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370 Main Street
Suite 650
Worcester, MA 01608
(508) 755-0980
Contact Us
Press Releases
May 12, 2009
Worcester, MA - Greater Worcester Community Foundation announced 2008 year-end results at the 34th Annual Meeting on May 12, 2009 at Mechanics Hall. Total assets were $88,798,356, a -29.7% change from the year before. More than $3.4 million in contributions were received, and $5.3 million was distributed in grants, including more than $542,000 in scholarships, which suppported 374 area nonprofit organizations and 372 college students.
"We underspend in strong years and pay out more in years with lower earnings," said Ann T. Lisi, executive director. "In 2007, we distributed 986 grants totaling $4.7 million, while in 2008, the Foundation approved 1,024 grants totaling $5.3 million."
Highlights of the year included a 25% increase in grants for arts and culture to more the $800,000; a first grantmaking round for the GLBT Partnership Fund which distributed $125,000 to eight projects fostering a safe and open community; a third Negotiated General Operating Support grant to Jewish Family Services to allow the elderly to age in place; and the receipt of more than $537,000 from two planned gifts (bequests).
Foundation officers for 2009 were elected at the meeting: Peter H. Levine, MD, President, R. Joseph Salois, Vice President, Thomas J. Bartholomew, Treasurer, Ellen S. Dunlap, Clerk, Warner S. Fletcher, Officer at-large and Mary C. Ritter, Officer at-large.
Greater Worcester Community Foundation, a 501(c)(3) nonprofit organization, is a grant maker, a resource for philanthropy and a community builder. It was founded in 1975 by local citizens who envisioned a coordinated endowment as a means to build a vibrant community and to respond to changing conditions. In 33 years, the Foundation has awarded more than $65 million to cultural, service and civic organizations.
For a copy of the newly released 2008 Annual Report, please visit www.greaterworcester.org or call 508-755-0980.