Relief from 401K catch-up requirements: More money for charitable giving?
Legislation known as SECURE 2.0 contained a dizzying array of changes to the laws governing retirement plans. Passed at the end of 2022, SECURE 2.0 is 130 pages long; overall, its purpose is to encourage more retirement savings through vehicles like employer-sponsored 401(k) plans. Lately, the buzz around SECURE 2.0 has been focused on a very specific provision addressing what are known as 401(k) “catch up” contributions. A “catch up” contribution allows a worker aged 50 and older to pump more money (an extra $7500 in 2023) into their 401(k) plans, beyond the usual $22,500 statutory maximum for employee
Help Support Mental Health Education by Donating to NAMI Scholarship
NAMI Grand Rapids Area is a local affiliate of the National Alliance on Mental Illness. This local chapter of NAMI was a grass roots organization that was started about 20 years ago by several area parents with young adult children with mental illness. NAMI Grand Rapids Area is a nonprofit whose mission is to provide support, education, and advocacy for children and adults with mental illness and their families. Mental health issues have increased and become more apparent since the COVID-19 pandemic. NAMI Grand Rapids Area board members want to improve access to mental health providers. There has been a
Nashwauk Area Community Fund Annual Grant Cycle Opens September 1 – September 30
The Nashwauk Area Community Fund is a community-based fund that provides discretionary grants to projects and initiatives in the Nashwauk area to improve the quality of life for local citizens. Their grant cycle is open September 1 through September 30, 2023. This fund provides grants to 501(c)(3) and other not-for-profit organizations in the Nashwauk, Nashwauk Township, Keewatin, Buck Lake, Pengilly, Swan Lake and Goodland Township areas. You can apply for a grant through the Nashwauk Area Community Fund website at www.nashwaukfund.org and click on Applications. The Nashwauk Area Community Fund is managed through the Grand Rapids Area Community Foundation (GRACF). If you
Annual Grant Cycle Deadline is September 1
The Grand Rapids Area Community Foundation’s Annual Grant Cycle opened July 15, 2023 and will end on September 1, 2023 at 11:59pm. If you are a nonprofit group or organization that serves people of the Greater Itasca Area, (Itasca County plus Hill City, Remer, Blackduck and Northome) and need money for a project or program, please submit your application through our website, www.gracf.org, by 11:59pm on September 1, 2023. Once on our website, click on Grants and Apply for a Grant. The Grand Rapids Area Community Foundation has been connecting donors’ charitable intentions to community needs for close to
MDI awards $57,000 in scholarships to area students
MDI has awarded $2,000 higher education scholarships to 26 graduating high school students across Minnesota, as well as donating an additional $5,000 to area students through the Workforce Ready Scholarship program at the Grand Rapids Area Community Foundation. The MDI scholarship program is for applicants between the ages of 18 and 21 who live in or near the communities the nonprofit manufacturer serves (Minneapolis, Hibbing, Grand Rapids and Cohasset). This is the most scholarships MDI has awarded since the founding of its scholarship program 11 years ago. “MDI is deeply committed to supporting the communities where we live
