Community Foundation announces record year
The community foundation of the Central Blue Ridge recently announced at a gathering of its donors, volunteers, and community partners that so far in 2014 it has received new contributions and commitments of over $8.5 million.
community foundation CEO Dan Layman stated that he anticipates gifts to be received this year will elevate the Community Foundation’s assets to an all-time high of $19.3 million.
One significant gift is responsible for much of the Community Foundation’s anticipated growth this year. In the coming weeks the ntelos Foundation will transfer their assets of approximately $2.8 million to the community foundation. “We will divide those assets between two new donor advised funds, to be known as the ntelos Wireless Foundation and the Lumos Networks Foundation, from which we will partner with company representatives to fulfill their charitable intentions for the community,” says Dan Layman.
“Both ntelos Wireless and Lumos Networks are thrilled to be working with the Community Foundation,” commented Mary McDermott, a member of the ntelos Foundation’s Board of Directors. “Although we are now separate companies, we have a shared history of philanthropy. We are grateful that the community foundation provides us with the vehicle to continue that tradition.”
Other major contributions in 2014 include the transfer of a private family foundation, the creation of several other new funds, and many contributions to existing funds. “The donors who have offered these contributions set a leadership example for all of us, that when you work or live in a community about which you care, it’s important to re-invest in its future,” says Layman.
Thus far in 2014:
- Individuals and families donated over $600,000.
- Corporations and organizations contributed approximately $3 million.
- Individuals documented new estate commitments valued at $5 million.
Established in 1992 by local business leader H. Dunlap “Buz” Dawbarn, the community foundation of the Central Blue Ridge was formed as a permanent endowment to serve the community in perpetuity. The Foundation functions as a trusted and collaborative partner in identifying and addressing community needs.
According to Layman, the community foundation is experiencing a surge in interest from individuals and the corporate community seeking to engage the Foundation as their partner in community philanthropy.
“We are very honored that corporate partners such as ntelos Wireless and Lumos Networks, as well as other companies such as Cadence Inc., The Mathers Team, and LD&B Insurance and Financial Services, selected the community foundation to steward their funds and help them achieve their charitable goals,” says Layman.
Since it was founded, the community foundation has presented $6,277,909 in grants, scholarships, and awards. New gifts in 2014 will increase the foundation’s ability to support the community by nearly 25%.
Last year, grants by the Foundation and its donors benefited nearly 90 nonprofit organizations, supporting a range of causes, from education and healthcare to arts and conservation. The foundation will begin welcoming proposals for its primary grants program in late November.
The community foundation accepts gifts of all kinds, including cash, bequests, stock, real estate, life insurance and retirement assets, to name a few. For more information about the community foundation of the Central Blue Ridge, or to learn more about creating a fund, call (540) 213-2150.