New Leadership at Frey Foundation of Minnesota
Carol Frey Wolfe becomes President and CEO; Jim Frey retires after longtime stewardship of Twin Cities-based philanthropic organization.
MINNEAPOLIS — April 23, 2020 — At a time of unprecedented community crisis and urgent need, Frey Foundation of Minnesota, which seeks to strengthen the community through direct giving to organizations that promote self-sufficiency and stimulate creative change, is working to support nonprofits supplying basic needs in Minnesota.
The foundation today announces a long-planned transition in leadership. After 15 years as president and CEO of the Twin Cities-based philanthropic organization, Jim Frey is retiring. His sister, Carol Frey Wolfe, who has served as vice-president of the foundation since 2004, will become president and CEO.
“The situation unfolding before our eyes is changing the landscape. Philanthropy has never been more important or relevant than it is at this precise moment; Frey Foundation is collaborating with non-profit partners at the frontlines and the public sector to propel crucial efforts forward,” says Jim Frey. “I am proud to pass the torch to my sister Carol Frey Wolfe — under her leadership, our family foundation will continue to serve, explore and innovate at this particularly critical time for philanthropic organizations like ours.”
“In this urgent crisis, the power of public/private partnerships is made clearer than ever. Through our direct connections with nonprofits as well as public and government entities, we can target urgent basic needs in the community to quickly get assistance to those most in need,” says Carol Frey Wolfe, new president and CEO, Frey Foundation. “I’m honored to transition to this new role in our family foundation; my brother’s mentorship and guidance has been invaluable to me as we have worked closely together over the years to further the mission of the foundation.” Jim Frey will remain a director on the foundation’s board and will continue to consult with the family office as well as serve on other boards.
The Frey Foundation has taken immediate steps to support nonprofits and the community:
Contributed to emergency response funds
Signed a pledge of action to support current partners and provide reassurance of continued support
Relaxed restrictions on grant funding to make funding as flexible as possible
Shifted its Board meeting cycle time to expedite distribution of funds
“This crisis reminds us of our humanity and our interconnectedness as a community, and I am confident that together, we will navigate through these unprecedented times. Carol is well-equipped to continue the important work for which the foundation is known,” says Frey Foundation founder and board chair, Gene Frey. “We are so thankful for Jim’s many years of steady, dedicated service and are happy to welcome Carol as president and CEO of the foundation to lead us forward to meet new challenges ahead.”
The foundation most recently expanded in September, with the addition of Flor Treviño Frey, the first member of the family’s third generation to join the management team.
Frey Foundation funds creative nonprofits in the Minneapolis/St. Paul metro area to generate better ideas for the community. The foundation seeks to strengthen the community through direct giving to organizations that promote self-sufficiency and stimulate creative change, resulting in improved quality of life for all. It gives priority to organizations in supportive affordable housing, education and health and human services. Frey Foundation was founded by Eugene and Mary Frey in 1988, is a reflection of the family’s long-standing commitment to the community. When the family business, Waldorf Corporation, was sold in 1997, the foundation grew to support more organizations, seeking out nonprofits engaged in meaningful change in the community. For the Frey family, the foundation has become an integral part of family life and an important link between generations. For more, visit FreyFoundationMN.org.
###
Three generations of family actively manage the Frey Foundation of Minnesota. Pictured from left to right: Carol Frey Wolfe, Gene Frey, Jim Frey, Flor Frey.