The Grays Harbor Community Foundation celebrated its 20th Anniversary flush with cash and success.
The foundation celebrated its accomplishments Friday evening in a dinner and presentation at the Aberdeen Museum of History.
The giving nature of the community was a huge part of the foundation’s success and equally important is an earned reputation of good stewardship and consistent fiduciary responsibility, said incoming chairman Tom Quigg, who welcomed the guests.
The foundation’s total assets in 2013 soared by 18.78 percent, increasing from $37.36 million to $46.96 million, the annual report said.
A year and a half ago, Executive Director Jim Daly proposed a goal of $50 million in assets by the foundation’s 20th anniversary, which the Board thought was quite intimidating, Quigg said. The board is now confident that goal will be reached in the next few months. As of March 1, the foundation had $47.315 million, Daly responded in email.
Expenses of slightly more than $400,000, or less than one percent, also helped the local economy. The foundation took in contributions of $4.5 million. The foundation gave $1.2 million away in 146 grants and awarded an additional $387,550 to 260 students. Grant and scholarship applications were also put online in 2013.
The foundation built the new “Breaker” sculpture with proceeds from the Weatherwax family, introduced a capital projects initiative and partnered with the Bill and Melinda Gates Foundation on a long-term effort to address inter-generational poverty in Grays Harbor and Pacific counties.
Donors, grant recipients and scholarship winners delivered testimonials at the benefit.
A letter from Congressman Derek Kilmer entitled “Recognizing the Service and Commitment of the Grays Harbor Community Foundation” was read into the 113th Congressional Record and was delivered by his aide, Nicholas Carr.
The 2013 annual report and information about grants, endowments, initiatives and scholarships are on the website: www.gh-cf.org.
“The foundation was started in 1993 with a $1,000 donation by Frank Larner, our founder, to open a bank account so that he could file for a 501(c)(3) designation with the IRS,” Daly said.
Their mission is to improve the quality of life in the communities throughout Grays Harbor.
For more information, call or email Daly at (360) 532-1600 or firstname.lastname@example.org.