Elk County Community Foundation reaches $5 million in endowed funds
The Elk County Community Foundation has reached a significant milestone in achieving over $5 million in permanently endowed funds. Earlier in the year, the foundation exceeded granting over half a million dollars to worthy organizations and college students throughout the community as well.
The information was released at the Foundation’s Nov. 29th executive committee meeting.
The Foundation is growing with each passing year, and as Bill Conrad of the Stackpole-Hall Foundation stated in an article published in The Daily Press on Jan. 25, 2000, ”within five to 10 years, the foundation should be up to $5 million.”
Conrad’s vision became a reality as his predication came true. Such monies will continue to help generation after generation. Meanwhile, the Foundation continues to enable individuals to achieve their philanthropic goals intelligently, creatively and effectively.
During the 1990’s a group of business and civic leaders worked together to explore and discuss establishing a Community Foundation in the Elk County area. The Foundation was incorporated in 1999, and a year later was classified as a non-profit organization.
At the time, Conrad described the Elk County Community Foundation as something that “provides individuals with an opportunity to financially provide for charitable and community organizations that they believe in and want to see endure in the long term.”
Also at the time of inception, the founding President Richard Masson described the foundation as a “chance for an individual to see their charitable intentions carried on from generation to generation”.
The Elk County Community Foundation connects people who care with causes that matter. They currently manage 53 permanent charitable funds that improve the quality of life in Elk and surrounding counties. Revenues from these funds provide grants and scholarships to nonprofit organizations and students, just as the donor intended.
In 2007 there were six new funds established with a growth of over $1.8 million dollars and an increase in granting by 35 percent or $47,000 more than last year.
Additional information about the Foundation can be obtained by contacting Paula Fritz Eddy at 834-2125 or visiting the organization’s website at www.elkcountyfoundation.com.