If there ever was a time that re-affirmed the importance of permanent sources of philanthropic support like the Community Foundation, it is now. During a chaotic time of diminished government support and declining corporate and individual contributions benefitting many not-for-profits, the Community Foundation’s grants have remained roughly constant for several years.
How it Breaks Down. About 60% of the dollars in our 500 component funds are unrestricted –representing gifts, bequests and legacies from many donors over the last 83 years given flexibly to address the greatest needs in our community or subject to broad preferences. These funds annually generate more than $2 million for our Community Grants and Initiatives program. The remaining 40% are split among Donor Advised Funds from which donors, families or businesses recommend grants on an ongoing basis, Designated Funds supporting specified not-for-profits, Agency Funds established to build endowment for local not-for-profits and Scholarships for
numerous purposes.
Our Approach. I’m often asked about how we manage our grants and operations. To determine our grants budget each year, we take 5% of the 20- quarter rolling average balance of each fund – thus evening out the effect of wild swings in asset balances on the amount available for spending each quarter. We’ve also taken affirmative steps to stabilize our grants budget, such as: (a) generating new gifts and bequests to permanent funds; (b) reducing administrative overhead and not filling open staff positions; and (c) abiding by our spending policy in up and down years alike.
A Sustainable Community. How can our community be sustainable, in every sense of the word?
One way is through the expansion of endowed philanthropic support. We are a force for stimulating philanthropy in our region – a platform for charitable legacies addressing pressing regional issues. For donors who give to our Community Fund or through our many other philanthropic fund options, we strive to demonstrate creativity, stewardship, discipline and a long-term outlook. Our growth helps foster a sustainable community. As I approach the end of my second year leading the Community Foundation, I want to recognize our board members for their dedication – in particular Mansukh Shah and Paul Nojaim, who will rotate off our board in June. Thank you again for your service to the Community Foundation and the community at large.