As reported by Shannon Prather in the Star Tribune in January 2017, the Otto Bremer Trust, the charitable foundation that owns 92 percent of Bremer Bank, gave away a record $47.3 million in 2016 — the largest annual amount since bank founder Otto Bremer created the trust in 1944.
The funding, in the form of grants and program-related investments, went to 550 applicants in Minnesota, North Dakota and western Wisconsin including nonprofit organizations, cities and school districts.
Three Twin Cities organizations each received program-related investments, such as loans or equity investments, of $1 million:
• The Greater Minnesota Housing Fund was awarded $1 million for a fund to acquire and preserve 1,000 units of naturally occurring affordable housing in the Twin Cities.
• The Metropolitan Economic Development Association (Meda) received $1 million to support minority entrepreneurs.
• Twin Cities Habitat for Humanity will use its $1 million to help low-income families buy affordable homes in neighborhoods of their choosing.
Read the full story online at the Star Tribune.