INDUSTRY INSIGHT
Constructing A New Way To Give Nancy Zallek has had an interesting career path. From running her family retail business to a nonprofit ballet company to a multimilliondollar community foundation, Zallek has done a lot over the years. But Zallek, the president and CEO of Mankato Area Foundation, never anticipated she would one day be researching the market value of construction equipment. “I never know what’s going to happen next when my phone rings,” Zallek said, laughing. “But even this one surprised me.” The call came from Tom Hoehn, owner of Hoehn Drainage and Excavating. Hoehn had been planning to advertise and sell an excavator once used as part of his business, but when Hoehn told his financial advisor, Ryan McKeown, of Wealth Enhancement Group, of his plans, McKeown suggested Hoehn think outside the box. Why not donate the excavator to the Mankato Area Foundation? “Tom’s equipment had recently appreciated in value due to supply and demand,” McKeown said. “And since he had a strong history of charitable giving, I thought he might enjoy and benefit from a creative gift to the Foundation.”
As the holiday season approaches this year, it’s more important than ever to reflect on the good in our lives. At the Mankato Area Foundation, we are grateful for our donors and their endless generosity. Thanks to our donors, we disbursed over 601 grants totaling $2.2 million to regional nonprofits in 2021. Please consider how you can join in making a difference for our communities. There are many ways to give to the Foundation. You can contribute a variety of assets such as: cash, non-cash assets, stocks and securities, mutual funds, IRAs, life insurance, real estate and assets of other trusts or of a private foundation. Together, giving looks good on us. Pictured above: Marian Anderson Memorial Sculpture and Children’s Museum of Southern Minnesota
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November | December 2021
