FAYETTEVILLE, N.C. (AP) - What was started by one woman with the donated stock of $576,840 in 1980 has grown into a foundation with more than $100 million in assets and more than 500 funds held.
Cumberland Community Foundation passes $100 million in assets.
Lucile West Hutaff started the Cumberland Community Foundation with the idea of giving together to enhance the quality and spirit of community life, according to the foundation’s website.
Mary Lynn Bryan was one of the few people to be asked to join one of the earlier boards when the foundation started and helped with the strategy of getting the foundation to what it is today.
“I was asked to come on the board, which was an honor to do because it was an opportunity for Fayetteville to grow vital philanthropic dollars to support the community in civic endeavors,” Bryan said. “The goal was to invest the money that people gave us and take the interest from those funds and use it for good philanthropic deeds for the community.”
Bryan said getting to the first million dollars in assets wasn’t easy.
Cumberland Community Foundation has had four decades to make connections with various other organizations in the community, gaining a lot of support.
“The foundation grew because of a systematic approach of welcoming donors of all abilities to give to support a variety of causes,” said Mary Holmes, executive director of Cumberland Community Foundation. “So, the community foundation has grown because we have no doubt that anyone can give any amount to like the Friends of the Library endowment, or the Care Clinic endowment or the Botanical Garden endowment or the endowment for the arts. We have endowments that people can make a $25 gift. You don’t have to be rich to make a difference.”
It is the strong ties to the community that continue to push the foundation further.
“So many of our nonprofit organizations live hand-to-mouth, struggle to pay their operating expenses every year and they’re doing wonderful work helping the homeless, presenting wonderful food or providing books to children,” said Holmes. “These nonprofits struggle every year and the community foundation, in 2010, adopted a strategy to help those organizations build their own endowment at the community foundation.”
On top of their strong community ties, Holmes attributes the foundation’s longevity to a variety of other factors.
“We have very good expense control, so we have always operated within the means of the foundation; we have an administrative endowment that pays our expenses, so we keep our costs low,” said Holmes. “We have a really great staff, very committed to local philanthropy, they’re all tender-hearted, well-organized, smart people. I think that’s the secret - all the smart folk who work there.”
Holmes added that the foundation has board members who represent the community, who are ambassadors and the foundation’s “secret weapon.”
Bryan said she still does and always will support the foundation.
”(Cumberland Community Foundation) will continue to grow and develop and be a resource for the community,” Bryan said.
Aside from regular donations, people can support the foundation throughout their life with regular donations, or even after life.
“Most people think ‘oh, I’m not rich enough to make a difference,’” said Holmes. “Well, if people aren’t sure how much they can give during their life, they can do what our donors do which is put something in their will to go to the Community Foundation to support their favorite cause.”
Please read our comment policy before commenting.