Bethlehem Foundation Supports Southside Legacy Fund

The reputation the Bethlehem Foundation has built over the years as a financially sound and mission-driven organization gives us the opportunity, at times, to play a leadership role in helping other organizations with their stewardship efforts as well. A decade ago, a former Lutheran church on E. 38th Street in South Minneapolis became Southside Commons, which provided office and meeting spaces for local nonprofits, churches and artists. The building was owned and managed by a nonprofit corporation. Unfortunately, rental income covered operating expenses but funds were not available for much-needed major repairs and renovation. The board of Southside Commons sold the building to an adult daycare provider for about $1 million.
 
The legacy of that sale will continue, however, and the Bethlehem Foundation is helping. The Southside Common Board decided to use the sale proceeds for grants, primarily to South Minneapolis organizations that are making a difference in the community. The corporate name was changed from Southside Commons to Southside Legacy Fund, and the board contracted with the Bethlehem Foundation to be its fiduciary agent, to invest the funds and administer the grants.  In exchange, the Foundation received 5% of the sale proceeds.
 
Grant-making is now underway, with the first significant grant going to Community Emergency Services (CES). This non-profit, long supported by Bethlehem Lutheran Church Twin Cities, provides food shelf services, home food delivery to the homebound, and Meals on Wheels to seniors. We’re proud to help the Southside Legacy Fund strengthen our community.