AUSTIN, Minn. –December 12, 2016 – The
Hormel Foundation approved over $34 million in grants and annual contributions in
2016 to benefit Austin-area organizations, a historic record and one that
celebrates the Foundation's 75th successful year.
a privilege to be a part of this community and to play a role in its
development and growth" said Gary Ray, chair of The Hormel Foundation.
"When the Hormel's created the Foundation more than 75 years ago, they had
an idea that the Foundation, the company they created and the community they
called home would support and help one another. That idea has been tested and
proven time and again to the benefit of everyone who lives in, works in or
visits Austin. This interlocking relationship is a center of gravity that pulls
our community together and sustains our institutions, even while it lets them
change to meet the changing needs of the community."
The board approved grants of $8,000,000
for its qualifying organizations including Austin Area Foundation, Austin
Public Schools, Austin Scholarship Committee, Austin Salvation Army, Austin
Community Growth Ventures, Cedar Valley Services, City of Austin, Mayo Clinic
Health System-Austin, The Hormel Institute, University of Minnesota, Riverland
Community College, United Way of Mower County and the YMCA.
It also approved projects for the
community such as $25 million for the new
community recreation center. The rec center will be built at the downtown Austin Municipal
plant site and will feature an aquatic center, gyms, a gymnastics facility,
workout rooms and a running track along with public spaces like an indoor
playground, a Youth Activity Center and meeting rooms.
“We are excited
for the many transformative projects that are either newly completed or in
various stages of development that will greatly impact and improve our
community,” said Gary J. Ray, Chair of The Hormel Foundation. “The choices our
board makes are those to benefit people's experience of living and working here
and to help the Austin area's economy grow and thrive."
The Hormel Institute,
University of Minnesota, a world- renowned cancer research center located in
Austin, is the principal recipient of the Hormel Foundation's annual
contributions. Following The Hormel Foundation's investment of $23
million for 20 new labs, the Ray Live Learning Center/Auditorium, recruitment
and hiring of top scientists and a new CryoEM microscope, The Hormel Institute
celebrated its second major expansion in eight years in June. The expansion is
expected to bring 130 new jobs to Austin over the next few years
“The Hormel Foundation
looks forward to continuing to provide substantial support for the Institute’s
incredible research, growth and success,” Ray said.
In 2016, The
Hormel Foundation celebrates its 75th year. The Foundation has given $229.2 million
to the Austin area in projects designed to serve and benefit all people in the
community. Since 2000, 84% or $196 million has been distributed to the
In the past
year the Hormel Foundation gifted $5 million for the new interpretive center for
the Hormel Nature Center, a project that will be completed next spring. This
center will bring enjoyment and nature conservation education to people of all
ages in the community as well as serve as a destination site to bring visitors
The Hormel Foundation
ranks fourth in annual giving among Minnesota’s largest community/public
foundations and public charity grant makers, with those in the lead located in
the Twin Cities, according to the Minnesota Council on Foundations. The Hormel
Foundation’s contributions are a direct result from the dividend increases of
Hormel Foods’ common stock – the Foundation’s main asset.
continue to benefit from the strong performance of Hormel Foods," said
Ray. "The company reported its 14th consecutive quarter of record earnings
and has a strong culture of innovation and industry leadership. That success is
translated into projects and services that impact the lives of people in our
community and around the world."
The Hormel Foundation
A separate entity from Hormel Foods Corp., The Hormel Foundation
is a non-profit 501(c)(3) organization established in 1941 by Hormel Foods
Corporation founder George A. Hormel and his son, Jay C. Hormel.
Contributions from The Hormel Foundation directly benefit the Austin, MN area.
The Hormel Foundation was reorganized in 1980 as a supporting organization
under I.R.C. Section 509(a)(3). As a supporting organization, it is
organized and operated for the benefit of those charitable or educational organizations
represented on its board.