Arlington Tomorrow Foundation’s Endowment Continues to Benefit Community

The Arlington Tomorrow Foundation board continues to display solid, reliable fiscal responsibility and commitment to ensuring the foundation’s endowment is healthy and available for generations to come.

As part of its annual review of the Arlington Tomorrow Foundation’s investment policy and strategies, the board voted Jan. 8, 2019, to reinvest $2.4 million of interest earnings back into the foundation’s corpus to keep up with inflation. This investment fund generates interest that is used by the charitable endowment to award grants annually for programs, projects and services that promote quality of life, create lasting enhancements and address community needs in Arlington.

The board also voted to invest $72,000 in interest earnings into a $3 million reserve fund, which was established in 2014 to allow the foundation to continue awarding grants in times when interest earnings fall short of projections.

The Arlington Tomorrow Foundation, a Texas nonprofit corporation that is separate from the City, was established in May 2007. Over time, the City of Arlington has contributed $100 million in revenue and bonus money from gas well leases on City-owned land into the foundation’s corpus. Over the past 11 years, the foundation has awarded nearly 400 grants totaling nearly $21 million to local charities and City Departments who work each day to make The American Dream City vibrant and strong through educational and recreational opportunities, arts and culture, and social service.

Some of the more significant gifts over the years include $650,000 to build the innovative Boys & Girls Clubs of Arlington after-school center at Peach Elementary, $750,000 to help the Arlington Life Shelter help more people in need, $1 million to support the River Legacy Living Science Center’s new Discovery Room and $1 million toward the Green Oaks School’s planned life prep academy for students with intellectual disabilities.

Last year, the Arlington Tomorrow Foundation contributed nearly $2.3 million through 25 grants, which you can read about in the recently published annual report. Currently the foundation has $3.4 million in interest earnings, separate from the reserve fund, to award grants.

At its Tuesday meeting, the board awarded five grants totaling $65,000 and also made appointments to its five-member Citizens Advisory Committee from the applications received. This committee is responsible for reviewing grant applications from local non-profit organizations and City of Arlington departments to ensure that projects and programs are aligned with the Foundation’s mission and funding priorities. Advisory Committee recommendations are presented to the foundation’s Board of Directors for review and approval.

Advisory Committee members are Paul Johnson, chair; Susie McAlister, vice chair; Joanna Cardoza, Nadia DiStefano and Chris McMurrough.

 

2 thoughts on “Arlington Tomorrow Foundation’s Endowment Continues to Benefit Community”

  1. I clicked on the link to access the “recently published annual report” it will not pull up. Can it be emailed to me?

    Thanks

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