In an economic climate that has left many businesses – and families – struggling, Ozarks residents have continued demonstrating their giving spirit, enabling Community Foundation of the Ozarks to distribute a record $18.2 million in grants and funding during fiscal 2010.
“Our donors and the leadership of our organization from our board have really done a great job in seeing us through these difficult times,” said CFO President Brian Fogle.
Founded in 1973, CFO essentially acts as a bank for charitable funds, handling resource development, investing, grantmaking, and administration for donors who want their money to benefit Ozarks communities. The organization has grown to include about 40 affiliate community foundations and 1,700 charitable funds, according to
www.cfozarks.org.
Mirroring the adversity experienced in some sectors, CFO took a hit from the recession but is showing signs of growth. The organization reported $144 million in assets in fiscal 2008, but that figure dropped to $123 million in 2009. In fiscal 2010, which ended June 30, assets were at $139 million.
“Due to some prior planning by our board and our staff we had some reserve that we were able to get to and really not have to cut our services because of the economy,” Fogle said.
Steady support
Holding that support steady is welcome to area charities such as Ozarks Food Harvest, which rely on donors to serve those in need.
Earlier this year, CFO announced that its affiliates raised $105,000 to fight hunger, resulting in a $100,000 matching grant from the Walmart Foundation State Giving Program. That money, channeled through Ozarks Food Harvest, was used to leverage about $1 million in food, distributed through local food pantries.
Bart Brown, CEO and president of the Ozarks Food Harvest, said CFO has had a widespread impact on his organization.
“The great thing about Community Foundation is (it puts) funds in the community that help nonprofits like the Ozarks Food Harvest serve the community better,” Brown said. “The community foundation gives us a place to invest donor funds with a guaranteed return. That’s very important, especially in this economy.”
Fogle said Ozarks Food Harvest is just one example of a local nonprofit organization balancing decreasing resources with a higher community interest in its services.
“We have seen with all of our partner agency nonprofits an increased demand for their services,” Fogle said. “However, because of people not feeling as well-off, a lot of their donations have dwindled, so we have really tried to help (nonprofits) and give them new sources of revenue.”
In 2009, CFO committed $150,000 to the Arts Programming Sustainability Initiative, a collaborative effort of area nonprofits and universities to bring Springfield’s cultural offerings under a single brand.
“I know that the fruits of the labor, we’ll see in 10 to 20 years, because we’re focusing on planned giving and leaving legacies for the arts,” said Leah Hamilton Jenkins, executive director of SRAC. “Because of the Community Foundation’s efforts, the arts will be a strong force in this community in perpetuity.”
Brown noted, too, that CFO’s help extends beyond dollars and cents.
“Support of the Community Foundation of the Ozarks is a valuable endorsement for a nonprofit organization that can lead to relationships with other foundations and other donors,” he said.
Who can give
In addition to assisting already established charitable organizations, Fogle said CFO makes the giving experience easier for new donors. “Instead of setting up their own foundation they can set up a fund for us for charitable purposes,” Fogle said. “It accomplishes the same thing but they don’t have to do all of that extensive paperwork.”
CFO works with donors, helping them tailor their funds or foundations to specific causes or interests.
The overall goal, he said, is to allow a broader spectrum of Ozarks citizens to benefit from the generosity of others through the years. Fogle said family and community funds can be started for as little as $2,500. CFO will give support to foundation donors once they hit the $10,000 mark, but official affiliate foundations must have at least $30,000.
“I think there’s a misnomer that philanthropy is only for wealthy people, and that’s not the case at all,” Fogle said. “The backbone of giving is from people of all income levels. It’s just an importance of committing, giving back part of what we’re blessed with and what we’re able to make a living with.”[[In-content Ad]]
