With the recent actions approved by the FMC Endowment Fund Committee and the ACDA-MN Board of Directors, and in addition to its annual scholarship program, the FMC Endowment Fund will offer direct financial assistance to support the salary of the ACDA-MN Executive Director during the 2020-21 fiscal year. In addition, the leadership group also approved redirecting unallocated scholarship dollars from cancelled events, to support the annual stipends of the ACDA-MN Executive Assistant and Web Editor.
These actions are a result of the cancellation and/or major reduction of several major revenue producing programs in 2020-21 that ACDA-MN depends upon to fund its annual budget and to support the many services of its paid staff. Projections for this budget shortfall exceed 75-90% of expected revenue. Without this crucial support from the FMC Endowment Fund, the ACDA-MN leadership team would be planning for a major transition to a different administrative support model for our organization.
Further, in direct response to the impending financial challenges imposed by the Covid 19 outbreak, the ACDA-MN and FMC leadership teams eliminated the position of Director of Development, effective on March 31. Duties have been assumed by the Executive Director.
Now more than ever, please consider your capacity to donate to the FMC Endowment Fund and in so doing, support both the FMC scholarship program and the ACDA-MN organization in the remaining months of 2020.
The annual fall donation campaign will be scheduled to launch in mid-September. Donors may give by sending personal checks or providing credit card information within the return remittance envelope, or may donate at GiveMn.org with giving link available at: ACDA-MN.org
Teaming up with hundreds of Minnesota non-profits, the ACDA of Minnesota through its FMC Endowment Fund will participate in the annual Give to the Max Day scheduled for Thursday, November 19, 2020. Special incentives will be offered throughout the day for donors to maximize their contributions. Historically, millions of dollars are raised each year for Minnesota non-profit organizations through the Give to the Max campaign.
At the August 2020 Board of Directors meeting, the following policy on socially responsible investing was approved:
ACDA-MN leadership overseeing the F. Melius Christiansen Endowment Fund and the Alice T. Larsen Memorial Scholarship Fund, annually advises our investment management firm to adopt selective investment strategies that utilize socially conscious investment options that focus on environmental, social, and corporate governance criteria.
Pulling statistics from the 2019 FMC Annual Report, reveals this quick look into who donates to the FMC Endowment Fund.
The 2019 FMC Annual Report is conveniently located on the ACDA-MN website homepage at:
As a new feature within this regular column, a list of FMC donors who have donated since the previous Star issue, will be displayed. Many thanks for your ongoing support to the FMC Endowment Fund that has (to date) provided scholarship support totalling $287,557 to over 501 ACDA-MN members and their students since the first award was presented in 1997.
For corrections or additions, please contact Bruce W. Becker, Executive Director at: firstname.lastname@example.org
Donations received from May to August, 2020
NAME SPECIAL DESIGNATION
To donate ONLINE to the FMC Endowment Fund by credit card go to:
To donate with CHECK payable to ‘FMC Endowment Fund’, send to:
FMC Endowment Fund
Bruce W. Becker, Executive Director
13288 Downey Trail
Apple Valley MN 55124
Working on behalf of our organization, we wish to acknowledge and thank these leaders for their service and contribution of time and resources to support the FMC Endowment Fund:
Since 2014, investment holdings within the FMC Endowment Fund have been professionally managed by JNBA Financial Advisors, Bloomington.