Community Foundation of the New River Valley Receives Boost from National Bank of Blacksburg

Strategic Insights -

The Community Foundation of the New River Valley has been awarded $5,000 by the National Bank of Blacksburg, a significant contribution towards the foundation's mission to promote self-sufficiency and community building. The foundation, established in 1995, manages a collection of endowed funds valued at nearly $250,000, and has distributed 14 $500 grants in the last two years to organizations in Radford and surrounding counties. As the foundation grows, it plans to increase and expand its grants to support community-based projects and activities.

Key Takeaways:

  • The National Bank of Blacksburg contributed $5,000 to the Community Foundation of the New River Valley.
  • The foundation, established in 1995, manages a collection of endowed funds valued at nearly $250,000.
  • The foundation has distributed 14 $500 grants in the last two years to organizations in Radford and surrounding counties.
  • About 50 organizations have applied for foundation grants during the last two years.
  • Fourteen grants are expected to be awarded next year, with each grant valued at $500.
  • Foundation grants are available to organizations in Radford and Floyd, Giles, Montgomery, and Pulaski counties.
  • Community foundations are the fastest form of philanthropy in the United States, with about 115 such foundations operating in the Southeast.
  • James G. Rakes, president of the National Bank of Blacksburg, stated that the foundation will promote self-sufficiency and community building that the bank stands for and believes in.
  • Andy Morikawa, executive director of the foundation, said that the permanent asset base managed by the foundation adds to the resource base that works to make the community a better place.
  • Marilyn Buhyoff, foundation board member and NBB's senior vice president, stated that each year, as the foundation grows, they will make more and larger grants to support community-based projects.

Statistics:

  • $5,000: The amount contributed by the National Bank of Blacksburg to the Community Foundation of the New River Valley.
  • 14: The number of $500 grants distributed by the foundation in the last two years.
  • 50: The number of organizations that have applied for foundation grants during the last two years.
  • $250,000: The value of the collection of endowed funds managed by the foundation.
  • 115: The number of community foundations operating in the Southeast.
  • 1995: The year the Community Foundation of the New River Valley was established.

Sources:

  • The Roanoke Times
  • Community Foundation of the New River Valley
  • National Bank of Blacksburg
  • Interview with Christopher Calnan, The Roanoke Times