VALPARAISO | In 2003, the Porter County Community Foundation recorded $11.4 million in assets. Over the next five years, with the help of growing donors, the group's assets have nearly tripled, climbing to $29.4 million in 2007.
In 2007 alone, the foundation took in $8.9 million -- a figure that represents a 43 percent increase in total funds. Each year since its inception in 1996, the group has grown -- garnering more donors and more funds.
Barbara Young, president of the foundation, said increases in assets help increase the group's ability to award grants and better serve the community. Young said much of the recent jumps in funding can be attributed to individual donations.
"More and more people are learning how their money can go farther," Young said. According to Young, an increasing number of individuals are including the foundation in their estate planning. Because these monies go into a big pot with a more sizeable financial return, individuals' money can go farther than if it were invested separately.
Many people are also participating in donor advised fund grants. These special grants allow individuals to make a financial gift to the foundation and become involved in its distribution. Not unlike professional grant committees, these individuals are involved in determining who receives the funds.
"People just love being involved," Young said. "It's probably one of the fastest growing forms of charitable giving in the country."
Between 2006 and 2007, the amount of money the Foundation took in from these grants more than doubled, standing near $600,000 in 2007.
Young also said that for many individuals, the program has become an inter-generational activity.
"Very often, we'll have a parent or grandparent who becomes a donor and extends it to include their kids," Young said.
In addition to the record-breaking increases for the foundation, the group has also seen significant increases in distribution of the funds. In 2007, the foundation broke the $1 million mark, distributing $1.2 million in grants in a single year.
These funds are distributed to local individuals, families and organizations for special projects and undertakings that would not normally be financially feasible. For example, recent health grants were awarded to organizations for start up costs, special education programs and additional medical equipment.
