PIERRE - The South Dakota Community Foundation plans a 20th anniversary celebration Oct. 15 in Pierre.

Bob Sutton, president of the foundation, said the event will include discussions of accomplishments and will unveil goals for the next five years. The Pierre-based foundation is ready for its next stage, he said.

The foundation's mission is to promote philanthropy, receive and administer charitable gifts and invest in a wide range of programs promoting the social and economic well being of the people of South Dakota, the organization says on its Web site.

It was created in 1987 by the late Gov. George S. Mickelson and memorializes South Dakota native William L. McKnight, former CEO of 3M Corp. and founder of the McKnight Foundation, which committed up to $3 million to match funds raised privately by the South Dakota Community Foundation. The 3M Foundation and the state also each committed $2 million.

Since its inception, the South Dakota Community Foundation has awarded more than $28 million in grants for charitable causes and projects throughout the state.

Sutton said the goal is to reach $100 million in endowed assets by the 25th anniversary in 2012.