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The Mid-Shore Community Foundation held its 14th Annual Meeting on Thursday, September 14 at the Historic Avalon Theatre with a record 250 people in attendance, illustrating the growth the Foundation has seen in the last year.
Charles T. Capute, Esq., chairman of the Foundation Board gave a brief history of the organization, remembering its beginnings with a $236,000 gift in 1992 from the will of Colonel Edgar Linthicum and his wife, Catherine. Since then, the Foundation’s assets have grown to $29.3 million, representing 130 funds, including 28 new funds that were created in FY 2006. Capute credited the Board of Directors with helping to grow the organization to what it is today. He commented, “I’m proud of our board of directors, who serve as community catalysts – connecting private monies with public needs.”
Mid-Shore Community Foundation is one of the largest funders of non-profit organizations in the region. Each year, thousands of dollars in grants support groups working in education, health and human services, arts and culture, the environment and other issues affecting our communities. F. Graham Lee, president of the Foundation, stated, “In fiscal year 2006, grants and scholarships totaled $688,833 and went to 170 non-profits, up from fiscal year 2005 where $639,318 went to 150 non-profits. In addition, 49 non-profit agency endowment funds have been created since 2003 as a means of protecting charitable dollars for the future of their work and their mission.”
Elizabeth Watson, executive director of Stories of the Chesapeake Heritage Area, one of the non-profits which have established an agency fund with Mid-Shore Community Foundation, spoke at the meeting, commenting, “We have one of the premiere colonial landscapes in our region. Mid-Shore Community Foundation will enable us to bring resources to a community of heritage enthusiasts in our region.”
Dr. Reginal Harrell, PhD, Associate Dean for Research at the College of Agriculture and Natural Resources, University of Maryland, also spoke at the event. The University, through the Mid-Shore Community Foundation, established a $50,000 designated scholarship fund for students on the Mid Shore enrolled in their programs. Dr. Harrell added, “Twenty-five percent of agriculture in Maryland comes from the five Mid-Shore counties. We are interested in students from these counties who want to come to the University of Maryland College Park and then return to their homes and perpetuate these agricultural businesses. Mid-Shore’s gift to us makes college affordable for these students. The return on the investment will create a legacy that will continue to give back to the Mid-Shore community.”
Lee announced the recipients of the Foundation’s “Golden Key Society,” founded to honor and thank those professional advisors who have opened the door to philanthropy and who have guided their clients to Mid-Shore Community Foundation in order to meet their individual charitable objectives through estate or financial planning. This year, C. Albert Pritchett with Merrill Lynch and Richard B. Grieves with Janney Montgomery Scott received awards.
Lee reported that the Mid-Shore Community Foundation Board of Directors will embark on two major activities in the coming year, including a Community Needs Assessment Study, being conducted by the Business, Economic, and Community Outreach Network at Salisbury University. This report will guide the Foundation’s future grantmaking and advocacy efforts. The second area of activity is to update Mid-Shore Community Foundation’s Strategic Plan, looking at all major facets of the Foundation’s operation: Administration, Finances, Governance, Marketing and Program.
For additional information on the Mid-Shore Community Foundation, contact F. Graham Lee, President, at (410) 820-8175.
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