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$2.3 million in Community Foundation Grants Demonstrate the Power of Endowment

10/10/2013
October 10, 2013

 
Contact: Thor Barraclough
954.761.9503
For a complete list of grants, click here.

(Broward County, Fla. 10-10-13) – The Board of the Community Foundation of Broward has approved $2.38 million in grants to 96 organizations. The grants, which will support causes ranging from education to human services, demonstrate the power of endowment. 

The grants are the result of forward thinking philanthropists and nonprofit leaders who have established Funds at the Community Foundation that act as a permanent and ongoing source of community capital. Endowed Funds are created when money is set aside by a philanthropist or an agency to provide a steady and permanent income stream to a specific cause or organization.

“Endowments create a legacy that has an impact far greater than any single gift can achieve,” said Community Foundation President and CEO Linda Carter. “Not only do they make a difference today, but the steady stream of endowment income demonstrates an ongoing commitment and desire to ensure financial security to the causes and organizations important to our Fundholders.”

Grants made include those supported for the first time by the Mary N. Porter Designated Fund of the Community Foundation of Broward which granted more than $850,000 to 19 organizations. The Fund is part of a $43 million endowment established in 2013. The Foundation projects that in the next 20 years, Mary Porters’ Funds will provide more than $44 million in community solutions while also increasing in size to more than $65 million.

For a complete list of grants, click here.

About the Community Foundation of Broward
Founded in 1984, the Community Foundation of Broward's mission is to provide leadership on community solutions, and foster philanthropy that connects people who care with causes that matter. A public nonprofit organization with more than 450 charitable Funds and agency endowments representing $160 million, it has distributed $60 million to support community solutions over the past 29 years. For more information about the Community Foundation of Broward, visit cfbroward.org or call 954.761.9503.
 
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Broward County Inspiring Philanthropy over 25 years