Business Person of the Year

(L–R): Tom and Kay Somers, Laura and Roth Carroll, Margaret and Eric Nost, Ann and Foster Nost.

MARGARET NOST

Business Person of the Year Leaves Lasting Impact in Lancaster

Like many couples who move to Lancaster County, Margaret Nost and her husband left the bustling suburbs to raise their children by the peaceful waters and in a caring, close community. It wasn’t part of her plan but one day, Nost would care for more than her children here. She would nurture the entire region. For this work Nost was honored as the Business Person of the Year.

Nost left a career in banking behind when she and her husband moved to West Point. She enrolled her children in Chesapeake Academy, which is where she eventually began working and making an impact in Lancaster. Her first nonprofit job as Development Director wasn’t far from her banking experience, she says.

“It’s really all about helping people making a difference with their money,” she said. “I learned just how many generous people there are here in this community.”

In 2002, she joined the staff of the Community Foundation for a greater Richmond in a part-time role to shepherd the early growth and development of three regional affiliate foundations – the Gloucester Community Foundation, the Mathews Community Foundation, and the River Counties Community Foundation. Together, they serve five counties in the Middle Peninsula and Northern Neck.

“There’s so much need for foundation support here because you don’t have the resources of a big county or city government,” she says.

Also different from metropolitan areas, foundation staff and leaders like Nost are driven to work to help the families they see every day at the market, down the road, and in the grocery store. For 20 years, she worked to connect other compassionate community leaders, donors, and volunteers to build up resources around the region. Most recently, her efforts were focused on filling gaps in the community during the pandemic.

“I was proud of how we were able to quickly shift when COVID hit,” she said. “We were in the middle of a grant cycle and so much changed--free clinics were overwhelmed, important community hubs closed, and the schools really needed help.”

Nost’s background in banking and an inherent ability to connect with people helped grow its assets “from an initial $25,000 donor gift to almost $30 million. Accordingly, the awarded annual grants have grown from $1,500.00 during that first year to more than a million dollars last year to our local non-profits,” said Mary Kay Rotert, past-president of the River Counties Community Foundation. Some of those grants came from an expanded Emergency Fund Nost helped establish. The fund grew to provide “rapid response grants” to local nonprofits faced with increased challenges and needs during the COVID pandemic. Margaret’s philosophy is that “we are investing in our community – not just giving money away,” says Rotert.

“Margaret is the face of the Community Foundation in Gloucester, Mathews, Lancaster, Middlesex and Northumberland Counties,” said Sherrie Armstrong, CEO of the Community Foundation for a greater Richmond, which provides financial and administrative support for the affiliate foundations. “We join these communities in honoring Margaret’s dedication to and vision for philanthropy in the region and her ability to build partnerships for the greater good.”

After nearly 20 years serving as Regional Affiliate Director, Margaret Nost has announced her plans to retire at the end of January.