The Board of Trustees of the National Catholic Community Foundation held its annual meeting on Friday, Oct. 18.
Dana Robinson, chair of the board, provided a report indicating the activities and trends for the Foundation, which is completing its 16th year.
He noted that donor advised funds were growing and that the aggregate value of all the donor advised funds is now $7,172,000. This compares with an aggregate value of $4.5 million at the end of the third quarter in 2012.
He said that the contributions and grants activities were also going in the right direction. “Year to date we have received 263 contributions totaling $1,205,000 and you have authorized 52 grants totaling $454,000. At this time last year we had received 165 contributions with a total value of $620,000 and we had made 47 grants totaling $236,000,” Mr. Robinson said.
He reported that the value of annuities funds remained about the same as the previous year, even though NCCF has made significant payouts in the last 12 months.
He noted that the asset base of NCCF is $9.5 million. However, he said it was more notable that NCCF has disbursed $11 million in grants from donor advised funds and another $430,000 in annuity payments.
The trustees also unanimously passed a resolution commending Mr. Paul Phillips who has served as both a trustee and chair of the investment council. Following is the text of the resolution.
Whereas Paul Phillips has served faithfully and tirelessly on the Board of the National Catholic Community Foundation for twelve years, and
Whereas he has executed responsibly and effectively the duties of Chairman of the Investment Council during that entire time, always with patience, humor and sound judgment, and
Whereas under very challenging economic and developmental circumstances he has exhibited unfailing leadership and encouragement,
Be it hereby resolved, by a unanimous vote of the Board of Trustees of the National Catholic Community Foundation that Paul Phillips receive this official recognition, appreciation and gratitude for his limitless commitment of time, talent and wisdom to the National Catholic Community Foundation.