Thursday, April 29, 2010

Foundation Endowment earns more than $2 million dollars

News Release for Immediate Use
Walker Area Community Foundation
Jasper (Walker County), AL – USA

Foundation Endowment earns more than $2 million dollars
The news is great on the performance of the Foundation’s endowment. At the most recent meeting of the Walker Area Community Foundation the Board of Directors learned from Canterbury Trust Company, that the Foundation’s portfolio has exceeded the benchmarks and performed in the top of its class. The Foundation has earned 27% in the calendar year ending 2009. We started the year at $8,902,413 and ended the year at $ 10,909,980. According to John T. Oliver, Jr., President of the Foundation, “The Community Foundation has weathered the worst economic recession since the 1930’s and has emerged as a strong and vibrant foundation and public charity”.

The investments are strong and the Foundation is healthy and growing. Community contributions have been strong through the economic recession and the basic needs of many of the nonprofits providing essential services have been met by grants from the Foundation’s Community Fund. The Foundation closed out the year with $465,970 of grant monies invested in 63 programs to benefit the people of Walker County and the surrounding area.

The Board is also elated to report that the interior of the Bankhead House & Heritage Center at 800 West Seventh Street is complete. They are especially proud that no money from the endowment (the grant making portion of the Foundation) was used for the restoration. The Board thanked Mr. Oliver for his exceptional service raising private funds to complete this project outside of the normal work and apart from the budget of the Foundation. The $1,050,000 investment in downtown Jasper is a landmark for the Community Foundation as we now have a permanent home for the Heritage, Arts, and nonprofit business of Walker County.

The exterior of the Heritage Center is on track for completion in 2010.

To learn more about the exceptional work of the Community Foundation join with us on May 7, 2010 for our Annual Luncheon. Tickets are $15 each and can be purchased by calling (205)302-0001. Congressman Robert Aderholt is the keynote speaker.
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Paul W. Kennedy
Walker Area Community Foundation, Bankhead House & Heritage Center
800 Seventh Street West, Jasper, AL 35501, (205) 302-0001 o, (205) 300-4062 m,