Advertisement

Community Foundation of Washington County's assets grow

Nonprofit organization has nearly $23 million in assets

August 04, 2011
  • Brad Sell, Executive Director of The Community Foundation of Washington County, speaks about the Strategic Community Impact Plan, (SCIP), in this Herald-Mail file photo. Sell wrote in an email that the foundation began the fiscal year with just over $18 million in assets and ended the year on June 30 with almost $23 million in assets.
Herald-Mail file photo

Assets of The Community Foundation of Washington County grew by a record 28 percent in fiscal 2011, according to the nonprofit organization.

The foundation began the fiscal year with just over $18 million in assets and ended the year on June 30 with almost $23 million in assets, an email from the group said.

"Our previous best year was $3.3 million during fiscal year 2007," foundation Executive Director Brad Sell said in the email.

This year's growth was a combination of $1.6 million in new contributions and $4.1 million in appreciation, dividends and interest on the foundation's investments.

"When we subtract the $813,000 in grants and the management and investing fees, we come up with the change in assets for the year," Sell said.

"We are an organization that emphasizes endowment funds to support the nonprofit community and we are pleased that 85.3 percent of our assets are permanent endowments," Sell said. "As these assets continue to grow over time, more and more dollars will be available to the endowed nonprofits and the entire community benefits."

The foundation has distributed more than $8 million in grants since 1997, the email said.

The foundation said it was pleased with the performance of the organization's money managers, Mason Investment Advisory Services, of Reston, Va.

With a new sophisticated, diversified, and more aggressive allocation model, the foundation's investment returns have been among the best in the nation, according to the email.

"We want donors to know that we will be able to help them achieve their charitable goals now and forever," Sell said.

Advertisement
The Herald-Mail Articles
|
|
|