The Esther McCulloch Dansby and Pauline McCulloch Grant Foundation recently provided an establishing gift of $100,000 to launch an operating endowment for the Community Foundation of the Brazos Valley.
This gift will kick off an effort to build a $3,000,000 operating endowment for the Community Foundation, which would support its operations in perpetuity.
The primary mission of the Community Foundation is to develop local philanthropic giving by providing the infrastructure to support charitable endowments that will benefit local charities. This is possible because the Community Foundation has made investments to obtain the knowledge, facilities and technology to provide accounting, asset management, legal and other professional and technical services needed to professionally manage charitable endowments in today’s complex regulatory environment.
Historically, charitable endowments have provided a strong, stable stream of resources to charities in our community in good economic times and in bad. These endowments have been almost exclusively in the form of private foundations, which are expensive to create and administer. These costs have limited the availability of private foundations to only the wealthiest members of our community. Less wealthy donors were limited to outright gifts to their selected charities, and as a result, charitable giving was limited to only what was appropriate for current operations or the occasional building campaign, while larger gifts often left our community.
The Community Foundation changes that by making the benefits of a “private foundation” available to donors of all sizes. The primary role of the Community Foundation is to pool charitable funds to create a large community endowment for local charities. The overhead costs of administering the endowed funds are kept extremely low and are spread over the large pool of funds so that smaller endowments can be efficiently created. When “private foundations” are made available to less wealthy donors, an entirely new, and previously untapped, source of charitable funds is reached and the Community Foundation’s goal of growing the “charitable pie” is achieved.
The Community Foundation of the Brazos Valley is a public charity created by and for the people of the Brazos Valley to promote long-term philanthropic giving through the establishment and management of charitable endowment funds. It enables people with philanthropic interests to easily and effectively support the issues they care about in our community. The Community Foundation ensures our donors are leaving "A Legacy. For Good. Forever." The foundation currently manages 50 funds with assets of over $2 million and generates over $80,000 of grants each year.