Community foundations help donors support their favorite charitable causes and nonprofit organizations by creating permanent endowments that will last forever. Whether it’s your alma mater, an environmental cause, a local theater, daycare, recreation center or senior citizen program, a gift to the Community Foundation can make your generosity live on. By establishing an endowed fund or adding to an existing one, a donor can continue their great tradition of giving.
We’ve all heard about the power of compounding, and the Eastern West Virginia Community Foundation thrives by investing with a focus on long-term growth.We keep our costs low to grow the funds and we award grants back to the community from a portion of the gains. In 2013 our endowed funds earned an average annual rate of return of 14.4% and last year 5.6%. Returns are net of our very reasonable investment fees of 0.35% annually. We put those gains to good use awarding nearly $540,000 in charitable grants and scholarships in 2014.
To help support operations, each endowed fund contributes 1% annually, which covers approximately 60% of our expenses. Corporate Partners in Philanthropy, private foundations, and individual donors also help with annual operating expenses.
Special Thanks to our Investment Advisors and the local and regional financial institutions where they work for providing outstanding services at a reduced fee in support of the mission of the Community Foundation:
Leslie Crabill and Joe Smith of BCT—Bank of Charles Town
Keith Unger and James “Rusty” Hudnall of City National Bank
Tom Peterson and Chenoa Everett of CNB Bank, Inc.
Matt Kradel and Scott Rush of First United Bank & Trust
Adam Stewart of United Brokerage Services, Inc.
Susan Cassidy and Ed Nell of BB&T Retirement and Institutional Services