Mankato, MN (December 19, 2023) — Glen Taylor has announced the start of a new charitable legacy plan that will fund a wide range of philanthropic activities for decades to come. Taylor is gifting assets valued at $172 million with the goal of supporting people in southern Minnesota and rural communities across Minnesota and Iowa.
“The good people of this region have been crucial to my personal growth and success of my businesses,” said Taylor. “It brings me such joy to be in a position where I can give back some of what I have received.”
The donation is the first phase of a larger charitable plan consistent with Taylor’s personal giving priorities. While most widely known for the printing company that bears his name and as the majority owner of the Minnesota Timberwolves and Lynx professional sports teams, Taylor has a long history of funding philanthropic initiatives related to childhood education, rural community revitalization, environmental sustainability, and the social well-being of families in need. The gift will create a financial framework to support these and other causes for future generations in the area Glen Taylor still calls home.
“My heart has always been with the children and families of southern Minnesota,” said Taylor. “I grew up on a small farm not far from here during some very lean times and I carry those memories with me to this day. I hope to make a lasting, positive impact on the lives of future generations by working in partnership with these amazing nonprofit organizations.”
Specifically, Taylor has formed The Taylor Family Farms Foundation to fulfill this mission by working in partnership with three nonprofit organizations: the Mankato Area Foundation (MAF), Southern Minnesota Initiative Foundation (SMIF), and Saint Paul & Minnesota Foundation (SPMF). “These three organizations were hand-picked because of their regional expertise and their shared focus on creating vibrant communities,” added Taylor.
Taylor’s donation is comprised of parcels of farmland located in Minnesota and Iowa. Income generated by the farmland will be distributed to the three partner foundations for continuous reinvestment in the region where Taylor grew up, raised his family, built businesses, and employs thousands of people.
The Mankato Area Foundation was selected due to its longstanding history of connecting individual acts of giving with the needs of people and communities throughout the region.
Nancy Zallek, President and CEO of MAF, said, “When an individual achieves the level of success that Glen has, planning for their charitable legacy is complex but also incredibly personal. I am aware Glen has been carefully crafting his philanthropic plan for several years. Needless to say, I was honored and somewhat awestruck when I received his call. Collaborating with Glen and his team has revealed a transformational strategy that will leave a lasting impact on our region—now and into the future.”
Southern Minnesota Initiative Foundation was selected to lend south central and southeastern Minnesota exposure to the philanthropic vision and offers expertise in managing agricultural operations.
“We are pleased that Glen included SMIF as a resource to support the needs of south central and southeastern Minnesota. I’ve known Glen for a long time, and it doesn’t surprise me that he has designed a bold concept to support the area he cares about so deeply,” said Tim Penny, President and CEO of SMIF.
As the largest community foundation in Minnesota, the Saint Paul & Minnesota Foundation has a deep history of working with partners across the state to help create a Minnesota where all communities and people thrive.
“We are grateful to have the opportunity to work alongside our foundation partners in realizing Glen’s vision for southern Minnesota,” said Dr. Eric Jolly, President and CEO of SPMF. “I admire and celebrate Glen’s decision to give back to a place that he deeply loves. His generosity will not only leave a profound impact on generations in the region, but it will also reverberate throughout the state of Minnesota and beyond. What’s more, his bold and entrepreneurial approach to philanthropy provides a blueprint that will undoubtedly inspire the generosity of others.”