FOR IMMEDIATE RELEASE
Contact: David Hakensen, H Co., 612-840-4592
Otto Bremer Trust awards $56.8 million in 2019
SAINT PAUL, February 12, 2020 — The Otto Bremer Trust (OBT) invested $56,845,772 in grants and program-related investments in 2019 to more than 650 organizations in Minnesota, North Dakota, and western Wisconsin. The total represents OBT’s ninth consecutive year of record charitable distributions.
“In just the past eight years, we have invested more than $365 million via grants and other financial vehicles to qualified organizations that are working on the front lines to creatively address issues that impact the daily lives of people throughout the region,” said Charlotte Johnson, Co-CEO and Trustee, OBT. “Since 1944, we have worked with organizations and community leaders to identify and implement projects that provide residents of the Upper Midwest with opportunities for a better life.”
“As we close out 2019 and look to 2020, we are particularly excited about our previously announced geographic expansion,” said Dan Reardon, Co-CEO and Trustee, OBT. “This year we are expanding our funding to organizations in the state of Montana and eastern Wisconsin. We look forward to bringing additional resources to many new communities in those areas.”
In addition to OBT’s longstanding commitment to responsive grantmaking, the organization has been continuously innovating its products and services to provide the entire region with new financial resources. Recent examples include medium-term loans, investments in patient-capital funds, revolving lines of credit, real estate acquisition funds, and health services financing. In 2019, OBT established Community Benefit Financial Company as a vehicle to grow the availability of its financial resources with professional quality and consistency.
“Community Benefit Financial will provide a wide range of both program- and mission-related investments to qualified organizations throughout our four-state region,” said Brian Lipschultz, Co-CEO and Trustee, OBT. “By consolidating our lending and investment initiatives, we will increase the efficiency and visibility of these efforts. We will share more information about Community Benefit Financial in the months ahead.”
About the Otto Bremer Trust
The Otto Bremer Trust is a bank holding company and a private charitable trust based in Saint Paul, Minn., that works at the intersection of finance and philanthropy. Created in 1944 by Otto Bremer, it is today one of the region’s largest philanthropic organizations and is committed to supporting a better quality of life for residents of Minnesota, Montana, North Dakota, and Wisconsin. OBT is the majority owner of Bremer Financial Corporation, a regional financial services company, and manages a diversified investment portfolio. Since its founding, OBT has invested more than $750 million in people, places, and opportunities in the Upper Midwest. Visit ottobremer.org for more information, including a list of grants and program-related investments.