West Virginia ’ s Top 5 Community Foundations by Asset Size
1 . The Greater Kanawha Valley Foundation $ 265.7 Million
2 . Community Foundation for the Ohio Valley $ 62.97 Million
3 . Parkersburg Area Community Foundation & Regional Affiliates $ 48.3 Million
4 . Beckley Area Foundation $ 42.3 Million
5 . Eastern West Virginia Community Foundation $ 30.3 Million
Source : Guidestar by Candid
the Claude Worthington Benedum Foundation under its Promotion of Philanthropy initiative .
Community foundations allow everyone — our neighbors from every walk of life , families , former residents who love their hometowns and businesses — to be a philanthropist . Individual citizens , families and companies can donate to create a permanent fund focusing on the specific charitable interests of the donor or the community ’ s needs . Donations come in all sizes and avenues such as outright , over time or in someone ’ s estate plans upon their passing . These interests and types of funds can be quite diverse and include :
• Supporting the greatest needs of the community now and in the future
• Benefiting a specific charity in the community
• Providing funds annually for specific causes or issues , such as hunger , homelessness , workforce development , arts , education and economic development
• Serving as match funds for federal and state economic development projects
• Funding annual scholarships for traditional and adult students to complete degrees to grow our workforce
• Responding to disasters , such as the 2016 flood or coronavirus pandemic
These funds are then awarded annually , providing critical financial investments to boost communities by creating innovative solutions tackling some of the state ’ s great challenges , sustaining revenue for charities and local organizations , providing critical services and awarding funds that allow the community to pursue new opportunities .
Critical Infrastructure
On to the second question , “ why are community foundations critical infrastructure ”? By Merriam-Webster Dictionary ’ s definition of infrastructure , it is “ the underlying foundation or basic framework of a system or organization .”
By that definition , there is no truer form of healthy community infrastructure than a community foundation . Community foundations are the basic framework that provide serious financial , intellectual , capacity building and leadership investments for a community ’ s long-term success . This is accomplished through a community foundation ’ s use of :
• Grantmaking of all sizes
• Community convening and expert knowledge from the economic development , nonprofit , community development and health and human services sectors
• Partnerships across nonprofits , businesses , citizens , government and philanthropy
• Long-term vision
For any community , county or state to be successful , it must have an energized , engaged and committed community foundation to provide leadership , investments through grants and support at all levels for nonprofits , businesses , residents and government . Community foundations serve all these roles for building healthy and long-term communities . Right now , community foundations are on the cutting edge of community economic development , attracting talent to West Virginia , supporting entrepreneurs and addressing substance use disorder , among many other important problem-solving roles .
Consider recent events to demonstrate the vital role community foundations play in regional infrastructure . In the last 17 months , since COVID-19 hit West Virginia , the state ’ s community foundations have been on active alert . Leaders from these foundations are working endless hours and collaborating to determine greatest needs . This has resulted in strategically pooled financial resources to fund nonprofit organizational survival ; survival grants to small businesses ; engagement of leaders at the federal , state and local level to ensure federal monies are put to use for needs in our rural communities ; and targeted promotion and support of nonprofits across the state .
In the DNA of every community foundation , there is a desire to create partnerships , bring resources , build up wealth and support what makes a local community stronger , better and healthier for the long run . A community foundation holds numerous permanent funds , which means that , annually , a percentage of its investment income on the individual permanent funds is awarded in grants . A community foundation democratizes philanthropy , allowing for donors from diverse backgrounds , careers and incomes to create a fund that will last forever . •
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WEST VIRGINIA EXECUTIVE