Milestone Achievement: $50 mil in Assets
The Community Foundation of NCW has achieved a significant milestone in the field, marking $50 million in assets. Established in 1986, the foundation began with $2 million in assets and has grown through local donors investing in funds that allow safe, effective charitable giving to the causes they care about.
“This is a great accomplishment for our region of rural communities, especially when it’s not considered one of high net worth” said Executive Director Beth Stipe. “It’s really indicative of the generosity in our region and the interest people have in giving back to their community.”
The recent growth in assets has come from donors who have established donor advised funds that allow them to recommend grants to their favorite causes, as well as scholarship funds that have been established to support college education for local students. The most significant portion of asset growth has come from bequests that will allow the donor’s charitable giving to continue long beyond their lifetime.
Of the 24 community foundations in Washington State, the Community Foundation of NCW now ranks 5th in asset size, which indicates a high percentage of giving for its population size.
“We understand philanthropy and advise our donors on how to make the best impact in the areas they are passionate about while also addressing community needs through grant making and supporting our region’s nonprofits” said Stipe. “Our donors make it all possible.”
In 2012, the Community Foundation of NCW received $3.4 mil in gifts, awarded nearly $3 mil in grants to 147 nonprofits across the region, and distributed over $341,000 in scholarships to 260 students.