BOULDER, Colo., Jan. 23, 2003
– The Community Foundation Serving Boulder County
finished its eleventh year with its most substantial
year of growth ever. Despite major losses in the stock
market and decreased giving nationally, the foundation
closed 2002 with assets under management of $14.2 million,
up from $11.7 million at year-end 2001.
In addition, the foundation awarded $1.25 million in
grants in 2002. Grant highlights included:
- The Millennium Trust awarded $71,250 to 14 organizations
working to break down barriers and build community
in Boulder County.
- The foundation awarded $95,527 to Boulder County
arts groups, including Colorado Shakespeare Festival,
Boulder Potters’ Guild, the Colorado Music Festival,
and the Boulder Asian Pacific Alliance.
- The foundation also focused funding on Basic Needs
in the community, awarding $105,624 to groups such
as Emergency Family Assistance Assoc., Meals on Wheels,
Dental Aid and Community Table.
- The foundation awarded additional grants in civic
engagement, education, the environment, health and
human services, youth issues, gay and lesbian issues,
and through programs such as the Catalog for Giving,
Social Venture Partners and the CultureofGiving.org
initiative.
The foundation observed, both anecdotally and by request
numbers, that community nonprofits had a tough year
in 2002. Many groups reported seeing major demands for
their services, particularly in the areas of counseling,
shelter, and family support services. Many also reported
cuts in income from individual, corporate and government
sources. One hundred forty-eight groups submitted requests
to The Community Foundation for funding totaling over
$1.4 million.
In response to the great needs of the community in 2002,
the trustees of the foundation voted to award 7 percent
of its endowed funds as opposed to the traditional 5
percent in 2003, which will allow the foundation to
distribute up to an additional $180,000 this year.
"The purpose of The Community Foundation is to
be a savings account for the nonprofit community during
rainy days. This season, our economy saw many of those
rainy days," said foundation President Josie Heath.
"We are so grateful to this community for their
increased support."
The Community Foundation exists to encourage philanthropy
and to create opportunities to improve the quality of
life in Boulder County, for now and forever. For more
information, go to www.commfound.org.
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