North Star Resource Group contributes $50,000 for rebuilding Minneapolis businesses
MINNEAPOLIS — June 15, 2020 — North Star Resource Group, headquartered in Minneapolis/St. Paul since 1908, is donating $50,000 to two community service organizations contributing to rebuilding the Twin Cities.
Over 1,500 commercial properties and small businesses face property damage1 from the riots and fires that spread throughout parts of Minneapolis and St. Paul following the death of George Floyd in Minneapolis police custody.
North Star will provide funds to The Twin Cities Rebuild for the Future Fund and We Love Lake Street.
The Twin Cities Rebuild for the Future Fund will provide immediate support to small businesses owned by Black, Indigenous and People of Color that were destroyed during the civil unrest. Funding will cover repairs, equipment, technology, building materials, relocation expenses and more.
We Love Lake Street will donate 100 percent of funds raised to help rebuild Lake Street in Minneapolis, a hot spot for the damage. The fund will start with direct support to small businesses and nonprofits to help rebuild storefronts, reopen small businesses and serve the needs in the local neighborhoods.
The announcement of the financial donation follows a recent statement on social media from North Star’s leadership condemning racism and calling for a pursuit of equality and equity within the firm and throughout the nation. The statement included a promise: “North Star will continue to learn and do what we can.”
“Our firm announcement is joined by an outpouring of support from our advisors and team members,” says North Star CEO Ed Deutschlander, CLU, CLF. “Many associates are using the firm’s charitable donation matching program to support local nonprofits and programs they resonate with personally. Many have marched in peaceful protest or have picked up the broom to clean the streets after destruction.”
“This is a chance for our firm’s actions to speak louder than our words,” says Deutschlander. “We still have a long way to go. We must strive to do better, together.”
About North Star Resource Group
North Star Resource Group is a Minneapolis-based financial services firm that provides individuals, families and businesses with the resources needed to create, preserve and protect their wealth. With a network of 170 advisors in 22 states, North Star has contributed to the financial security and well-being of over 140,000 individuals.* Additionally, North Star contributes 10 percent of profits each year to worthy nonprofits through the Scott Richards North Star Foundation, totaling $5 million donated since 2004. To learn more about North Star Resource Group, visit www.northstarfinancial.com.
*Data as of December 31, 2019
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If you would like more information about this topic, please call Megan Temte at 612.617.6018, or email at megan.temte@northstarfinancial.com.
1Penrod, J., Sinner, C.J., & Webster, M. J. (2020, June 13). Buildings damaged in Minneapolis, St. Paul after riots. Star Tribune. Retrieved from https://www.startribune.com/minneapolis-st-paul-buildings-are-damaged-looted-after-george-floyd-protests-riots/569930671/