FOR IMMEDIATE RELEASE October 13, 2011

Contact:

Kate Sattler Marketing & Communications Director The Minneapolis Foundation (612) 672-3835 ksattler@mplsfoundation.org

The Minneapolis Foundation Announces New Leadership for Philanthropic Services William Sternberg Brings Track Record of Leadership, Vision for Future

MINNEAPOLIS The Minneapolis Foundation is pleased to welcome William Bill Sternberg to a new leadership role as the Foundations Vice President of Philanthropic Services. In this position, he will lead the Foundations charitable giving services to individual, family, and corporate donors and position the Foundation for future growth. Sternberg has been with the Foundation since 2002 and has served as interim Vice President since May of this year. Sternberg brings more than 25 years of expertise in charitable giving and wealth management to the role. He was originally recruited by the Foundation to assist professional advisors who work with charitable families, including attorneys, financial advisors, and accountants. Over the years, his responsibilities broadened to include management of the Foundations investment partners, the development of new giving products and services, and serving the individual charitable needs of Foundation donors. Prior to joining the Minneapolis Foundation, he served as a vice president at both Piper Jaffray and Citicorp Private Bank. Among a wealth of excellent candidates, Bill demonstrated the clear vision and effective leadership needed to take the Foundation into the next phase of growth. He has deep expertise and a passion for helping individual donors and families enrich their lives and strengthen our community through charitable giving, according to Minneapolis Foundation President and CEO Sandy Vargas. The Minneapolis Foundation administers more than 1,100 charitable funds established by local residents and companies, ranging in size from ten thousand dollars to more than several million in assets. Altogether, the Foundation manages $600 million in assets, granting out around $30 million each year in accordance with individual donor interests with another $6 million distributed from an endowment to meet community needs. The Foundation provides a variety of services to donors to make giving more effective and efficient, such as highquality investment management, on-line giving tools, family philanthropy support, and connections with local charities. Currently, The Minneapolis Foundation, in partnership with United Way, administers the Minnesota Helps North Minneapolis Recovery Fund, established in May to provide a vehicle for the community to aid the people and neighborhoods affected by the May 2011 tornado. The world of charitable giving has evolved significantly in recent years with the advent of online giving and the growing public interest in the charitable sector, while our communitys needs remain significant, reflected Lynn Casey, CEO of Padilla Spear Beardsley and Chair of the Foundations Board of Trustees. We were looking for

someone with an exciting vision for building the partnerships, innovative services, and strategic investments needed to keep the Foundation at the forefront of helping donors make the greatest possible difference through their giving. Lars Leafblad, a principal at KeyStone Search, led the Foundations recruitment and hiring process. For nearly a century, The Minneapolis Foundation has helped donors support what they love and where they live to make our community a better place to live, work, and play, said Sternberg. From the arts to education, the environment to economic opportunities, our donors have shaped the success of our city. I am excited to take on this senior leadership role and partner with our donors and the broader giving community to make an even greater impact on the things they care about. For more information on The Minneapolis Foundations philanthropic services, visit www.minneapolisfoundation.org/BecomeADonor.aspx.

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The Minneapolis Foundation helps people support their community and causes they care about, and invests in efforts to ensure every person in Minneapolis has the opportunity to thrive. Established in 1915, The Minneapolis Foundation now manages more than $600 million in assets, administers more than 1,100 charitable funds and distributes approximately $36 million in grants each year. In addition, The Minneapolis Foundation works with other community leaders to improve the quality of life in our region and serve as a catalyst for discussion and action on critical issues.