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Community Foundation of Broward Reports a Record Breaking Finish to the 2018 Fiscal Year

10/3/2018
 

 

  • Nine Percent Increase in Managed Assets and New Total of $197 Million
  • $21 Million in New Gifts in Latest Fiscal Year
  • Record $11.8 Million in Grants Awarded During Fiscal Year, a 27 Percent Gain
  • Total Grants to Create Community Impact Reached $108 Million Since 1984 Founding
  • 32 “Community Builders” Have Each Established Endowed Funds of at Least $1 million
FORT LAUDERDALE, Fla., -- (Sept. 24, 2018) – Already in the top 100 community foundations in the United States, with a ranking of number 94 based on total assets as of a year ago, the Community Foundation of Broward is likely to move up a few notches thanks to results reported during its latest fiscal year, which ended June 30, 2018.
 
With a total of $21 million in new contributions from donors during the year, the Community Foundation of Broward reported managed assets of $197 million as of June 30, 2018.  The $21 million gifted in the latest fiscal year is a 61 percent increase over contributions recorded in the previous fiscal year.  The new total of managed assets represents a nine percent increase.
 
Bold local philanthropists establish charitable funds at the Foundation to create change and improve Broward’s future.  Managed assets represent a current total endowment for the betterment of Broward County, to help tackle the community’s biggest issues today and in the future.  Thanks to additional gifts in the pipeline and investment earnings, the total of managed assets is likely to soon surpass the $200 million mark.
 
The Community Foundation of Broward also reported a record $11.8 million in charitable grants during its most recent fiscal year, bringing the total of grants it has awarded to $108 million since its founding in 1984.
 
The $11.8 million in grants is an increase of 27 percent over the previous fiscal year.  The grants are dollars awarded to Broward nonprofit organizations to support innovative programs that move the needle on the issues that matter in Broward.
 
Among the most significant grants announced during the past year were $1 million to Habitat for Humanity of Broward for the development of a single-family home community in Pompano Beach and a $3 million, 3-year commitment to the Broward County School Board to support a “School is Cool” initiative aimed at middle school students deemed at risk for ultimately dropping out of school.
 
Since the Foundation began, it has welcomed 32 Community Builders, local philanthropists who have each established endowed charitable Funds of $1 million or more.  The newest Community Builders are being announced this fall, including a new $1 million gift by Fort Lauderdale attorneys Jon and Elaine Krupnick.  The newly established Krupnick Family Fund and Elaine Krupnick Fund for the Arts will grow the couple’s support for arts and cultural initiatives and at-risk children.  Their Funds are among several that will be celebrated Thursday, Nov. 8 with an evening reception in the Pier Top Dining Room of Pier 66.
 
A total of 453 charitable funds have been created by South Florida philanthropists and are currently managed by the Community Foundation of Broward to support bold efforts that will impact 10 “Issues That Matter” identified by the Foundation.
 
Looking ahead, at least $252 million in planned legacy estate gifts have been promised to the Foundation by 155 members of its Legacy Society.  Over $20 million in planned legacy estate gifts were added to the total during the most recent fiscal year, representing a more than eight percent gain.  The future gifts will establish charitable funds to build a legacy of bold impact that will change lives in Broward forever.
 
“More than 500 Fundholders, Community Builders and Legacy Society members are making a bold impact on the quality of life in Broward County,” said Linda Carter, President and CEO of the Community Foundation of Broward.  “This is a real movement.  We’re seeing meaningful momentum in the growth of local philanthropy from local visionaries, innovators and doers who will shape Broward’s future.”


 
For more information about the Community Foundation of Broward, including its Community Builder program, please email Kirk Englehardt, Vice President of Marketing and Communications at the Community Foundation (kenglehardt@cfbroward.org) or call 954-761-9503.
 
About Community Foundation of Broward:
Founded in 1984, Community Foundation of Broward helps families, individuals, and corporations create personalized charitable Funds that deliver game-changing philanthropic impact. We provide leadership on community solutions, and foster philanthropy that connects people who care with causes that matter. Our 450 charitable Funds represent $180 million in assets and have distributed $100 million to help Broward BE GREATER. For more information about the Community Foundation of Broward, visit www.cfbroward.org or call 954-761-9503.
 

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Broward County Inspiring Philanthropy over 25 years