About Community Foundation
Who We Are
(A Brief History)
We began operations on July 11, 1978 as The Garrison Community Foundation, a non-profit 501(c)(3) public charity. Initial funding of $726,524 came from remainder assets of the closed Garrison Community Hospital. Our current total assets are more than $113 million, with over $15 million of that total in unrestricted community endowments.
In 1987, the name was changed to The Community Foundation of Gaston County, Inc., to better describe its broad community role. The historic name was preserved by simultaneous renaming of the main general fund— now known as the Garrison Fund.
Of over 266 charitable funds now under its care, the largest single fund is the Allen H. and Anne R. Sims Fund which houses an unrestricted bequest now valued at more than $5 million. The largest-ever single gift to the Foundation was $7.8 Million in a bequest from the late Frank Davis, a longtime Gastonia cotton buyer/broker, which is now divided into two funds. The Foundation also assists Donors in creating a variety of planned giving options for a charitable legacy.
The Foundation also manages many other unrestricted funds, along with those designated for a specific charitable organization and many advised funds where the individual or corporate donor can recommend use of the proceeds for a variety of community causes.
The Foundation's office is located at 1201 E. Garrison Blvd. in Gastonia. Utilizing a dedicated staff of four to effectively build development efforts and to efficiently manage administrative needs the Foundation uses well under 1% of net assets annually for operating costs.
Throughout 30 years of progress, our commitment has been apparent in our mission statement: the Community Foundation is the primary steward of philanthropic giving by connecting donors with community needs to enhance the lives of present and future generations..
Fact Sheet
As of 2006 Year End |
| Total Assets |
$113,539,865 |
| Unrestricted Assets |
$15,609,080 |
| Number of Funds (includes 16 unrestricted endowments) |
266 |
| Total Gifts in 2006 |
$6,803,504 |
| Grants Approved in 2006 from unrestricted funds |
$355,685 |
| Total Grants paid in 2005 |
$4,358,374 |
| Total Grants since 1978 inception |
$49.2 Million |