Jan. 8—ROCHESTER — Tim Penny is retiring as president and CEO of the Southern Minnesota Initiative Foundation after serving in the post for 18 years, the organization announced.
Penny will likely step down in May, as the process to find a successor is just getting started, an official said.
Under Penny’s leadership, the foundation supported efforts in early childhood development, small businesses and economic growth across southern Minnesota through its grants and partnerships.
Penny served in Congress representing Minnesota’s First Congressional District for 12 years, and before that in the state Senate for six. Penny also made an unsuccessful bid for governor in 2002. While in Congress, Penny focused on budget issues and chaired the Porkbusters Coalition. He has co-authored three books: “Common Cents,” “The 15 Biggest Lies in Politics,” and “Payment Due.”
“Serving southern Minnesota has been the honor of my life,” Penny said in a statement. “From my time in Congress to leading this incredible organization, my roots, my family and my passion have always been here.”
Addressing the region’s critical child care shortage became an emphasis under his tenure as foundation president. A $1 million planned gift helped bolster the foundation’s initiatives to train child care workers.
Another goal was getting books in the hands of children. Partnerships with publishers enabled the distribution of more than 20,000 books annually to schools, libraries and community organizations serving children under 8. SMIF’s early childhood programs now reach more than 32,000 children each year, fostering early literacy, the statement said.
Supporting entrepreneurs in the region has also been a focus of Penny’s. An entrepreneur fund expanded by more than $1 million during his leadership, helping provide resources to small businesses and startups.
“Whether visiting breweries, cafes or food trucks, I can proudly say SMIF has played a role in supporting these entrepreneurs,” he said.
In 2017, Penny refocused SMIF’s efforts on revitalizing small towns, launching programs such as the Small Town Grant program and the growth of its Community Foundations and expanding the foundation’s reach.
When the COVID-19 pandemic hit, SMIF helped distribute more than $22 million in federal relief funds to small businesses, communities and childcare providers.
“Small towns are the heartbeat of southern Minnesota,” Penny said. “These communities hold so much potential, and it has been a privilege to help them thrive through our programs and initiatives.”