|
|
|
|
HISTORY INTRODUCTION THE REUTER FOUNDATION is a family foundation founded in 1988 as a provider of human services to the
poor, needy and disadvantaged and to assist other organizations that provide
human services to this population. It
was originally incorporated in
The Foundation is a nonprofit charitable corporation qualified under the Internal Revenue Service guidelines for 501 (C) (3) charitable organizations. Donations to it are tax deductible.
Since its inception, the Foundation has concentrated its grant awards on emergency assistance to the poor and needy, services and rehabilitation for individuals with chemical dependencies, abused women, low-cost housing, and innovative medical research.
In 1995 the Foundation founded THE FIRST CREDIT FUND. This organization provided zero interest loans to individuals who did not qualify for regular bank loans. Loans of up to $1,200 were made with three year paybacks. The program was administered by volunteers from Catholic Charities, Key Bank and Bank One. The program was designed to help those coming out of prison, out of transitional housing programs, and the working poor. The program was discontinued in 1998 because of the availability of very low cost loans from other service providers.
In 1996 the Foundation formed WOMEN'S HOUSING CORP. and purchased a 16 unit apartment building to provide a safe, affordable residence for women coming out of two year chemical dependency programs. The Foundation partners with various transitional housing groups that provide referrals to its apartments.
Grants from the Foundation are normally between $2,000 and $35,000 and are made only to nonprofit tax-exempt organizations, or to government agencies. Currently the Foundation assets are about $8 million, and it gives out about $400,000 to needy causes each year. There are always more requests for grants than money available.
The Foundation officers are children of the founder. Trustees consist of both family members and outside volunteers.
1998-2008 |
|
||||||||||||||||
