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(Part of a series of articles on charitable giving and the Union County Foundation by David Vollrath - Exec. Dir.) Recently I was asked if 2005 was a good year for the Foundation. I paused, reflected and answered, "yes 2005 was a very good year for the Foundation." From a purely financial standpoint the Foundation’s assets increased 18% in ’05 to $3,269,533. The Foundation’s Investment Committee can claim much of the credit for the increase in assets. This committee manages and monitors all Foundation investments, establishes Fund administrative fees (currently 1% of Fund balances) and has successfully diversified assets in accordance with a broadly accepted allocation model. The model (63% equities, 31% fixed income, 6% cash) is consistent with prudent community foundation investing practices found throughout the country. The increase in assets also resulted from the addition of several new Funds in "05: The Stacey Beth Colbert Fund, The Jason Mathewson Scholarship Fund, The Andrew Daum Memorial Soccer Scholarship Fund, The Sarah Kathryn Demchak Memorial Scholarship Fund, The Union Rural Electric Scholarship Fund, The J. Carl & Jeanie Thiergartner Family Fund, Union County Helps Fund, and a new charitable remainder unitrust Fund. Other highlights of the past year included "traveling" board meetings held in both Plain City and Richwood. These special presentations allowed business and community leaders in each of these Union County communities to become fully informed regarding the charitable services offered by the Foundation. 2005 also saw the first Planning Council gathering of county professional advisors. This event was co-sponsored by the Memorial Hospital Development Council. The Hospital Development Council also teamed with the Foundation to host the third annual Estate Planning Seminar. This annual event features presentations by several estate planning experts and provides continuing education hours for the attorneys, CPA’s, and insurance professionals who attend. In the interest of transparency and accountability the Foundation board committed to a policy of annual audits starting in ’05. A large part of Foundation activity revolves around grant distributions. In 2005 the Foundation disbursed $402,861 through over 36 named Funds (a complete listing can be found on our website). Three local fraternal organizations housing their charity Funds within the Foundation: Elks, Eagles, and Moose, together advised distributions of over $250,000 to county causes. The Foundation continues to accept grant applications on a quarterly basis. The quarterly deadlines for grant submissions are January 5, April 5, July 5, and October 5. Grant application and guidelines can be picked up at the Foundation office or at our web site. As good a year as 2005 has been 2006 portends to be even better. The citizenry of Union County continue to act on their charitable inclinations by allowing the Union County Foundation to help turn charitable dreams into real world action. Our board of trustees operates (largely by choice) in relative obscurity. In 2005 they were: David Allen (legal Counsel), Bob Buckley (CPA), Bob Conklin, Phillip Connolly, Gerry Dackin, Dan Fitzgerald, Barbara Holcomb, Kevin Kern, Robert Lewis, Dr. John Linscott, Tom McCarthy, Frank Miller, Dorothy Mudgett, Pat Nuckles, Dr. Frank Raymond, Dennis Schulze, and Barbara Timmons. These men and women, and those that came before them, are the reason that Union County can be proud to have access to a local community foundation. The presence of a strong community foundation is one significant sign of an alive and vibrant community. By that measure 2006 should be another very good year! |
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