How good are you at predicting the future? Chances are there are things in your life today that you never would have anticipated five or ten years ago. Success often requires flexibility, the ability to embrace opportunities and adapt to change. For this column, I was inspired by Faribault Foundation Executive Director Laura Bock, who has eloquently described the Foundation's evolution, and by Pat Gustafson, one of the Foundation's original board members who continues to serv

“Community Matters.” This was a favorite phrase of Marcia Morris Beck, who died March 4 at the age of 74 after a lifetime of service to the Faribault community. Marcia Morris grew up in Des Moines, Iowa but when she and her husband, Ken Beck, moved to Faribault in 1984 they quickly made Faribault their hometown. She became a fixture in local theater, whether she was teaching and directing at Bethlehem Academy, acting in the plays produced by the Paradise Center (now FACT),

What if you could help ensure the long-term financial stability of a favorite charity? What if your contribution became part of a permanent fund, invested for long-term growth to generate earnings over time? And what if a portion—say 5%—was distributed each year to support the charity’s mission? You would know your gift is making an impact today, while also helping sustain that impact for years to come. This is how an endowed fund works. Endowments are particularly well suite

It seems there’s always something more to learn once you get to a certain age, and managing income and taxes in retirement is no exception. It can come as a shock to learn that the money you’ve accrued in retirement funds isn’t yours to spend until you withdraw it as income. At that point, the IRS will claim a portion, using standard tax tables. The more you withdraw, the higher your tax rate and, potentially, the higher your Medicare fees. But there is one way to put some

Abraham Lincoln said, “when I do good, I feel good”. That good feeling you get when you donate to a charitable organization is its own reward. Even better, and new for 2026, the IRS now offers philanthropic donors a new way to save on their taxes with the Universal Charitable Deduction (UCD). In the past, taxpayers who didn’t itemize deductions did not receive a tax benefit from their contributions. But now, the UCD allows you to deduct up to $1,000 per person or $2,000 per

Happy New Year’s wishes from the Faribault Foundation! If you are reading this in the third week of January, pause for a moment and ask yourself: How am I doing on my resolutions? Are you still on track three weeks in? Are you already feeling resolution exhaustion? Or maybe you didn’t resolve to make any changes for 2026 at all—and that’s okay too. I didn’t have an ambitious plan to change my lifestyle or start a new routine this year. Instead, I resolved to organize and incr

As we approach the end of 2025, there is so much to look back on with pride. This has been a year of meaningful momentum for the Faribault Foundation — a year shaped by generosity, collaboration, and a shared belief in what Faribault can accomplish when we all work together. In 2025, we saw the impact of local philanthropy grow in ways that were both inspiring and deeply encouraging. From expanding charitable assets to welcoming new donors and partners, this year I was remind

What’s your recipe? Everyone who celebrates Thanksgiving seems to have ingredients that are essential. What are your favorites? Maybe it’s Grandma’s special dressing, or pumpkin pie and pecan pie. Do you try new recipes or stick with the tried and true? What other “ingredients” make Thanksgiving Day special for you? Is it running or walking in the IRIS Turkey Trot, is it volunteering with loved ones at the Free Thanksgiving Day Meal before you sit down to your own dinner, th

FARIBAULT FOUNDATION - A “WIN-WIN-WIN” FOR YOU AND OUR COMMUNITY Todd Markman It seems like every time you turn around there’s a benefit for a worthwhile cause in our lives and community. The needs are widespread, ranging from food insecurity to personal illness to many of our favorite nonprofit organizations and kid fundraisers. We all want to help, but we only have so much money and our seemingly small gifts aren’t near enough to solve all the issues. But wait…might th

Laura Bock Executive Director Sometimes the word Charity gets a bad rap. Charity is not a freebie; it is a way to care for others. Charities or nonprofit organizations fill essential needs in our community, and our acts of charity help us to respond to the needs of others with kindness and without judgement. We write a lot about giving and philanthropy in this column. Get ready, because October will be your month to demonstrate a giving heart. The Faribault Foundation invite