The Community Foundation of Greater Birmingham pools financial contributions from individuals, families and businesses to support nonprofits and improve the quality of life in Central Alabama.
The Foundation also offers its donors exciting ways to make giving simple and increase the impact of their gifts.
For example, a nonprofit can create a permanent, income-generating asset by opening an Agency Endowment Fund with the Foundation. The Trussville Noon Rotary Club (TNRC) created its Agency Endowed Fund in 2005.
“The club invests money with the Foundation, which increases the value of the money through investments,” Club President David Perry says. “The income supports scholarships and other charitable purposes.”
TNRC strives to help qualified students finance their college educations and provides up to five college scholarships per year. TNRC has also contributed to such causes as Lovelady Center, Children’s of Alabama and Trussville Public library.
Nonprofits who create a fund with the Foundation have their assets professionally managed as part of a larger, diversified portfolio, allowing for greater returns.
Perry said that TNRC would recommend the Foundation to other organizations. The club created its own Foundation Fund in the 1970s, but had the Foundation take it over.
“The decision to allow the Foundation to run this fund beginning in 2005 has resulted in a significant increase in returns over what the Club could produce,” Perry says.
In addition, the Foundation handles all administrative, legal and reporting responsibilities.“It’s very easy to start a fund with the Foundation,” Perry says. “Fees are both reasonable and competitive.”
The Trussville Noon Rotary Club uses their Agency Endowment Fund to grow scholarships and expand their community giving.
To learn more about the Community Foundation of Greater Birmingham, call 205-327-3800 or go to cfbham.org.
