Dear Friends of the Community Foundation,
I hope this note finds you doing well and enjoying some nice spring weather.
We are grateful to be your trusted philanthropic partner and proud of what we have accomplished together for our community. Last fiscal year, our community of givers collectively awarded more than $92 million in grants to nonprofits addressing the most pressing needs of this region. This was also a record year of growth for The Community Foundation, as we welcomed 54 new funds and surpassed over $517 million in assets due to your generosity and investment in our new strategic vision and broader community impact.
Last quarter, our ongoing work to support and strengthen this community included:
Reactivating Equity Hubs in Montgomery County, a proven program to support virtual learning for children and their families that was launched during the pandemic by our Children’s Opportunity Fund, County government, and several partners.
Launching a new cohort of the Emerging Leaders Impact Fund, a giving circle that involves and inspires young professionals to create positive impact in Prince George’s County through philanthropy.
Releasing a second round of Housing Justice grants in honor of Waldon Adams from our Partnership to End Homelessness to support seven organizations and coalitions leading systems change efforts to increase the supply of affordable housing in DC.
Welcoming the historic $95 million Health Equity Fund to our philanthropic family. The purpose of this transformative fund is to improve the health outcomes and health equity of DC residents.
Over the last year, we’ve taken additional steps to align our core business with our vision for a just and equitable region, while also enhancing our investment management services to help meet your objectives. In partnership with SEI, a leading global investment management firm that serves as our Outsourced Chief Investment Officer, we have broadened the asset allocation for endowed funds that were invested in our Combined Investment Fund to expand return potential while managing risk across a variety of market environments.
With the start of a new fiscal year, we have also adjusted our support fees structure for endowed funds to help more of our donors support this community now and for generations to come. And we recently updated our Investment Policy Statement to outline our approach to exercising socially responsible stewardship in managing financial resources, including a “Do No Harm” policy that prohibits funding to organizations designated as hate groups.
Thanks to your generosity and the inspiring service of our community partners, I am hopeful about what we can accomplish together in the year ahead.
Sincerely,
Tonia Wellons
President and CEO
Greater Washington Community Foundation