- Guest Speaker today was Tim Penny, President and CEO of the Southern Minnesota Initiative Foundation (SMIF)
- Happy to be here again, longtime friends with many Faribault Rotarians
- Tim is nearing retirement – process of hiring his replacement after 18 years with SMIF.
- Tim then gave an overview of what the SMIF does.
- SMIF is a regional development and philanthropic organization that fosters economic and community vitality in 20 counties of southern MN through a culture of collaboration and partnership.
- SMIF has $170 million invested since 1986.
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- SMIF Focus areas are Early Childhood, Entrepreneurship, Community Vitality and Small Towns.
- Early childhood focuses on early care and educational grants, early childhood initiative communities, early childhood trainings, early literacy grants, and technical assistance for clients.
- One area that Tim mentioned that SMIF recently helped early childhood was with the Faribault Chamber in the opening of the new childcare space on Wilson Avenue.
- Entrepreneurship focuses on inclusive & equitable communities grant, loan clients, peer network members, prosperity initiative members, rural entrepreneurial venture communities, and technical assistance for clients.
- Tim mentioned that SMIF has helped business financing for many businesses in the area, specifically mentioning the Twisted Chicken business in Faribault.
- Tim talked about SMIF Business Training and Coaching – supporting hundreds through training or one on one coaching.
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- Regional Food System – created 12 years ago. Local foods collaborative. Attempt to grow and enhance the food system in southern MN. Many partners in agriculture.
- Community Vitality focuses on community foundations, designated funds, matching grants to community foundations, paint the town grant, and small-town grants.
- He mentioned SMIF helping with small town growth and vitality. Murals completed in many towns.
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- SMIF has helped set up community foundations in 32 communities. Helps fund needs in those communities.
- Acres for good – SMIF is able to accept, keep and manage farmland. Helps keep land locally owned and functional as farmland.
- Tim concluded his presentation saying it is bittersweet to retire, appreciates all of the collaboration.
- Tim took some questions/comments from the audience
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