MONTEREY COUNTY — Local individuals, families and businesses who partnered with the Community Foundation for Monterey County (CFMC) together set a new mark for generosity in 2018. Grants totaling $18.7 million were awarded to more than 746 nonprofit organizations, the CFMC announced in their 2018 Annual Report.
The CFMC funds critical needs and causes in the Monterey region and beyond. The $18.7 million in grants is a new record, a 12% increase over the previous record $16.7 million granted in 2017. Grants helped inspire young artists and musicians, feed the hungry, shelter the homeless, improve literacy, care for animals, protect the environment, and help students fund a college education.
Approximately $7.2 million, or more than one third of the total grantmaking came from donor advised funds, through which people support a wide range of causes. The year-end Monterey County Gives! campaign raised and granted over $4.8 million. Monterey County Gives! is a partnership of the Monterey County Weekly Community Fund, the CFMC and the Monterey Peninsula Foundation.
Scholarships nearly doubled from $750,000 awarded to 225 students in 2017 to $1.3 million awarded to 375 recipients in 2018, thanks in part to the College Futures Monterey County scholarship initiative and businesses with employee scholarship programs.
The CFMC created a Community Impact Investment program in 2018. By investing a small portion of the long-term portfolio in community development finance organizations, small farms and businesses receive loans to help their businesses thrive. The CFMC also conducted community leadership work in areas of homelessness, affordable housing, the 2020 Census and support of many of the community’s vital nonprofits.
“The generosity of Monterey County residents continually amazes us.” said Dan Baldwin, CFMC President/CEO. “We are committed to leveraging these resources into maximum benefit for our neighbors and our communities,” he continued.
2018 CFMC Highlights:
- Granted $18.7 million to 740 nonprofits
- Received $22.5 million in gifts
- Monterey County Gives! year-end giving campaign fueled a record $4.8 million in grants
- Awarded scholarships totaling $1.3 million to 375 students
- Surpassed $247 million in assets ($260 million as of July, 2019), putting CFMC in top 100 of community foundations nationwide
- Created Community Impact Investment program
- Launched the Siembra Latinos Fund
Information on grants can be found at www.cfmco.org/grants. Nonprofits can also benefit from workshops, consulting, professional development and organizational development grants through the CFMC’s Center for Nonprofit Excellence at www.cfmco.org/cne.
About the Community Foundation for Monterey County
The mission of the Community Foundation for Monterey County is to inspire philanthropy and be a catalyst for strengthening communities throughout Monterey County. Individuals, families and businesses create charitable funds at the CFMC to fulfill their philanthropic vision in their lifetimes or through their estates. These funds fuel millions of dollars of grants annually, creating healthy, safe and vibrant communities. The CFMC stewards more than 500 funds and $260 million in charitable assets. For more information visit www.cfmco.org, call 831.375.9712 or stay connected at www.facebook.com/cfmco or www.twitter.com/cfmco.