During the first quarter of the Straits Area Community Foundation’s (SACF) 2018 fiscal year (October 1 through December 31), the organization’s assets increased to $2,452,084.
“Through new gifts and investment income, SACF’s funds serving Cheboygan County and Mackinaw City grew by over 15 percent from the same time period last year,” said SACF Board President Beth Carusi. “SACF also awarded over $18,000 in grants so far. That is an incredible testament to the power of endowments, because that funding is available year after year, and those are just grants from our first quarter.”
The grants were awarded throughout Cheboygan County and Mackinaw City. Those awards include many annual distributions to local nonprofit agencies through the Community Foundation’s numerous agency funds and designated charitable funds.
In its first quarter, SACF also received just over $87,000 in contributions.
“Our whole staff, board and committees are constantly amazed and humbled at the generosity that pours into our community in the interest of helping our local nonprofits, supporting the Community Foundation’s mission, and providing for the present and future needs of the Straits Area,” said Carusi.
The Straits Area Community Foundation serves Cheboygan County and Mackinaw City. SACF is an affiliate of the Community Foundation for Northeast Michigan (CFNEM), which holds combined assets of over $45 million. CFNEM serves as the administrative arm for its affiliate foundations. SACF is led by a volunteer board of local citizens committed to providing people who care about the future of the region and its communities with unique and effective ways of supporting their community now, and for generations to come. The foundation oversees a group of permanently endowed funds from a wide range of donors. Gifts of all sizes from individuals, families, business and agencies are invested in a balanced, well-managed portfolio to build endowments, enabling support for local community nonprofits now and forever. To make a donation or learn more about how community foundations work, visit www.sacf.net or call 989-354-6881; toll-free: 877-354-6881.