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<br /> , <br /> .. ARDEN HILLS PARKS & RECREATION COMMITTEE <br /> OcrOBER 25, 1994 <br /> . MINUTES <br /> Cail to Order: 7:05 p.m. <br /> Members Present: Dave Sand (Chair), Megan Ricke, Lynette Kreidler, Mark Labine, Dorothy <br /> McClung. Also present were Council Liason, Paul Malone, Parks & <br /> Recreation Director, Cindy Walsh, and Program Supervisor, Tracy <br /> Petersen <br /> Finance Committee <br /> Members Present: Christine Leavitt, Frances Holmes, Carl Rundquist, Thomas Steele, and <br /> Chuck Mentensotto <br /> JOINT ME::I1NG WITH PARK AND RECREATION COMMITTEE - SPE.A.KER FROM MINNESOTA <br /> FOUNDATION <br /> Richard B. Lancaster, Execnrive Director, Mi.onesom ioundaticI!, spoke to a joim ~g oftlle <br /> Finane:: Committee and the Park and "Recreation Cmnmittee. The JlIlIPOsc of this joim ~g <br /> was to e:cplore the opportll:li:ties for a ioundalion for ..vdcn Bills to support the pad: ami trail <br /> fund. :Mr. Lancaster began his discussion by saying that there are three primary JllI1'llOYS fur the <br /> Mmnesou FOWIdatiOll. It is a vehicle to: 1) create d",,'iT.h1c .timds; 2) bold and ''"''""'"'or <br /> cbariuble monies; and 3) provide oppoJ'tlJllities for p.l=d gifts. Th= ?fin.......... F~on and <br /> . the St. P3lli FOl"",;~tjn'l1, wbid1 arc related, provide smallerioundations investing aDd <br /> adminisIrarive s~ <br /> Mr. L.m=er explained that the cost to the foundations for the servica oithe MimIesocIISt. P:ml <br /> F 0U1'';~'"'' is apprrm"""f~iy Q/IC p=-n: of eac!1 individual fund's capital inv~..- Of that <br /> unoum. approximately one-half per= .is paid to the inv= advisor. tbis amoum varies but it <br /> a.verages approYi"'.....!y one.half per= The other ane-balf percent. a Jixed :tl:e, .is paid to the <br /> Minnesota F oun.dation, for the a.dmiIli8tra1ion of the fund. <br /> Apart :rom investing and administrative services. a major activity of the lY!m....cnta Fo"':!,;'';''" is <br /> to help the foundaIions wbich are Wld.cr its umbrella in marJcmmg to idemi:fy cleuors. <br /> Approxi:ma:teiy 90% of monies far fuundations comes from individuals. T.ac.MiImcsoa <br /> F oundatWn provides: 1) marla:ling di.ni.c:J and workshops to whicl1 all i1s member; are i:avited <br /> (there was reee:nly an OctOber session); and Z) worlcsl1oJls on fin~ plaJmed giving, and keys <br /> to successful fundrais:ing. The Minnesota Foundation is a resourc~. It clees not acmaIly do the <br /> job oi funciraisiIlg, but it helps foundations to imylem= 5 plan and discusses wba:t otber <br /> found.mons have done. In regard to the poWltial Arden & Fo"n~."!o",, the TrnI",~g would <br /> emphasize that me fuundaticn provides citizens with an opportUnity to show affilctim1 md <br /> stewardship to their homctCWll. <br /> After Yfr. L.mcaster had given his talk, be respcnded to questUms.from the group. 0IIe question <br /> was what other citic:s the m of Arden Hills had set up a foundation wing the M~ <br /> Foundation. These cities include Red Wing, WortIlington, New u1m, Argyle. and MomMdeo. In <br /> . <br />