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Foundation doles out funds

October 24, 2006

The Community Foundation of Washington County, Md. Inc. recently made annual distributions to seven of the organizations participating in the Waltersdorf Henson Endowment Challenge Campaign.

Investments returns from the past year allowed a 5 percent distribution, totaling $47,800, to seven participating organizations: Hagerstown Community College Foundation, Chesapeake Wildlife Heritage, Hagerstown YMCA, Mercersburg Academy, Saint James School, Star Community and the Maryland Symphony Orchestra, according to Brad Sell, executive director of the foundation.

The other participating organizations, Antietam Healthcare Foundation, Hood College, Magnolia/University of Md. Scholarship Fund, REACH Inc., Sunrise Rotary, St. Maria Goretti, United Way of Washington County and the Washington County Museum of Fine Arts, chose not to take a distribution this year, according to a community foundation press release.

The Waltersdorf Henson Campaign, which began in 2005, is designed to raise $10 million in endowments by 2010, which will provide at least $500,000 a year to benefit 16 area nonprofit organizations, according to the press release. The Richard A. Henson Foundation and the John M. Waltersdorf Family each put up $2.5 million to match the $5 million that will be raised by the participating organizations.

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The Community Foundation has 139 funds, with total assets of just less than $11 million, according to the press release. The foundation exists to promote philanthropy in Washington County by encouraging donors to create endowed or nonendowed funds. The foundation can accept a variety of assets but most funds are created using appreciated assets, such as stocks, because of tax benefits to the donor. Since the creation of its first fund in 1997, the foundation has distributed more than $2.1 million in charitable grants, according to the release.

Information about Community Foundation of Washington County Md. Inc. is available by calling 301-745-5210 or by sending e-mail to cfwc@hagcomfound.org.

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