The Community Foundation of the Verdugos, which manages our organization’s $89,000 endowment and is a resource for charitable endowments and community donors, held its general meeting March 30, 2016 at Brand Library and Art Center.
Executive Director Edna Karinski and President Lee Wochner reported that in 2015, the Foundation granted more than $1 million in funds to local nonprofits. The foundation’s goal is to increase its endowment, expand grantmaking, and further strengthen community nonprofits.
Friends President Elise Kalfayan attended and took part in the meeting’s decision making exercise: allocating play money to nonprofits which had presented their work.
The foundation links donors and their interests with local nonprofits, including the Friends of the Glendale Public Library. Each year it provides grants in specific areas: arts and culture, children and youth, community interests, and environmental needs.
We’ve received grants in the past from the Foundation, and hope to apply again in a future cycle. A creative project that benefits the library and its users, and a fundraising volunteer who can help write and administer the grant, are the basics we need!
Our organization’s endowment, managed by the Community Foundation of the Verdugos, is approximately $89,500, from which only interest is available each year. The Friends Board allocates this interest income together with other revenue (from memberships and donated book sales) to support library programming and purchases.
Thank you to the Community Foundation of the Verdugos! Check out the Facebook Album of the meeting.