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2018 Annual Report Letter from the Trustees

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2018 Annual Report Letter from the Trustees 2018 Annual Report Letter from the Trustees IF THERE IS A COMMON DENOMINATOR TO THE INVESTMENTS OBT’s commitment to supporting WE MAKE EACH YEAR, IT IS PEOPLE. IT IS ABOUT THE POSITIVE organizations that are rural and urban, large and small. IMPACT ON THE LIVES OF PEOPLE AT THE CORE OF EVERY GRANT, PROGRAM-RELATED INVESTMENT, AND MISSION-DRIVEN We also made internal investments INITIATIVE. IN 2018, WE SAW TANGIBLE RESULTS THAT OUR in 2018, adding program staff and WORK AS A CHARITABLE TRUST AND BANK HOLDING COMPANY strengthening our infrastructure to meet the demands of increased HAD SIGNIFICANT IMPACT ON THE PEOPLE AND COMMUNITIES involvement in the region. WE SERVE IN THE UPPER MIDWEST. We recognize the challenges organizations face, and the changing dynamics of both philanthropy Through careful stewardship of our We support organizations and and finance, and OBT will continue financial portfolio and our majority programs that empower individuals to meet the challenges of this ownership of Bremer Bank, we made to succeed for the betterment of their evolving environment. investments in the form of grants and communities and greater society. program-related investments totaling We have learned over many decades We are energized by the impact OBT’s more than $50 million, the highest of investing in people and places investments are having in Minnesota, amount in our history. We continued across the region, that many issues North Dakota and western Wisconsin. to seek unique opportunities in which are interrelated; progress in one arena In our 75th year, we are proud of the we made investments that helped can have a positive, cascading effect foresight and oversight that has grown provide fresh and innovative solutions on others. an initial endowment of $2 million in to challenges and opportunities in 1944 to an organization with assets We’ve seen countless examples of communities across the region. now greater than $1 billion. innovative programming this past year, Several factors inform our approach to but several stand out: the Minneapolis We are humbled to be part of the finance and philanthropy. As we make Public Housing Authority, which work of the Otto Bremer Trust and investments, we look for a variety of focuses on sustainable, low- to very- believe our founder, Otto Bremer, returns—social, financial, and hybrid. low-income housing; Wallin Education would be gratified that his vision for A social return is measured by a clear, Partners and its highly effective model a better community continues to pay positive difference in people’s lives. for providing essential support to dividends today and will do so well A financial return helps sustain and low-income college students; and into the future. grow the assets that will support future Meda, which is expanding its low- investments. A hybrid return provides a interest loan pool to support minority combination of both. In all of these, real entrepreneurs in St. Paul and greater people are the ultimate beneficiaries. Minnesota. These, and more than 550 other investments OBT made across the region in 2018, exemplify Charlotte S. Johnson S. Brian Lipschultz Daniel C. Reardon CO–CEO AND TRUSTEE CO–CEO AND TRUSTEE CO–CEO AND TRUSTEE 2018 Financial Overview YEAR ENDING 12/31/18 End of Year Market Value of Assets $1,011,632,753 $1,031,098,556 $945,257,043 CASH $529,845 $936,964,482 $906,202,779 INVESTMENTS Fixed Income $48,449,938 Corporate Stock $976,374,789 Other $2,984,559 OTHER ASSETS Fixed Assets $2,398,833 Accrued Receivables $360,592 2017 2014 2015 2016 2018 TOTAL ASSETS $1,031,098,556 ASSETS Revenue & Expenses REVENUE Interest from investments $4,323 Dividends from investments $72,850,067 Net gain on sale of investments $2,344,793 $50,212,684 $48,774,205 Other income $2,373,747 $47,314,055 $45,131,785 $42,296,824 TOTAL REVENUE $77,572,930 EXPENSES & DISBURSEMENTS Operations and administration $5,868,655 Taxes $753,000 Grants and program-related investments $50,212,684 TOTAL EXPENSES & DISBURSEMENTS $56,834,339 2017 2014 2015 2016 EXCESS REVENUE OVER EXPENSES $20,738,591 2018 GRANTS / PRIs 2018 Investment Overview INVESTING IN PEOPLE, PLACES, AND OPPORTUNITIES IS THE CORNERSTONE OF THE OTTO BREMER TRUST’S PHILOSOPHY. IN 2018, MORE THAN 590 ORGANIZATIONS ACROSS THE UPPER MIDWEST BENEFITTED FROM JUST OVER $50 MILLION IN INVESTMENTS OBT MADE THROUGH GRANTS, PROGRAM-RELATED INVESTMENTS, AND SPECIAL INITIATIVES. THE FOLLOWING PROVIDES A REGIONAL BREAKOUT OF WHERE WE MADE AN IMPACT. Grants & PRIs by Region Central & Northern Minnesota Red River Region Western North Dakota $1,924,335 $3,473,247 $3,620,528 38 GRANTS 49 GRANTS 45 GRANTS Minnesota Statewide Southeastern Minnesota Western Wisconsin $6,813,719 $3,366,675 $3,305,007 74 GRANTS 48 GRANTS 68 GRANTS North Dakota Statewide Twin Cities Metropolitan Area Western & South-Central Minnesota $560,000 $24,468,172 $2,963,357 8 GRANTS 244 GRANTS + PRIs 53 GRANTS INVESTING IN PEOPLE A FORCE FOR GOOD For nearly 75 years, the Otto Bremer We also understand that for some, Established in 1944, the Otto Bremer Trust has existed to make investments meeting basic needs—food, stable Trust has grown to become one in Minnesota, North Dakota, and housing, transportation, and access of the nation’s largest charitable western Wisconsin with the express to healthcare and mental health trusts. It was established by banker intent of helping improve the lives services—comes first, and we and community leader Otto Bremer of the people in the region. People focus a portion of our investing in to perpetuate his vision of serving as are the common denominator in organizations and programs that a financial resource for communities our effort to help individuals reach are making a difference in assisting in the Upper Midwest. Our unique full economic, civic, and social those in need in their communities. approach combining banking, participation for the improvement finance, and philanthropic activities Additionally, we believe people who of their communities. This was the allows us to generate resources are informed and engaged in the intent of our founder, Otto Bremer, that are reinvested throughout the issues that impact their community and it is as clear today as it was region. OBT has made more than can effectively work together in upon OBT’s founding. $700 million in grants, program- building a shared vision that helps related investments, and mission- We focus our investments on address community problems and driven initiatives to organizations initiatives and organizations that create opportunities that benefit in Minnesota, North Dakota, and help people move forward in all its citizens. western Wisconsin. meaningful and powerful ways. These values reflect Otto Bremer’s That includes supporting educational commitment to helping people opportunities and training programs find opportunities to thrive and that help individuals receive the participate in their communities. support they need while pursuing We are honored to be entrusted their quest to find meaningful to continue this legacy and employment. It is also helping inspired by the people whose organizations that provide lending lives have been shaped by it. and grants to people who might not typically have access to capital to start a business and thrive as part of their community. Investing for impact across the Upper Midwest. 30 E. 7TH ST. STE. 2900 ST. PAUL, MN 55101–2988 MAIN: 651 227 8036 | TOLL-FREE: 888 291 1123 OTTOBREMER.ORG.
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