Media Center

For Immediate Release
June 26, 2006

 MINNEAPOLIS, MN – In an effort to serve growing social needs and changing economic trends, Vasa Valley Companies of Eden Prairie, Minnesota announces the opening of a new corporate division, The Foundation Network.  The Foundation Network will be doing business in Minnesota over the next few months as the infrastructure is built to support a national roll out in 2007.

 “We saw a grassroots need for a turnkey philanthropy system that would support communities on a local and national scale,” said Michael Nelson, CEO of Vasa Valley Companies.  “There is a growing movement on the part of government to encourage the private sector to help solve social needs and problems on the local level.  The Foundation Network was created to drive this effort.”

 There are several trends that are driving future products and services through The Foundation Network.  The largest trend is the $45 trillion dollars that is currently transferring from the current senior generation to the baby boomers.  Many people who receive this wealth are not prepared to manage sudden wealth, or aware of what it takes to protect it and make the assets grow.  In addition, many people are simply not well equipped to think about charitable giving and philanthropy as a business and a way of life.

 “We identified a need to educate people about the transfer of wealth and how to become wise stewards,” said Nelson.  “Most people will agree that giving a portion of your wealth to charity, no matter what size, is a good idea.  What’s missing is the educational piece – how to work with philanthropy as a wealth building strategy and how to leverage the resources you have.  The Foundation Network is a wealth development, management and preservation company.  Many of our future products and services will have a philanthropic design.”

Early in 2006, to aid in the  administration and IRS reporting for its philanthropic accounts, The Foundation Network secured a strategic alliance with a national management firm.  Since 1968 this firm has maintained a strong track record of fiscal management for public non-profits. 

 “Our long term goal is to educate and support the general public about the personal and collaborative power that philanthropic accounts can have on any community,” said Nelson. 

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