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

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

The Joy of Giving: Building a Stronger Faribault Together There is a unique kind of joy that comes from knowing you’ve made a difference in someone else’s life. It’s the quiet satisfaction of seeing children laughing and playing in the splash pad at the new Viaduct Park, knowing you helped make it possible. It’s the pride of knowing that because you contributed to Fluff the NEST, students in our school district now have free access to personal hygiene and clothing items they

Laura Bock, Faribault Foundation Executive Director We often hear the term endowment and may understand that it can be a force for good—but how does it actually work? An endowment is a permanent fund where donations are invested. The original donations are called the principal, and they remain intact. Over time, the fund grows through additional contributions and investment returns. After an initial investment period (typically a year or more), a spending policy is applied. A

Laura Bock - Executive Director The Faribault Foundation is pleased to announce the awards for the 2025 CommUnity Micro-Grants.   Following a review of all applications by the Grants Committee, the Faribault Foundation Board of Directors approved the following CommUnity Micro-Grants.   The following organizations will receive $500.00 ·       Buckham West Senior Center  ·       Earnest Effort Christmas  ·       No Tummies Left Behind ·       Paradise Center for the Arts  ·     

Thanks to Dr. Mike Richie, for his clever message about the value of having a Donor Advised Fund (DAF). If you need to reduce your tax burden or have a desire to create a charitable fund for your future donations - learn more about it like Fred and Wilma! Mike Richie - Faribault Foundation Board Member “Oh, not again,” moans Fred as Dino barrels through the front door, happily leaping on his master and knocking him flat on his back. “Dino, down boy, down! Wilma! Can you grab