In a sweeping act of philanthropy, 82-year-old Timberwolves owner Glen Taylor is tipping off a massive giveaway, earmarking a treasure trove of assets valued at a whopping $172 million. The charitable game plan is designed to bolster a range of causes close to Taylor's roots, with a special nod to southern Minnesota, and those good ol' rural stomping grounds in Iowa. Reflecting on his legacy and the drive behind the donation, Taylor was quoted in an interview, "I grew up on a farm, so now I want to raise money from my land venture to fund small towns," as per CBS Minnesota.
The munificent mogul has his heart set on "the children and families of southern Minnesota.” However, while Taylor is recognized for his business acumen and sports team ownership, that kind of long-term play is about more than immediate impact – it's set to change the score for generations to come, according to KSTP.
The tactical play involves forming The Taylor Family Farms Foundation, teaming up with three hand-picked, nonprofit partners: the Mankato Area Foundation (MAF), Southern Minnesota Initiative Foundation (SMIF), and Saint Paul & Minnesota Foundation (SPMF). This trio brings to the table regional savvy and a unified vision for community vitality. The fund's fuel will be derived from a collection of farmland across Minnesota and, Iowa generating ongoing income to be reinvested locally. "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 employed thousands of people," as stated by KSTP.
