Securing our future: The power of endowment

In categories: Blog, Cornerstone Newsletter, Uncategorized

February 18, 2014


 

 

 

 

 

 

 

 

Cleveland lawyer and banker Frederick H. Geoff established the first community foundation in 1914. His vision was to pool the charitable resources of community members – people of all means – into a single, great and permanent endowment for the benefit of all. Within five years, community foundations were established in Chicago, Boston, Milwaukee, Los Angeles, Indianapolis, Grand Rapids, Minneapolis, Buffalo and New York.

 

Community foundations give everyone access to the power of endowment

Community foundations are designed to build endowment funds that benefit the community forever and help create personal legacies. When you contribute to or establish an endowment at Saginaw Community Foundation, your gift is invested forever. Earnings from your gift are used to make grants that address community needs. All future earnings from your gift become a permanent source of community capital, helping to do good work today and in the future.

 

Since 1984, Saginaw Community Foundation has made grants of more than $22.23 million. Our assets as of Dec. 31, 2013 are $48 million. We meet the nation’s highest philanthropic standards for operational quality, integrity and accountability. The National Standards for U.S. Community Foundations Program requires community foundations to document their policies for donor services, investments, grantmaking and administration.

 

Community foundations are devoted to the people and places you love

We are making history together. Community foundations across the country are helping people invest in the future of the communities they care about. Trillions of dollars are expected to transfer from one generation to the next during the next 50 years. The philanthropic opportunity during this transfer has the potential to improve the quality of life – in urban centers and small towns alike – through economic development, education, health, human services, environment, arts and culture. Community foundations are helping people of all means give back and make a difference.

 

During the coming decade, $2.6 billion is expected to transfer from one generation to the next here in Saginaw County. Over the next 50 years, the estimated transfer of wealth in Saginaw County is $16 billion.

 

If just 5% of this transfer could be invested at the community foundation in endowed funds, an estimated $129 million would be gained. Figuring a 5% grant payout, $6.5 million could be available annually to improve the quality of life in our community and secure our future. Imagine the impact!

 

Learn more about how to leave a permanent legacy to our community. Read more about securing our future.

 

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