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Posted February 22, 2013 | Leave a comment
Shenandoah foundation grows from contributions
The Shenandoah Community Foundation announced Wednesday that generous contributions from the Lawrence L. Lucus Foundation and a positive investment return have pushed the endowment assets of the foundation over two million dollars.
"This is a significant milestone for us," foundation president, Jeff Dalke, was quoted saying for a press release. "As the foundation grows, our ability to serve the community grows and that is something to celebrate."
Last year the foundation awarded $48,000 to area nonprofit organizations, $59,000 in scholarship grants to county youth, and provided $13,000 in additional grants to non-profit organizations from the restricted grants program according to Dalke.
In 2013, the foundation saw 18.14 percent net asset growth and held $1.999 million in assets at year end. Three new funds brought the number of active funds to 47, and operating expenses were $33,500, down from $36,200 in 2011.
Donald Albright and Kevin Finks joined the foundation in 2012 and Adele Skolits and Patsy Morehead joined this year.
The Shenandoah Community Foundation is a non-profit 501 (c) 3 organization, which helps connect people who care with causes that matter in Shenandoah County.
For more information, visit www.ShenandoahCF.org or call 540-459-7737.
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