THE 
 
 MINNEAPOLIS 
 
 FOUNDATION 
 
 INCORPORATED 1915 
 
 TRUSTEES: 
 
 MINNEAPOLIS TRUST COMPANY 
 THE MINNESOTA LOAN AND TRUST COMPANY 
 
Copyright, 1919, By 
 The Minneapolis Foundation 
 
3>G I 
 
 M GGG"w^ 
 
 an aid to local charity 
 
 THE 
 
 MINNEAPOLIS 
 
 FOUNDATION 
 
 INCORPORATED 1915 
 
 A LMOST every person whose busi- Problems in 
 ness efforts in Minneapolis have met Charity 
 with some degree of success, de¬ 
 sires to make some return to the com- 
 munity for the benefit of those who have 
 
 -"been less fortunate. Too often these 
 ) generous impulses are not put into effect; 
 l there have been no means to carry them 
 out and a wise arrangement of one’s 
 I charitable gifts has therefore been a most 
 f° perplexing problem. 
 
 A philanthropic institution may be well 
 managed and in need of much financial 
 help today, while five years hence opposite 
 conditions may exist. The difficulty in 
 ] giving wisely grows according to the re- 
 3 moteness of the time for the taking effect 
 
 of the gift. 
 
 Page three 
 
 
THE MINNEAPOLIS FOUNDATION 
 
 A charitable organization helpful and 
 essential now in the betterment of the 
 community, may gradually lose its value. 
 A present-day problem may cease to exist 
 and with its disappearance would go the 
 usefulness of the institution now engaged 
 in solving it. 
 
 In a growing metropolitan center like 
 Minneapolis, new conditions affecting 
 charities and philanthropies are ever aris¬ 
 ing. Many of our people are foreign-born. 
 Bad housing conditions are apt to develop 
 among them. Vice conditions grow serious 
 as the city’s population increases. Con¬ 
 stricted school, police, fire-fighting, sewer, 
 water and transportation facilities add to 
 the complexities of the modern city. 
 
 Some donors are able to give only small 
 amounts which may not be sufficient for 
 the carrying out of specific purposes. 
 
 The Plan of 
 The 
 
 Minneapolis 
 
 Foundation 
 
 To aid in solving these and like prob¬ 
 lems The Minneapolis Foundation has 
 been organized. It aims to afford the 
 means through which any member of the 
 community may give to charitable pur- 
 
 •* 
 
 Page four 
 
A N 
 
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 CHARITY 
 
 poses in a lasting way. It is a corporation 
 under the laws of the State of Minnesota, 
 authorized to receive money, securities or 
 other property which may be given, de¬ 
 vised or bequeathed to a Trustee for its 
 use and benefit, and to expend the same 
 for the following purposes stated in its 
 Articles of Incorporation: 
 
 To administer and furnish relief and Its Purposes 
 charity for the care of the sick, worthy poor, 
 aged or helpless, who may reside in the 
 County of Hennepin, State of Minnesota; 
 
 To improve living conditions; 
 
 To provide recreation for all classes; 
 
 To promote education and scientific re¬ 
 search, and to aid and assist such other 
 charities and charitable purposes as will 
 seem to conduce to the mental, moral and 
 physical improvement of the people of the 
 City of Minneapolis and of the County of 
 Hennepin, without discrimination as to age, 
 sex, color or religious inclinations of the 
 beneficiaries; 
 
 To receive and hold in trust for the 
 purposes above named, any money, se¬ 
 curities or other property which may be 
 transferred to this corporation by gift, 
 bequest or otherwise; and 
 
 Page five 
 

 THE 
 
 MINNEAPOLIS 
 
 F 0 U 
 
 N D A T I 0 N 
 
 
 To invest and 
 
 conserve 
 
 the same and 
 
 employ the principal as directed, or divide 
 the net income derived therefrom to any 
 of the said purposes designated by the donor, 
 or, if none be designated, to such purposes 
 as the Trustees of The Foundation may 
 determine. 
 
 In June, 1915, and in January, 1917, 
 Minneapolis Trust Company and The 
 Minnesota Loan and Trust Company, 
 respectively, passed a resolution in the 
 nature of a declaration of trust defining 
 their relations with The Minneapolis 
 Foundation. Each company is authorized 
 to accept gifts, devises and bequests, as 
 Trustee for the use and benefit of The 
 Minneapolis Foundation, and is periodi¬ 
 cally to pay over to it the income arising 
 from the trust property. 
 
 In some American cities the trustees of 
 similar corporations have been picked 
 from the directors of a single trust com¬ 
 pany or of a trust company and a bank. 
 In Minneapolis it was thought wise to 
 broaden the scope of the local Foundation 
 and accordingly twenty-four of the 
 
 How The 
 Foundation Is 
 Managed 
 
 Page six 
 
A N 
 
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 twenty-five trustees of The Minneapolis 
 Foundation have been chosen from four 
 of our large financial institutions, to-wit: 
 Minneapolis Trust Company, The First 
 and Security National Bank, The Minne¬ 
 sota Loan and Trust Company and The 
 Northwestern National Bank. The first 
 Board of Trustees is made up of the 
 following: 
 
 James Ford Bell 
 R. M. Bennett 
 
 E. L. Carpenter 
 
 F. A. Chamberlain 
 Joseph Chapman 
 Hovey C. Clarke 
 Frederic W. Clifford 
 Albert C. Cobb 
 Elbridge C. Cooke 
 John Crosby 
 Edward W. Decker 
 Karl DeLaittre 
 
 Oliver C. 
 
 William A. Durst 
 Joseph R. Kingman 
 SumnerT. McKnight 
 Charles S. Pillsbury 
 John S. Pillsbury 
 F. M. Prince 
 Arthur R. Rogers 
 Charles V. Smith 
 John R. Van Derlip 
 Fred C. Van Dusen 
 C. C. Webber 
 W. O. Winston 
 Wyman 
 
 First Board of 
 Trustees 
 
 The Board of Trustees of The Founda¬ 
 tion choose a Disbursement Committee 
 from among their own number. Funds 
 are paid out by the Board upon the 
 
 Page seven 
 
THE MINNEAPOLIS FOUNDATION 
 
 written orders of a majority of the 
 committee given at regularly called 
 meetings. 
 
 Manner of Distribution of gifts is in keeping with 
 Distributing the donors’ directions. If they wish in- 
 Gifts come alone to be expended, the principal 
 of a gift would not be drawn upon. If 
 they recommend that certain charities be 
 benefited, the Board of Trustees would 
 pay out the funds for the purposes men¬ 
 tioned. 
 
 If property be left to be used in the 
 discretion of The Foundation, both princi¬ 
 pal and income would be paid out at such 
 times and for the use of such beneficiaries 
 or classes of beneficiaries as the Board of 
 Trustees might approve. If in their 
 judgment a charity should become un¬ 
 worthy of help or in the event of a partic¬ 
 ular charity having ample funds for its 
 needs, the Board of Trustees would use 
 the money for other charitable purposes. 
 
 The conservatism and ability of the 
 Trustees to invest safely, and to care 
 wisely for trust funds; the make-up of the 
 
 Page eight 
 
AN AID TO LOCAL CHARITY 
 
 Board of Trustees from among whom the 
 Disbursement Committee is chosen; the 
 audit of all accounts; the publicity required 
 as to accounts and investments; and the 
 right of visitation given to the Attorney 
 General of Minnesota and to the City 
 Attorney of Minneapolis, are certain to 
 secure for The Minneapolis Foundation 
 : the confidence of the public in its proper 
 administration. 
 
 From the experience with similar 
 organizations in other cities it is confi¬ 
 dently expected that a large fund will be 
 accumulated in Minneapolis, and it is 
 believed that the general welfare will be 
 better served if this fund is an aggregation 
 of a great many contributions, making it 
 a “Community Trust” in the largest sense. 
 
 The following forms of bequests and 
 devises have been suggested: 
 
 I give and bequeath to.._. 
 
 Trust Company, a corporation of Minneapolis, 
 Minnesota, as Trustee, however, the sum 
 
 of.Dollars ($.), 
 
 the entire net income therefrom to be paid, 
 
 Suggested 
 Form of 
 Bequest for 
 General 
 Purposes 
 
 Page nine 
 
THE MINNEAPOLIS FOUNDATIOI' 
 
 assigned, and transferred to The Minneapolis 
 Foundation, a Minnesota corporation, for the 
 uses and purposes of said The Minneapolis! 
 Foundation. 
 
 Suggested 
 Form of 
 Bequest for 
 Specific 
 Purposes 
 
 Suggested 
 Form of 
 Residuary 
 Devise to take 
 Effect on 
 Death of 
 Life-Tenant 
 
 I give and bequeath to. 
 
 Trust Company, a corporation of Minneapolis, 
 Minnesota, as Trustee, however, the sum 
 
 of.Dollars ($.), 
 
 the same to be by it invested in authorized, 
 income-producing securities, and the entire net 
 income therefrom to be paid by it as received,' 
 and the principal thereof to be paid upon 
 written request to The Minneapolis Foundation 
 for the uses and purposes of said The Minneapolis 
 Foundation, it being my desire, however, that 
 the net income therefrom shall be devoted to the 
 
 support of., except 
 
 that in the discretion of the Board of Trustees 
 of said Foundation it may be used for the 
 purposes of said The Minneapolis Foundation. 
 
 After the decease of. 
 
 I give, devise and bequeath all the rest, residue 
 and remainder of said properties so held in trust 
 
 to.Trust Company, 
 
 a corporation of Minneapolis, Minnesota, as 
 Trustee, however, the same to be by it held, 
 managed, invested and reinvested, and the 
 entire net income from said properties so to be 
 
 Page ten 
 
^ N 
 
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 ield in trust to be paid, assigned and transferred 
 q The Minneapolis Foundation, a Minnesota 
 corporation, for the uses and purposes of said 
 The Minneapolis Foundation. 
 
 All of the rest, residue and remainder of my 
 estate of every nature, real, personal and mixed, 
 whether now owned by me or hereafter acquired, 
 ind wheresoever situate, I give, devise and 
 
 pequeath to. 
 
 Trust Company, a corporation of Minneapolis, 
 Minnesota, as Trustee, however, the same to be 
 )y it held, managed, invested and reinvested, and 
 ;he entire net income from said properties so 
 :o be held in trust to be paid, assigned, and 
 :ransferred to The Minneapolis Foundation, a 
 Minnesota corporation, for the uses and pur¬ 
 poses of said The Minneapolis Foundation. 
 
 Suggested 
 Form of 
 Residuary 
 Devise 
 
 i 
 
 °age eleven