The Otto Bremer Trust, which currently operates in Minnesota, North Dakota, and western Wisconsin, has announced that it will expand its activities to all of Wisconsin and Montana by the middle of 2020.
The change reflects the St. Paul-based foundation's shift from a traditional grantmaking model to one that includes a range of financial tools and strategies, including program-related investments, mission-related investments, impact investments, and strategic capital allocation, all of them flowing from the trust's origins in financial services. Grant requests from nonprofit organizations in the areas targeted for expansion will not be accepted in 2019.
"We have been mindful that any change to our investment scope could have an impact on the planning and budgeting process for nonprofit organizations in the region, and we felt it was important to highlight the change now," said OBT trustee and co-CEO Daniel Reardon. "We are currently working on the detailed expansion plans and will share more information in the coming months."