COMMUNITY 2000 EDUCATION FOUNDATION
"QUALITY EDUCATION DOESN'T HAPPEN BY CHANCE"
Letter from the President
Make a Financial Donation
Matching Employer Contributions
United Way Donations
Planned Giving
Letter from the President

 

December, 2016 

Dear Community 2000 Friends,

By year-end, Community 2000 will have funded more than $55,000 in scholarships & career development awards as well as another $39,000 in Educational Project Grants (more than $94,000 in total)!  We will set records for gross and net revenue and a fantastic record of more than $55,000 in profits from the September Golf Tourney.  With a five or six weeks to go, it is looking like a very solid year! 

In the spring of 2015, the Community 2000 Board made a long-term commitment (5-10 years) to grow the Scholarship Endowment from a little over $600,000 to 1.4 million dollars, while continuing at least modest growth of the other three Community 2000 Endowments and our partnership endowments with the Westerly College Club and the Rotary Club of Chariho.  Putting it another way, the Board accepted a challenge to raise $800,000 to make good on the long term scholarship commitment.   If we can manage to add an average of $50,000 a year of net income to the Scholarship Endowments for the next seven years and we get some help from stock market appreciation, we should reach or at least be close to our $1.4 million dollar scholarship goal, allowing the Scholarship Endowment (at a 5% annual withdrawal rate) to support 35 students annually with $2,000 scholarships (i.e., 7-8 freshmen, sophomores, juniors, and seniors, as well as a few 5th and 6th year students in our typical scholarship pipeline).  That will allow our annual contributions to increase the number of awards we make and/or the dollar amount of the various awards. 

 The third column of the Table shows our progress for the year to date (10/31/16) in our first full year of this challenging goal.  The third column shows a net revenue of $26,500 to date or a shortfall of $33,500 overall and a shortfall of $16,000 in our scholarship goal -- again as of mid-November.   So, we still have a chance to make the $50,000 target for scholarships if we can raise an additional $16,000 by year-end for scholarships via this fall mailing.  The shortfalls, while disappointing, reflect significantly less income than expected from grants and from first time donors, areas where intense focus will continue in 2017.

 

 

 

Community 2000 Endowments

 

 

 

Target 2016 Endowment Growth ($) from projected

Net Income *

Actual 2016 Endowment Growth ($)  from  Net Income* as of

10/31/16

Community 2000 Scholarship Endowments

50,000

34,000

Chariho Career-Development Award Endowment

5,000

1,425

Chariho Community Innovative Projects Endowment

5,000

1,075

Chariho Community Strategic Projects Endowment

10,000

-10,000**

Total

$70,000

$26,500

 *  Income after payout of 2016 scholarships, educational project grants, and all operating expenses  -- does not include endowment growth from market appreciation (see backside pie chart that includes this factor). 

 

**Reflects record spending ($26,428) in 2016 on Strategic Projects.  

As always, we love to hear your comments or questions (jchrisphilips@aol.com). Wishing you all a very happy holiday season.

Christopher Philips

President
Community 2000 Education Foundation