In 1949 seven community-minded leaders - Robert C. Armstrong, Edwin Evans, John T. Hamilton, Van Vechten Schaeffer, A. L. Smulekoff, Frank T. Welch and T. M. Ingersoll - established the Community Welfare Foundation of Cedar Rapids. Originally established as a private foundation for the purpose of receiving gifts and bequests of individuals wishing to provide support for charitable enterprise in the city of Cedar Rapids, the Community Welfare Foundation experienced only modest growth for its first twenty-three years. In 1972, however, the Community Welfare Foundation received its first significant bequest from the estate of Minnie Rubeck, a cleaning lady employed by a local utility company, valued at more than $300,000.
In 1987 local radio and television entrepreneur William B. Quarton changed the scene of Cedar Rapids philanthropy by offering a challenge to his friends at the Community Welfare Foundation. If the Foundation would agree to change the IRS tax status of the Foundation from "private" to "public," change the name to reflect the broader interests of the rapidly growing Linn County community, and pledge to raise an additional $450,000 in permanent endowment, he would match the funds raised, dollar-for-dollar, by means of a $900,000 charitable lead trust. The challenge was quickly accepted and successfully achieved, and following a mandatory five-year transition period, the Greater Cedar Rapids Foundation received its 501(c) (3) designation from the IRS in 1992.
William B. Quarton left a powerful legacy upon his passing at age104 in August 2007. His $35 million planned gift to the Community Foundation tripled the organization’s unrestricted assets and created endowments for four organizations. His vision will benefit generations of residents for many years to come.
The Community Foundation continues to honor William Quarton and his spirit of philanthropy with the William Quarton Society, honoring those who have established an endowed fund or will make a planned gift. This growing group of local philanthropists now stands at more than 250 members.
The Flood of 2008 will forever be part of the Greater Cedar Rapids Community Foundation. On June 13, 2008, downtown Cedar Rapids and surrounding areas were inundated with floodwaters from the Cedar River. Thousands of homes, businesses and cultural sites were destroyed or severely damaged. The Community Foundation established the Flood 2008 Fund a day before the crest. This fund has granted $5.6 million to 76 local nonprofits as of June 1, 2010.
Since its initial phase, the Greater Cedar Rapids Community Foundation has experienced significant growth. In its most recent year-end (2009), the Community Foundation made charitable distributions of $8.2 million, and held assets of approximately $95 million.
The Community Foundation has more than 500 funds established by individuals, families and businesses.
The Greater Cedar Rapids Community Foundation exists to promote community philanthropy and to accept gifts to and make grants from the "community's endowment." We provide our donors and fund holders with the highest possible level of philanthropic stewardship and professional services. We are responsive to the ever-changing needs of Linn County's charitable sector and will continue to be a catalyst for solutions that have lasting impact.
