CFHC Announces $1 Million in Assets28-May-2015
Community Foundation of Harford County announced today that it has $1 million in assets under management.
The foundation was established in 2007 and received its first donation--$100,000--in 2008 to establish the William A. Humbert Memorial Scholarship Fund, which provides a yearly $5,000 scholarship to an advanced instrumental music student from Harford County.
Community Foundation of Harford County grew to the $1 million mark in just eight years; the goal was 10 years.
“Community is our first name. Reaching $1 million in assets under management in less than 10 years in operation shows what it means to be community and how the foundation is making a difference in the lives of Harford Countians,” said Benny Walker, president of Community Foundation of Harford County. “We are grateful for the community’s support of our mission, which is to make our county a better place today and for future generations.”
Community Foundation of Harford County manages 40 charitable funds, established by members of the community, that focus on a wide range of topics, from education to animals to music to women, children, senior citizens and fighting hunger. Community Foundation of Harford County’s fastest-growing fund is the Women’s Giving Circle of Harford County with 129 members.
In 2014, Community Foundation of Harford County received accreditation from the Community Foundations National Standards Board. The accreditation--The National Standards for U.S. Community Foundations™-- is the nation’s highest honor for philanthropic excellence.
“It takes a community to build a community foundation,” said Scott Elliott, a founder of Community Foundation of Harford County and a current member of the board. “At the start in 2007, we thought it would take the first 10 years to build assets under management to $1 million. Accomplishing that goal in eight years shows we have the support of the Harford County community, and for that we are humbled and grateful.”
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 that matter on a local level. Since 2009, it has made grants of more than $212,000 to build a stronger, healthier, brighter community. Community Foundation of Harford County is one of 14 community foundations in Maryland and one of 700 across the country. For more information, visit cfharfordcounty.org.