Lenox Foundation Inc

What is the Lenox Foundation? It is a tax exempt organization that exists to raise funds to support the mission of the St. Louis Park Senior Program which is “to improve and enhance the lives of adults age 55 and over in St. Louis Park and our broader community.” For a complete listing of Senior Program classes and activities, visit  http://www.slpcommunityed.com/senior.html.

Who does the Lenox Foundation serve? It serves, exclusively, the St. Louis Park Senior Program located at the Lenox Community Center, 6715 Minnetonka Blvd., St. Louis Park, MN 55426, and the seniors whose lives are enhanced by its curriculum.

What is the relationship between the Lenox Foundation and the St. Louis Park Senior Program? The Lenox Foundation helps to support the many wonderful programs that are offered for seniors. The Foundation provides consistent support for the Senior Program’s future .

What is its history? In March 1986 the articles of incorporation were signed. 375 donors became members of the Founders Club in 1988 and raised nearly $19,000 to start the fund. The St. Louis Park School district was the fiscal agent until 2004 when the principal was transferred to the Minnesota Community Foundation to invest.

Who is the Minnesota Community Foundation and what is its relationship to the Lenox Foundation? Lenox Foundation funds are managed by the MN Community Foundation which is made up of many individual foundations throughout Minnesota. All of the interest on our funds is returned semi-annually to support the St. Louis Park Senior Program. As we build the size of our endowment through generous contributions, the interest also grows and the give-back increases.

What is the current principal? Why can’t the principal be used instead of just the interest? The current principal is over $218,000. The Foundation wants to sustain the St. Louis Park Senior Program into the future. By expanding the fund balance, the interest also increases without using any of the principal.

Who gives to the Foundation? The Foundation grows through members and friends of the Senior Program who want to see this wonderful program continue for many years in St. Louis Park.