Stock Deal Boosts Margaret A. Cargill Foundation
A recent move by Wayzata-based Cargill, Inc., will free up millions of dollars that will reportedly make the Margaret A. Cargill Foundation one of the nation's biggest charitable organizations.
According to the Star Tribune, Cargill's recent spinoff of its 64 percent stake in The Mosaic Company means that the foundation and its sister organization-Anne Ray Charitable Trust-will split an estimated $8 billion.
The additional cash will transform the Margaret A. Cargill Foundation into one of the nation's 15-largest foundations based on assets and makes it at least twice the size of Minnesota's next-largest foundation, Minneapolis-based the McKnight Foundation, according to the Star Tribune.
The Minneapolis newspaper reported that the foundation's top three focus areas are the environment, arts and culture, and relief, recovery, and development.
To learn more about the foundation and its plans for the future in the Star Tribune, click here.