President/CEO Maddy Metzger-Utt spoke about the Community Foundation of Snohomish County at the February 18 meeting. 
                                                                Maddy Metzger-Utt
 
The Community Foundation of Snohomish County is a new name for the Greater Everett Community Foundation. It was felt that the new name better reflects the area served by the foundation which began as a community foundation in 2001.  Started as the Everett Parks Foundation and became a community foundation in 2001.
 
Raises, manages, and gives funds to charities for donors in Snohomish County and Camano Island.  $800,000+ given in 2015 to non-profits.  109 different charitable funds.  $9 million in grants awarded since 2001.
 
Donor advised funds can be set up by a donor and the donor decides which charities to support.  A designated fund can be set up for a specific organization.  It also manages agency endowments. 
 
The Arlington Rotary scholarship fund was the first scholarship fund set up.  $89,000 has been contributed, plus investment income. At the end of 2015 it had a balance of $64,266, with $12,487 being available to distribute. Historically the club has added funds each year and the fund has grown. See editor's note below for more about the fund.
 
A donor can set up a legacy trust for after you pass. 
 
Funds are invested, earnings are used for grant making, pooled together to get a better rate of return.  7.32% over the last 13 years. 
  
Since 2002 $116,100 in grants have been given to Arlington area nonprofits.
 
The foundation hosts networking sessions four times per year.  "Board on Fire" pilot program to teach boards to work together more effectively and efficiently.
 
More than 500 participants have attended community foundation workshops in the past two years. 
 
"Leader Link" helps busy people who want to serve find local nonprofit boards that meet their interests and passion. 
 
This year there will be four fundraising events with one in Arlington in June (details not firmed up).  All money goes to support non-profit work.  All administrative costs are covered with other funds. Everett area families stepped up early to endow an operating fund.
 
Editor's Note:  Here is some information from the Project and Grant's Page of our website with some background regarding the scholarship fund that our club has at the Community Foundation:
 
Ruth Williams passed away in a Marysville nursing home Monday. October 2, 2000.   She was 84, and until recently lived in her home near Darrington.

Chet Williams was the manager of the Seafirst Bank branch in Darrington   prior to his death.   He was a member of our Rotary club.   At his death we established the Chet Williams scholarship at Darrington High School.

Chet and Ruth had no children.   Ruth has provided that her estate is to go our Rotary Club to be used for scholarships.   She was very proud of the fact that we had thought enough of Chet to establish the scholarship.
....

The Snohomish County Community Foundation (SCCF) [note: merged with Community Foundation] will be asked to establish an endowment with the proceeds of Ruth Williams Estate, and contributions from Windermere, Patti Buchholz, and Bailey Duskin and Peiffle.   The fund will begin with $5,584.

All of the funds going to scholarships this year, totaling $13,000, will be channeled through SCCF to make them elgible for matching funds through the Dollars for Scholars program.

With regards to the endowment fund, it is the intention of the Board to establish a fund which will grow through investments and additional contributions.   It is expected that 5% of the fund will be made available each year to help with the cost of the scholarships.   Any return on the investment in excess of 5% will be left in the fund to grow.
 
[Think about making a tax deductible gift in your will or during your lifetime to the fund to help it grow!]
 
 
Sponsors