News from The Erie Community Foundation
SPRING 2015
In This Issue Growth Fuels Foundation and Nonprofits The Erie Community Foundation Welcomes New Board Trustees Erie Vital Signs 7 Reasons to Love Erie Erie Vital Signs Strengthened Community Country Day School Motto: “Love Can Change the World” The Upper Room Provides Safe Haven for Erie’s Homeless Erie Women’s Fund Awards Grant to Porreco College
Shaping tomorrow: Requests for Proposals Board of Trustees Calendar of Events
The Erie Community Foundation Headquarters on West 6th Street
GROWTH FUELS FOUNDATION AND NONPROFITS Growth of investments and continued donor support helped The Erie Community Foundation distribute $11.2 million in 2014, an $800,000 increase over the previous year. “This is the second highest grant total in our 80-year history, topped only by the $84 million distributed in 2007 as part of the Anonymous Friend Fund,” said Foundation president Michael L. Batchelor. The Erie Community Foundation makes grants from earnings on $200-plus million of permanent charitable endowment funds and by processing specified pass-through gifts. The foundation utilizes a competitive application process to award grants from unrestricted endowment income. Income from endowments designated to particular nonprofits is distributed according to the wishes of the original donor. “Luckily, many donors have created unrestricted endowments at the
Foundation which gives us the ability to respond to current community needs,” said Vice President of Community Impact George Espy. “A few examples made possible by unrestricted endowment income include establishment of the Neighborhood Resource Organization ($214,962), operational expense support of Erie Together ($112,500), and the Regional Career Planning project ($100,000).” During 2014, the Erie Community Foundation received gifts totaling $8.9 million, an increase of $900,000 from 2013. “Over time, local donors have built a significant resource for local nonprofits,” Batchelor added. “For 12 years in a row, donor support has surpassed the $7 million mark. In the past 20 years, donors have gifted $298 million of permanent and pass-through funds to The Erie Community Foundation.”