Law Happenings: Trust Benefits Nonprofit Organizations

In 1886, Otto Bremer immigrated from Germany to the St. Paul, Minnesota area. By his death in 1944, Bremer made his fortune through successful investments in banks and brewing companies. Although Otto Bremer died over 65 years ago in 1951, his legacy lives on through the Otto Bremer Trust. Founded by Bremer in 1944, the Otto Bremer Trust continues to help nonprofits in the US.

This year, several nonprofit organizations received a record amount of money from the trust. According to the Mankato Free Press, the trust gave over $400,000 to organizations in the Mankato area this past year. Local organizations that received grants included Open Door Health Center,  Mayo Clinic Health System, The Miracle League, United Way, and the Lake Crystal Area Recreation Center.

Financial gifts from trusts help nonprofit organizations start new programs, improve current infrastructure, and bring more services to the people they serve. Open Door Health Center, which received the largest grant, will be able to open new dental clinics, while The Miracle League of North Mankato will build an inclusive Fallenstein Playground. Other nonprofits use the gifts for operation expenses, helping them stay open and provide services.

Starting a trust is one of the best ways to ensure you continue to support organizational missions you care about for generations to come. It’s easy to start a trust while you’re still living and establish a company mission and record of giving in line with your values. Although many people believe you have to be extremely wealthy to establish a trust, this isn’t actually the case. Over the years, your foundation’s assets will grow, allowing your donations, however small they are initially, to grow with time.

Contact us for help establishing a trust.