2009 Highlights (audited financial information will be released in the spring of 2010)
In 2009, the Greater Cedar Rapids Community Foundation awarded grants to 331 nonprofit organizations and funded 81 scholarships, providing $8.2 million in support grants supporting arts and culture, community development and the environment, education and health and human services in Linn County.
As of Dec. 31, 2009, the total assets of the Greater Cedar Rapids Community Foundation were $95 million.
Since becoming a public foundation in 1992, the Greater Cedar Rapids Community Foundation has distributed more than $55 million in grants.
As of Dec.31, 2009, the GCRCF endowment pool investment return was 22.7%. The three-year return was -3.5%; the five-year return was 3.1%. The return since inception (1/94) is 7.6%.
In 2009, there were 40 new funds established by individuals, families, businesses and nonprofits. The Community Foundation now has 539 funds.
Through the County Endowment Fund program, each non-gambling county throughout Iowa, including Linn County, received nearly $387,271 for charitable purposes, distributed through qualified Community Foundations like the Greater Cedar Rapids Community Foundation. 25% of the funds help build the Linn County Endowment Fund, and 75% pass through in grants for projects in rural Linn County.
The William Quarton Society, honoring those who have established an endowed fund or will make a planned gift, grew to more than 250 members in 2009.
In response to the devastating flood that occurred in Cedar Rapids and surrounding areas on June 13, the Community Foundation established the Flood 2008 Fund as a way to collect and distribute donations to local nonprofits. In 2009, the Community Foundation awarded 36 nonprofits approximately $2.7 million.
The Bridge Builder award was presented to Tom Moore, founding board member and executive director of the African American Museum of Iowa. The Bridge Builder award honors the exceptional achievement of a chief executive of a Linn County nonprofit organization.
Mr. Moore received the Bridge Builder award for his leadership in the development and sustainability of the organization, particularly with a successful $1.7 million capital campaign and recovery from the flood that destroyed the museum in 2008. Mr. Moore’s vision and commitment since 1994 has enabled the museum to open satellite offices in Davenport and Des Moines, becoming them the leading resource on Iowa’s African American history and culture.
The Minnie Rubeck award was presented to Kathy Kaiden, director of Director of Development and Youth Development at Young Parents Network (YPN). The Minnie Rubeck award, named for an early contributor to the GCRCF, is awarded to a nonprofit professional staff member.
Ms. Kaiden was honored in recognition of her 18-year commitment to YPN. She currently manages YPN’s annual signature fundraising event, Broadway Maybies, and has authored grant applications garnering the organization more than $2 million in funding to help support the organizations services to families and children in Eastern Iowa.
A sincere thanks goes to outgoing board members, Rich Patterson and Gary Skogman, who terms ended in 2009. Rich has served on the board since 2004 and served on the Fund for Educational Excellence grant committee.
Gary served as on the board since 2004, including board chair in 2007 and the served on the Momentum grant committee.
Both made significant contributions of time and leadership, and their support is deeply appreciated.
