The Community Foundation of Harford County has added five new funds. Here are the details they sent along:
COMMUNITY FOUNDATION OF HARFORD COUNTY ANNOUNCES FIVE NEW FUNDS
Bel Air, Md., August 19, 2013 — Community Foundation of Harford County (CFHC) announces the addition of five new funds.
The Albert P. Close Foundation Fund was established with a $50,000 donation by The Albert P. Close Foundation, a nonprofit in Harford County that provides troubled youth in the county with hope and help for their futures. The earnings from the CFHC fund will be used to supplement the Close Foundation’s annual grants provided to Harford County community organizations each year.
The Helen Anderson Memorial Fund was created through a bequest from Helen Anderson, a longtime Aberdeen resident who died in 2012. Nearly $80,000 was provided to the Community Foundation for its operating endowment, the Harford Community Fund and the annual operations of the foundation.
The Edgewood Lions Club has established two funds—Edgewood Lions Club Endowed Fund and the Edgewood Lions Club Non-endowed Fund. Each fund was started with $15,000, and proceeds will be used for projects in Edgewood.
The Lower Susquehanna Heritage Greenway Endowment Fund was opened with a $10,000 donation. The fund will be used to assist the Darlington-based nonprofit in its work in developing a linkage to natural, historic and cultural resources through land and water recreational trails.
The funds donated are invested and managed by CFHC, and the assets grow like a savings account. The interest earned on permanent funds, which are called endowments, is given back to the community through grants. For a fund that is non-endowed, both principal and interest are used for grant distributions.
“Community Foundation of Harford County is honored to be working with these five new funds,” said Tamara W. Zavislan, executive director of the foundation. “The work that each does impacts the quality of life in Harford County and helps meet the current and future needs of our county and its residents.”
Community Foundation of Harford County is a nonprofit organization supported by the community through donations, enabling individuals, families and businesses to leave a legacy to benefit the causes about which they care. Charitable gifts are used to make Harford County stronger through grant-making to local nonprofits and through scholarships. Since 2009, CFHC has awarded more than $136,000 in grants to Harford County nonprofit organizations. CFHC is one of 14 community foundations in Maryland and one of 700 across the country.