Mni Sota Fund receives $7M Bush Foundation grant to expand Native wealth building

Mni Sota Fund received a $7 million Community Innovation grant from the Bush Foundation to support wealth building in Native American communities in Minnesota, according to MPR News. The Minneapolis-based Community Development Financial Institution said the grant advances its $18 million capital campaign and will expand lending, financial education and homeownership support.

Andrea Reese, interim executive director of Mni Sota Fund, said the organization takes a holistic approach to financial well-being rooted in Indigenous values, according to MPR News. Of the new funding, Reese said about $4 million will increase lending for entrepreneurs, small businesses and credit building, with plans to expand statewide through partnerships in Bemidji and Duluth. Another $3 million will support staffing to grow financial literacy and home buyer education programs.

Bush Foundation grantmaking director Eileen Briggs said in a news release that the foundation supports Native-led organizations that build systems responsive to their communities.