Wednesday, June 2, 2010

Play Money Brings in Thousands

Coastal Community Foundation collected more than $13,000 for its unrestricted competitive funding programs at the Annual Celebration on May 8th, 2010. The distribution of the money to certain fields-of-interest was decided when donors played a game that included pictures of the Foundation's President's on the face of monopoly-type 5, 10, and 15 dollar bills. Those who participated in the fun chose their field-of-interest and placed the fake money with his or her field of choice to bid for which would receive the most.

Each person in attendance was given the same number of bills. The money represented the Foundation's gift to the donors, but donors could opt to contribute more and many did. After all of the donors spent his or her "money" and placed it into the "community chest" of his or her choice, the money was divided by field-of-interest and tallied up. Each field-of-interest will receive an amount proportionate to what was in their respective chest. Education received the most votes.

The purpose of the game was to promote the unrestricted funds or as some call them, "open-grants". Last year the Foundation awarded $275,000 through the Open Grants Competitive Program (Berkeley, Charleston Dorchester Counties) and $500,000 through The Beaufort Fund (Beaufort, Colleton, Hampton and Jasper Counties). Unrestricted funds can be distributed to any of the Foundation's six fields-of-interest (Arts, Environment, Education, Human Needs, Neighborhoods, and Health).

Nonprofits can still submit applications that will then be reviewed by committees comprised of individuals from the surrounding community. This process is what we call community-based grant-making where individuals who represent the community contribute to the grant-making process using their knowledge and experience. This is done to ensure the grants are distributed to those who need it most by those who know the surrounding community.

Although the deadline for the Open Grants program has passed (June 1st), we are still accepting applications for the Beaufort Fund and that deadline is Aug. 20th, 2010. To learn more about submitting an application please visit our Website and click on the GRANTS tab in the NONPROFITS dropdown box.

Overall, we commend those who pledged above and beyond what was expected and at the same time extend a hand of thanks. All of you exemplify how we as a community not only give but also lead.

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