Endowment grant awarded to performing arts center.
The Community Foundation of NCW has awarded a $50,000 Endowment Grant to the Numerica Performing Arts Center (PAC).
Offered every other year, this competitive grant is awarded to one nonprofit organization that demonstrates the strength, support, and ability to grow an Endowment Fund. An endowment provides long-term sustainability for an organization through an annual stream of income that grows over time. As gifts to the Endowment Fund increase, so does the income.
Endowment Grant applicants were reviewed on a number of criteria, including service to community, financial stability, strategic planning, fundraising capacity, and the impact an Endowment Fund would make on their organization. An Endowment Grant Committee comprised of foundation staff and board members selected five finalists who then participated in an in-depth interview with the committee for final evaluation. The other finalists were the Chelan-Douglas Land Trust, NCW Business Loan Fund, Wenatchee Valley YMCA, and the Women's Resource Center.
"It was a very difficult decision, as all finalists are extraordinary organizations with strong leadership" said Denise Sorom, director of community philanthropy. "The passion and vision that the Numerica PAC demonstrated during their interview was palpable and the committee was convinced that they are poised to launch a successful endowment campaign with this grant."
The Endowment Grant was awarded at the Numerica PAC's Annual Patron Meeting on Sept. 25, in surprise fashion to Matt Cadman, executive director, board members, and patrons in attendance. Community Foundation staff and board members appeared onstage during the meeting with the award.
"We were incredibly humbled to be in the company of such deserving finalists, and are so inspired to have been awarded this grant," Cadman said. "It is a real game changer for the future of the Numerica PAC. We will carry this momentum into our imminent endowment campaign. I have big dreams for this precious theater, and one of them just came true!"
The next opportunity for an Endowment Grant will open in February 2016. To learn more about grants or giving at the Community Foundation, visit www.cfncw.org.
Established in 1986, the Community Foundation currently manages more than $57 million in assets in nearly 400 individualized funds and to date has awarded more than $30 million in local grants and scholarships.
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|Title Annotation:||Keeping up with People|
|Publication:||Wenatchee Business Journal|
|Date:||Nov 1, 2014|
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