The Community Foundation accounting department closed the books on 2019 this week. The resulting numbers tell a story of generosity and accomplishment.
The financial statistics are not the only metrics we use in measuring the Community Foundation impact, but they are a key aspect and are important to share.
Grants: 999 separate grants or scholarships were awarded totaling $13,488,000.
Gifts Received: $14,466,000. Thank you, generous donors, your generosity is responsible for the countless good happening in our region.
Income: $29,365,000 which includes the gifts above.
Total Assets: Assets reached $129,600,000. Assets have grown by more than $26 million in just two years.
Community Endowment: The Community Endowment grew to $4.15 million by December 31, 2019, and two months later is approaching $4.7 million. Thank you!
Operating Budget: The 2019 operating budget ended the year with a slightly positive balance. An excellent goal to achieve.
Administrative Expenses: I am proud to share that Community Foundation administrative expenses totaled just 4.2% of income.
Operating Assets: Most of our operating assets are comprised of an operating reserve fund. This reserve fund is an essential component for the fiscal health of any organization and ensures strong operations during turbulent times. The Community Foundation’s large operating reserve equals about 65% of our annual operating budget.
Board Giving: 100% of the Community Foundation Board and several staff (including myself) make a generous, personal contribution to the Community Foundation each year.
The Community Foundation Impact Report outlines metrics for impact in numbers other than our financial balances. They are perhaps even more impressive as they tell a story of meaningful positive community progress. We will be releasing the 2019 Impact Report in the near future, and I am eager to share it with you.
Families in the community are executing their philanthropic plans to make our region a better place for all of us, and for future generations. Community Foundation philanthropic advising staff working with our fundholders are inspired by their passions, goals, and generosity! Do you have thoughts about how you can make charitable investments in the community in 2020 – or beyond? Please give me a call. I will be honored to help.
Chris Askin, President, and CEO