This morning we met with the Hormel Foundation. We heard from three members of The Foundation: Bonnie Rietz, Sheri Dankert, and Roland Gentzler. The Foundation was created in 1941, it votes 48% of Hormel stock, and receives 5% of the dividends from from the stock. It has a board of 19 members who meet seven times a year officially and other times as needed. The members of the board represent supported agencies and then they have at large members as well. The Foundation was established as the trustee for George and Jay Hormel, they vote on 48% of the stock which protects the company from takeovers, and they provide financial support to the Austin community. Students learned about how the Family Trusts work and how that will greatly impact the community of Austin starting in 2042 as those dividends will return to The Foundation. Some examples that are currently being supported by The Foundation are The Austin Assurance Scholarship, the MacPhail/Annex expansion, the Community Rec Center, and Cedar River Watershed to name a few. Organizations fill out applications in order to be considered for funding and they must be in the Austin area and must be a charitable organization. Students participated in a brainstorm session about what they would do with the dollars available to support the community. They had a good conversation about the different needs and ways to improve the community and their schools. It was great to see though their eyes what they see as needs and how they recognize what others around them may need as well. It was a very informative morning with The Hormel Foundation! Austin Public Schools Pacelli Catholic Schools