MINNEAPOLIS (June 10, 2020) -- In response to the murder of George Floyd and the deeply ingrained systemic racism in our country, the Pohlad Family announced today that it is committing $25 million to racial justice, bringing to bear resources of the Pohlad Family Foundation, Pohlad family members, and Pohlad Companies in a two-phased, community-based approach.
"Black people have experienced oppression and racism for far too long in this country," said Bill Pohlad, president of the Pohlad Family Foundation. "We condemn racism in all its forms, and we are firmly committed to helping to enact meaningful change. We know this will take time and effort, and we are committed to this work beyond this seminal moment in our country's history."
In the short term, the Pohlads are focused on providing immediate relief and rebuilding organizations in impacted communities. In addition to encouraging employee volunteerism and matching employee donations across Pohlad Companies, the Pohlad Family Foundation will support grassroots organizations doing this important work. The Pohlad organization also plans to work with local government, philanthropic organizations and the business community to help rebuild businesses that have been destroyed, with the goal of ensuring the continued cultural diversity and affordability of the local areas.
Over the long term, the Pohlad family will focus on impacting structural change through the Foundation. They will partner with other equally committed organizations to help change the systems that create racial inequities and marginalize people of color.
The commitment of $25 million is in addition to the ongoing work of the Pohlad Family Foundation in the areas of homelessness and housing stability.
"As we undertake these additional efforts in racial justice, we will take the time to listen and learn from the community first. We believe that people are experts in their own lives, and to make lasting change, we must learn from their lived experience," said Susan Bass Roberts, vice president and executive director, Pohlad Family Foundation. "Our goal is to work in community to identify and support solutions that reflect the input of those closest to the issue and address their greatest needs."
"While we are determined to help affect change in our community, we also know that any real change must start from within," added Pohlad. "And so, we acknowledge that we have our own work to do and are working to strengthen diversity and inclusion in our organization."
About Pohlad Family Foundation
The Pohlad Family Foundation's mission is to improve the quality of life and opportunities for those most in need in the Twin Cities region. Our strategic focus is to improve housing stability with the goal of preventing and ending homelessness among families and youth in the Twin Cities. We use four strategies: 1) catch youth and families before they experience homelessness; 2) fund housing affordability solutions; 3) address systemic change; and 4) create awareness and galvanize support. To learn more about the Foundation's history and focus, visit pohladfoundation.org.
About Pohlad Companies
Founded by Carl R. Pohlad in the 1950s, the Pohlad Companies had its start in the banking and soft-drink bottling industries. Now managed by his three sons Jim, Robert and Bill, with third generation family members actively involved, the organization has four primary business groups. Operating Companies includes ownership and management of firms in diverse industries such as commercial real estate mortgage banking (NorthMarq), automobiles (Carousel Motor Group) and automation (PaR Systems); Real Estate includes commercial real estate development and investment activities, principally through United Properties LLC.; Sports and Entertainment comprises investments in the sports and entertainment industries including the Minnesota Twins Major League Baseball Club; and Investments includes direct and non-control investments in privately held companies and in financial instruments of varying duration and type. The Pohlad family and the Pohlad Companies have a deep commitment to the communities where they live and work, demonstrated through the Pohlad Family Foundation, along with the giving and engagement initiatives of its operating businesses and employees. To learn more, visit pohladcompanies.com.
As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people. NorthMarq is owned by Pohlad Companies.