also present Recreation Director, Cindy Walsh, and Program Supervisor,Tracy Petersen Finance Committee Members Present: Christine Leavitt, Frances Holmes, Carl Rundquist,Thomas Steele, and Chuck Mentensotto j01NT Met'i 1NG WITH PARK AND RECREATION COMMITTEE-SPEAKER FROM MINNESOTA FOUNDATION Richard B. Lancaster, Executive Director, tibnnesom foundation, spoke to a joint meeting of the Finance Committee and the Park and Recreation Committee. The purpose of ttrisj yeti was to explore the opportunities for a foundation for Arden Hills to support the park°ses for The fund. �fr. Lancaster began his discussion by saying that there are three primary PuTP '_vnnesota Foundation. It is a vehicle to: 1) create charitable fuad�c)M��ta Foundation and charitable mares; and 3) provide opportunities for planned efts. • the St. Paul Foundation,which are related, provide smaller foundations investing and strative services. Mr. Lancaster explained that the cost to the foundations for the services of the N innes�thatpaul Foundation is approximately one perce-rt of each individual fund's capital investment• amount, approximately one-half percent is paid to the investtnem advisor, this a fixed fee, is paid to the amount vanes but it averages approximately one-half percent. The other one-half percent. Minnesota Foundation, for the administration of the fund. Apart from investing and admirustrativ e services, a major activity of The Minnesota Foundation is to help the foundations which are under its umbrella in marketing to identify donors. Approxinmely 90% of monies for foundations comes from individuals. The Mnnesota Foundation provides: 1) marker'.g clinics and`vO�Ops to which all its members are invited (there was recently an October session); and Z)workshops on finances, planned 'g. keys to successful fundraising. The Minnesota Foundation is a resource. It does not actually do the job of fundralaing, but it helps foundations to implement a plan and discusses What°tom would foundations have done: In regard to the potential Arden Bills Foundation, the marketing emphasize that the foundation provides citizens with an opportunity to show affection and stewardship to their hometown. After .:bir. Lancaster had given his talk, he responded to questions from the group. One question was what other tics the size of Arden Kills had set up a foundation using the Minnesota . In Foundation. These cities include R-ed Wing, Worthington, Nam"�' Argyle, •