April 25, 2024
SFM expands charitable giving, reaches new milestone
SFM has long had a goal to increase the percentage of its charitable giving to 2% of pre-tax profit.
And the company will reach that threshold in 2024.
“SFM is proud of our commitment to giving back to the communities we serve,” said Terry Miller, President and CEO. “Reaching this milestone is a major accomplishment and further cements SFM as a leader in the communities we live and work — as evidenced by our corporate philanthropy.”
With the additional charitable funds set to be issued in 2024, SFM has become a member of the Minnesota Keystone Program, which promotes corporate philanthropy by recognizing and honoring companies that donate at least 2 percent of their pre-tax earnings to charitable organizations. Some of the state’s largest and most well-known employers are part of the program.
In 2023, SFM contributed to more than 200 charitable organizations. Strategic Business Units previously made many of the decisions about where funding would go. But in 2024, teams within SFM will have a bank of funds and decide which organizations receive charitable donations.
“I like that a lot of it goes through the employees,” said Dave Kaiser, SFM’s Senior Vice President and Chief Operating Officer. “Then they’re deciding how to give back to the community that’s close to them. It makes people feel more of a part of what we’re doing.”
In addition to direct donations, SFM gives back in a number of other ways, including:
- The SFM Foundation
- Its internal Connecting to Communities (C2C) committee
- External applications for donations
- The Bob Lund Scholarship
- Volunteer efforts
“Being part of the Minnesota Keystone Program is great, but it’s just a good thing to be a good corporate citizen,” Kaiser said. “We feel a responsibility to support nonprofits and are proud of what SFM and our employees do for the communities we serve.”
About the Minnesota Keystone Program
The Minnesota Keystone Program, administered by the Minneapolis Regional Chamber, promotes corporate philanthropy by recognizing and honoring companies that donate at least 2 percent of their pre-tax earnings to charitable organizations. In 1976, 23 Minnesota companies created this program (originally known as The 5% Club) to recognize and encourage charitable giving in the state. The commitment of Minnesota Keystone participants continues to serve as an example to other businesses, both here and around the globe, and to sustain Minnesota’s spirit of generosity and sense of community. Qualifying companies have an operating presence in Minnesota and donate cash or in-kind donations, including pro-bono services, and/or employee paid volunteer time. For more information, visit www.minnesotakeystone.org .
