Endowment

The Community Foundation of Washington County manages charitable endowment funds for a variety of people and groups interested in charitable giving in Washington County. Individuals, families, corporations, institutions, courts, bequests, private foundations and charitable organizations may establish funds through the foundation. The foundation will invest the money, monitor its earnings, handle tax and administrative details, and make gifts as directed by the donor. Brad Sell, executive director of the foundation, said the foundation started in 1997 with less than $10,000.

Washington County's new main library in downtown Hagerstown is expected to open in March 2013, about six months later than the original target date because of some unexpected issues, said Joseph Kroboth III, the county's public works director. Kroboth led the Washington County Commissioners on a tour of the new library Tuesday afternoon. The original construction bid for the project was $15.9 million, but there have been $500,000 in approved change orders so far, Kroboth said. Several hundred thousand dollars more in change orders are expected, he said.

The Community Foundation of Washington County MD Inc. has announced that the Rotary Club of Hagerstown Sunrise Foundation Inc. has reached its Waltersdorf/Henson Endowment Challenge Campaign fundraising commitment of $100,000. Members of the Rotary Club of Hagerstown Sunrise, along with foundation members presented Brad Sell, executive director of the Community Foundation the final installment of their fundraising efforts. The Community Foundation has already transferred $50,000 into the Rotary Sunrise endowed fund, and this final installment insures that Sunrise Rotary will receive all of its matching dollars.

marieg@herald-mail.com On Thursday afternoon, Hood College President Ron Volpe reaffirmed his school's connection to students from Washington County. And new scholarships should nurture that connection. At a reception at Fountain Head Country Club, north of Hagerstown, he announced that the school is one of 16 community organizations and institutions participating in the Waltersdorf-Henson Endowment Challenge Campaign. The John M. Waltersdorf Family and the Richard A. Henson Foundation have agreed to give $2.5 million each to support the challenge campaign.

SHIPPENSBURG, Pa. - The Community Environmental Legal Defense Fund, a grass-roots group of lawyers and environmentalists, has received its second substantial grant this month, the organization announced Wednesday. The Laurel Foundation of Western Pennsylvania announced Wednesday it is giving the Shippensburg-based Community Environmental Legal Defense Fund a $20,000 grant to help it continue its operations. The fund, which runs on an annual budget of about $150,000, depends on grants and donations from individuals, foundations and endowments for its existence.

scottb@herald-mail.com A Community Foundation of Washington County permanent endowment fund has been established to help City of Hagerstown employees further their education and training, foundation Executive Director Bradley N. Sell said Thursday. The seed money for the fund came from former City of Hagerstown Project Coordinator Austin Abraham. Abraham donated about $1,450 in accrued vacation time to the foundation in September 2001 when he left the city to take a job with the Frederick County government, Sell said.

The Community Foundation of Washington County plans to announce next week an endowment challenge to benefit local nonprofit organizations. Details and guidelines still are being worked out, according to Executive Director Brad Sell, but a news conference to announce the Waltersdorf/Henson $10 million Endowment Challenge has been scheduled for 4 p.m. Thursday. The Community Foundation exists to encourage philanthropy, Sell said. Charitable donors establish endowments for nonprofit groups, and the foundation invests and manages the money.

Students attending the University System of Maryland at Hagerstown will be the beneficiaries of a $425,000 permanent endowment made possible by the Waltersdorf/Henson Endowment Challenge. A matching grant has been awarded to the Magnolia Foundation Scholarship Fund, which is the scholarship foundation for the Hagerstown center. The Magnolia Foundation Scholarship Fund competed for matching-grant money available through the Community Foundation of Washington County's Waltersdorf/Henson Endowment Challenge Campaign.

HANCOCK - As promised, the second endowment fund tied to a Washington County town or area has been launched, this one in Hancock. As was the case with the South County Fund launched in July, a Community Foundation of Washington County board member led the charge to start the Hancock Fund, foundation Executive Director Brad Sell said. AC&T executive Adna Fulton, who is originally from Hancock, donated $10,000 in memory of his late wife, Barbara, to get the fund started. The kickoff event was held at the home of Ross Cook and Dr. Carol Becker.

The Community Foundation of Washington County MD gives grants to other nonprofit organizations and manages charitable endowment funds for groups and individuals. The Community Foundation was started in 1997 with less than $10,000. By 2006, that had grown to about $11 million. Individuals, families, corporations, institutions, courts, bequests, private foundations and charitable organizations may establish funds through the Community Foundation. Each fund must begin with a minimum donation of $1,000 in cash or property.