the community foundation of western north carolina PRESIDENT’S MESSAGE
Fall 2017
When Ray Hust and a group of local visionaries started The Community Foundation nearly 40 years ago, their goal was to create a permanent charitable resource that would grow into a powerful force for good for Western North Carolina. As we plan to celebrate CFWNC’s 40th anniversary in 2018, I wonder if our founders might have foreseen a day when CFWNC would surpass $285 million in total assets and would facilitate more than $18 million in philanthropy annually. Our founders launched this organization believing that philanthropic people want to support their communities and that results could be maximized by working together. They were right. Everything we do today builds on the foundation and investment of those who came before us. Grantmaking and scholarships are the most visible part of our work; the Foundation typically makes more than 3,200 grants a year and awards nearly 100 scholarships. In the recent past, our total grants and scholarships surpassed $200 million, a significant milestone that represents distributions from thousands of funds, many nonprofit programs and scores of deserving students. CFWNC will always be a broad-based funder because of our donors’ many and varied passions; however, our adoption of focus areas in 2011 has enabled us to work more deeply to address some specific regional needs. I am extremely pleased to highlight the investment that CFWNC has made in a program of matched savings opportunities to assist low-income families (see story below). This effort represents a new approach and provides a tool for nonprofits working to help families stay out of financial crisis and find economic stability. Initially and by design, this work was funded exclusively through CFWNC’s discretionary dollars. We offered our donors the opportunity to co-invest in this most recent grant, and they responded with $70,000 of the $200,000 commitment.
Elizabeth Brazas, Doris Kearns Goodwin and fundholder Lisbeth Riis Cooper at the 2017 Power of the Purse® luncheon. Photo by Michael Oppenheim.
have developed over decades will ultimately most benefit Western North Carolina. Our founders understood that a strong community foundation would grow as a source of funding and as a center of philanthropy. They also understood that working together is more productive and that building community is paramount. We are stronger when we are pulling in the same direction. So, the cycle of good work and deliberate generosity continues, and WNC benefits. The Community Foundation has a 40-year track record of investing in the region and has gained an in-depth understanding of its needs and opportunities. I think our founders would be proud.
As the Foundation’s level of engagement grows with each passing year, my optimism grows with it. I believe that the relationships and trust we FOCUS AREA GRANT
$200,000 Awarded to OnTrack to Support Matched Savings Program G R A N T I S L A R G E S T C O M P E T I T I V E AWA R D I N C F W N C H I S T O R Y
In August, The Community Foundation of Western North Carolina (CFWNC) board of directors approved its largest competitive grant to date when a $200,000 People in Need grant was awarded to OnTrack Financial Education & Counseling to expand the SECURE program that provides financial literacy training and a three-to-one match to help low-income people establish and maintain emergency savings.
To learn more about the matched savings program and how it helps people save and learn, watch the video “When Life Happens” at www.cfwnc.org. Photo courtesy of Fusion Digital Video.
“We are very proud of this grant,” said Elizabeth Brazas, CFWNC president. “With these funds, OnTrack will offer financial literacy and an opportunity for matched savings to clients working with partnering nonprofits on life issues such as childcare, education and job training. Indications are that this comprehensive approach works, and that emergency savings is a key component of that success.” In 2015, CFWNC began researching ways to help people escape the cycle of poverty. The Foundation partnered with three nonprofits in May 2016 when $114,000 was awarded to OnTrack and two other organizations to develop pilot matched savings programs serving several WNC counties. A further investment in match dollars of $8,000 was made when OnTrack’s enrollment exceeded expectations. “Initially, we funded the pilot programs out of our discretionary funds because it was a risk,” explained Brazas. “Over the past two years, we’ve learned that with the right approach and support, participants can become more financially stable. We invited our donors to help, and $70,000 in co-investment came from the Brown Family Fund, the Fidel Duke Fund and a private family foundation.
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Masthead photo, from left: The City of Marion Tailgate Market received funding from The McDowell Endowment. Photo of Estelle Allman, courtesy of City of Marion. Photo of Habitat for Humanity client Pete Finley, courtesy of Asheville Habitat for Humanity, which received 2017 People in Need funding to expand into McDowell County. The Biltmore Lake Charitable Fund awarded the Verner Center for Early Learning $7,500 to help provide early childhood education to children ages 6 weeks to 5 years. Photo courtesy of Verner. A $45,000 Food and Farming grant supported ASAP’s Telling the Story program. Photo of John Mitchell, courtesy of ASAP. The Bascom was awarded $10,000 by the Cashiers Community Fund to support a cross-disciplinary arts initiative. Photo by Byron Tenesaca.