Northland Foundation president to retire
The founding president of the Northland Foundation -- which has raised $110 million since its inception -- is retiring after nearly 30 years. Tom Renier of Duluth will retire in December. He was hired by the foundation's first board of trustees i...
The founding president of the Northland Foundation - which has raised $110 million since its inception - is retiring after nearly 30 years.
Tom Renier of Duluth will retire in December. He was hired by the foundation’s first board of trustees in 1986.
The foundation was built as an unrestricted endowment that has grown to nearly $60 million, and provided about $53 million in loans to small and medium-sized businesses. It has leveraged more than $280 million in additional investments and helped create or save more than 6,700 jobs, according to Jeanine Dahl of the Northland Foundation.
It also has awarded more than $28 million to regional nonprofits, created and operated a program for children - Kids Plus - and developed three assisted-living facilities in the area.
Renier said he plans to serve on several boards in his retirement, including those for the Minnesota State Colleges and Universities system and Area Partnership for Economic Expansion.
The nearly three decades spent with the foundation have been an honor, Renier said in a news release, commending the accomplishments of staff, trustees and others involved with the organization.
“I can move on knowing that all the pieces are in place for Northland Foundation to continue growing as a strong regional resource for years to come,” he said.
The board has hired a search firm to find a new president.