LEXINGTON AREA COMMUNITY FOUNDATION SURPASSES $1 MILLION IN TOTAL ASSETS

The Lexington Area Community Foundation has surpassed $1 million in assets, as recently announced by its board of trustees.

The Foundation, which serves the Lexington area and Davidson County, is comprised of charitable funds established by individuals and families who wish to maximize the impact of their charitable giving. Area nonprofits also establish funds with the Foundation to ensure their sustainability and financial future.

In addition to managing charitable funds, the Lexington Area Community Foundation is a grantmaking entity, providing support to area nonprofits through its community endowment fund. Overseen by a local board of trustees, the community fund is a permanent endowment that will provide grantmaking dollars to area nonprofits in perpetuity.

the Lexington Housing Community Development Corporation was among the Foundation’s 2011 grant recipients. The organization used its $2,000 grant award to sponsor four bilingual foreclosure prevention clinics and to offer follow-up counseling sessions. Through partnerships with the Consumer Credit Counseling Services in Greensboro, these clinics assisted 90 clients, 20 of whom were facing foreclosure. Of those, 15 individuals were able to keep their homes through the assistance provided, according to Interim Director Chris Fulton.

The Foundation was established in 1996 to increase the charitable giving resources in the Lexington Area and across Davidson County. From its first contribution of $50,000 from the estate of Casper and Ella Timberlake to create a community endowment, the Lexington Area Community Foundation has grown into a philanthropic organization managing 13 funds with total charitable assets of $1 million. Endowed gifts, such as that of the Timberlake estate, allow organizations to plan for the future and ensure funding support beyond immediate and short-term needs.

The Lexington Area Community Foundation is pleased to welcome two new members to its board in 2012 — Stephen “Bit” Holton and Pepper Younts.

The Lexington Area Community Foundation 2012 Board of Trustees are: Chairwoman Jane L. Whitehurst, Vice Chairman Robin A. Team, Dr. R. Edgar Timberlake Jr., Secretary David Inabinett, Cathryn C. Coles, Jimmy A. Holshouser, Stephen Holton, Harold G. McNeill, Mac Parrott, Sandra L. Reynolds, Paula Turlington and Pepper Younts.

For more on grants and grant writing, visit Grant Pros.

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