Community Foundation holds annual celebration
FORT COLLINS - More than 400 philanthropists from across Northern Colorado gathered at the Hilton Fort Collins May 11 for the annual Community Foundation of Northern Colorado's Celebration of Philanthropy.
The event's featured speaker was David Krueger, M.D., a physician, author, and executive coach who spoke about how giving is part of the "story" all people tell with their money. Krueger encouraged the audience to make sure their "money story" was one worth telling and one that would make their descendants proud.
The Community Foundation told its "money story" through financial statements from 2010 and for 2011 thus far. Managed assets as of March 31, were $48 million, close to the foundation's goal of $50 million. It also reported gifts of more than $4 million and grants and programs of $2.9 million in 2010.
The $48 million in assets far exceeds numbers for the previous two years, which were $36.5 million and $41.6 million as of June 30 in 2009 and 2010, respectively.
Roxanne Fry, COO of the Community Foundation, told the Business Report Daily that the $50 million mark is significant for an organization the size of the Community Foundation because it is large enough to sustain operating costs without being supplemented by other funds, such as the foundation's Cornerstone Fund, freeing up more money for community giving.
The event also honored Wynne Odell and Chris Osborn, who will finish their terms on the foundation's board of trustees on June 30.
The Community Foundation of Northern Colorado is a nonprofit, public foundation working to build permanent endowments for the benefit of charitable causes in Northern Colorado. The foundation currently manages more than 320 individual charitable funds, 70 percent of which are endowed. More than 30 local nonprofits have their agency endowments placed with the Community Foundation.
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