…Fiscal Year Ends with a Groundbreaking Total of $12 Million in Grants and Scholarships
The Community Foundation of Sarasota County’s board of directors announces that for the fiscal year ended May 31, grants and scholarships reached a record high of $12,017,236. “Even in a difficult economy, the power of endowment means that there is a reservoir of money permanently invested by charitable individuals within the Community Foundation, so that we can continue to serve the emerging needs of children, the elderly, animals, the arts, culture and humanities, education and more,” said Stewart W. Stearns, president & CEO.
As its assets have grown to $160 million, each year since 1987, the Community Foundation has awarded grants and scholarships averaging $6 million, from a variety of charitable funds under its administration - some of which are recommended by donors and their successors. Other grants are generated from funds earmarked for specific charities. Discretionary grants are the result of a careful study process called “Grants and Program Services” or GPS, involving community partnerships, with research undertaken by focus teams of highly engaged volunteers. In fiscal year 2007-2008, which ran from June 1, 2007 to May 31, 2008, a total of 1,077 grants were made, ranging from less than $5,000 to more than $500,000. Many of these grants are multi-year commitments that will culminate in millions of dollars in community investment.
Included in this record high amount are 530 scholarships awarded to recent high school graduates and adult learners, valued at $1,092,869.
Just a few grant highlights of the year include:
• The creation of a comprehensive literacy program for children from birth through middle school, which “connects the dots” for students, parents and teachers, through a unique collaboration of the Early Learning Coalition, the Sarasota County schools, Children First and others.
• The ITN (Independent Transportation Network) under the supervision of Jewish Family & Children’s Service, an innovative program that will serve the elderly and visually impaired with affordable door-to-door rides provided by volunteer drivers.
• A teen pregnancy prevention and education program for at-risk communities administered by the Sarasota County Health Department.
• A comprehensive website for the promotion and development of local arts organizations.
“We are touching so many individual lives and supporting thousands of nonprofits of all sizes with our small and large grants,” said Charla Burchett, chair of the Grants and Program Services committee of the Community Foundation. “At a time when nonprofits are struggling to meet their missions, the fact that the Community Foundation’s grants, scholarships and other support are increasing, not decreasing, is especially significant.