Inside Track: 3 firms honored for their giving

Three Minnesota companies will be recognized for their "generous contributions" to Minnesota communities at the Minnesota Keystone Program recognition luncheon Wednesday at the Hyatt Regency Minneapolis.

Northeast Bank, Gray Plant Mooty and Comcast were selected from among 200-plus Keystone member companies that donate at least 2 percent of pre-tax earnings to nonprofits and schools.

Northeast Bank of Minneapolis, winner in the small-business category, donates at least 5 percent of its profit, the Northeast Bank foundation invests another $100,000 annually, and the bank's 75 employees donated more than 3,500 hours to support community projects and events.

The law firm Gray Plant Mooty, a 20-year Keystone member, contributes 5 percent or more of profit, and employees assist Habitat for Humanity, the United Way and the Jeremiah Program, a local nonprofit that assists single mothers working on an education and headed for careers. In 2008, Gray Plant Mooty also donated 3 percent of its collective billable staff time to pro bono projects.

Comcast, the winner in the large-company category with more than 500 employees, returns 2 percent of its profit to the community. Comcast employees volunteer at more than 50 Twin Cities nonprofits.

"Each of these companies makes a huge difference in the community," said Todd Klingel, CEO of the Minneapolis Regional Chamber of Commerce, sponsor of the Keystone Awards. "Minnesota corporations give back at a rate that is double the national average, and Minnesota Keystone celebrates this generosity."

For more information or to buy tickets to the awards luncheon: 612-370-9100 or www.minneapolischamber.org.

There will be fewer holiday office parties this year than last and less will be spent in Minnesota and elsewhere.

Despite hints of economic recovery, only 62 percent of companies are planning holiday parties this year; that's down from 77 percent a year ago, according to a Challenger survey. In 2007, 90 percent of companies surveyed were planning holiday parties.

"For companies that have recently announced layoffs or other significant cost-cutting measures, such as wage freezes, it would be difficult to justify, let alone get in the mood for, a holiday party," CEO John Challenger said this month.

Understated gatherings and partying with a purpose may be in vogue.

For example, communications firm Padilla Speer Beardsley will host a headquarters reception for staff and kids from Hearthstone of Minnesota, which houses and treats youth with a variety of severe emotional and behavioral issues.

It's one of four quarterly events for charities hosted by PSB.

Also, the Twin Cities Hedge Funds Care Committee, which canceled its holiday cocktail party last year amid rough waters for some investment outfits, is back with "Cocktails for Charity" to raise funds for agencies that protect kids from abuse and neglect.

Nationally, the hedge fund industry has raised $21 million over the past decade from events in Atlanta, Boston, Chicago, the Twin Cities, New York and California.

The revived stock market and early indications of economic improvement could mean a higher fourth-quarter take for charities.

Wells Fargo employees pledged $4.24 million to Minnesota nonprofits and schools this year through its annual Community Support and United Way Campaign, up 7 percent over 2008.

"I continue to be amazed by the remarkable dedication and compassion our team shows by generously investing their time, energy, and personal financial resources in our communities," said Jon Campbell, CEO of Wells Fargo's Minnesota region.

Across the nation, Wells Fargo employees donated $42 million to 25,000 nonprofits and schools through the campaign, a 21 percent increase over combined Wells Fargo and Wachovia campaigns last year.

Wells Fargo acquired Wachovia a year ago.

NEAL ST. ANTHONY