Riedel Foundation celebrates awarding $7.5 million in Hannibal grants over the past 25 years

HANNIBAL, Mo. — The George H. Riedel Private Foundation recently celebrated 25 years of service to the Hannibal community.

At its annual reception, the Riedel Foundation recognized the non-profit agencies that received grants in 2024 and looked back at the early days of the Riedel trust fund. Since its start in 2000, the Riedel Foundation has awarded approximately $7.5 million to Hannibal non-profits.

In a press release, Riedel Foundation lead trustee Michael Bukstein said, “We’ve been diligent about being good stewards of Mr. Riedel’s trust. When he died, George Riedel left $5.4 million in the trust, with one primary restriction: the money could only benefit Hannibal residents through non-profit agencies. Here we are 25 years later, and thanks to wise investments and a strong market, we have more than $6 million in the account today. Keep in mind, this is all from Mr. Riedel’s original bequest. We haven’t accepted any donations. It’s our hope that we can continue this trend for the next 25 years and more.”

Bukstein, along with Riedel trustees Paul Richards and Bill Craigmiles, were recognized for 25 years of service, having acted as trustees since the foundation started. F&M Bank, which holds the trust, was recognized for its contribution to the foundation, including providing free office and meeting space.

George Riedel and his father were presidents of F&M Bank for more than 90 years. April Baldwin, chief operating officer at F&M, has been a trustee since 2016. Hannibal Arts Council Director Michael Gaines joined the trustees in 2022.

Looking back over 2024, Riedel administrator Sarah Deien said the foundation awarded 30 grants totaling more than $315,000.

“Our grants this year focused on children in many ways, including the safety, education, health and entertainment of our children,” Deien said. “We continued to be big supporters of the arts and awarded several grants to feed the hungry, as food insecurity continues to be an issue.”

Deien said the list of grant award winners features many familiar organizations in Hannibal, but since the Riedel Foundation has been working on its visibility in the community, the number of first-time applicants has increased.

CHADS Coalition for Mental Health received a grant for a suicide prevention program in the Hannibal schools. Saving KidSight received money for vision screenings at preschools and daycares. The trustees awarded a grant to put on Eagle Days in Hannibal and help fund the Fort Mason War Monument, which is under construction. A $10,000 matching grant will help improve the road to Riverside Cemetery, where George H. Riedel is buried. All of these grants were awarded to first-time applicants.

The YMCA of Hannibal always receives the largest Riedel grant. At the reception, the trustees announced its 2025 allocation of $108,000. That will fund scholarships and a swim safety program for Hannibal third graders. The YMCA was an important cause to Mr. Riedel, so keeping that in mind, the trustees award roughly a third of each year’s available grant money to the organization.

The CEO of the YMCA of Hannibal, Eric Abts, talked about the ways that the Riedel legacy has helped the Y.

“It’s largely because of Riedel grant money which funds scholarships that everyone has a chance to enjoy what the YMCA offers, regardless of income,” he said.

To recognize the Riedel Foundation’s commitment to the YMCA of Hannibal, Abts announced that the Riedel logo will be added to the floor of the gymnasium.

Of the $315,000 the Riedel Foundation awarded in 2024, more than $62,000 was offered in the form of matching grants.

“Matching grants don’t work in every situation, but when they can be applied, they really increase the impact of the grant,” Deien said. “They are a great incentive for people to donate to meet the Riedel match. So rather than the foundation just writing a check, it encourages active giving and participation in a cause that is meaningful to the donor.”

Deien said above all, the Riedel Foundation thanks its non-profit organization partners.

“We are a funding source, but you are the heart and soul of what we do, which is to try to make Hannibal an even better place to live,” she said.