This morning we met with Sheri Dankert at the Hormel Foundation. The Foundation was established as the trustee for George and Jay Hormel, they vote on 46.6% of the stock which protects the company from takeovers, and they provide financial support to the Austin community. Students learned about how the Family Trust works and how that will greatly impact the community of Austin starting in 2042 as those dividends will return to The Hormel Foundation. It has a board of 19 members who meet seven times a year officially and other times as needed. The members of the board represent supported agencies and have at large members as well.

Big understandings:
- Many organizations in our community benefit from the grants through The Hormel Foundation
- The family trust will end in 2042 and at that point all dividends paid to the family members will then come to the Foundation
- There are great possibilities for the community based off of what is coming in the future
- There is a wide variety of jobs in philanthropy

Thank you Sheri for a great visit and the Hormel Foundation for your continued support of the CEO Program.