2008 Annual Report - Greater Worcester Community Foundation

Year in Review
Managing Foundation Assets
endowment portfolio, increasing income-producing stocks
and bonds while reducing equity holdings to less than 40%.
full-time positions, adjusting to loss of operating revenue
due to decline in assets.
Planned Giving
to support programs in the town of Webster.
Society member Helen Stinson, transferred to the Helen M.
and Thomas B. Stinson Fund, which supports the
Worcester Art Museum and All Saints Episcopal Church.
Services to Donors
Christine Louis, to support donors with the desire to make
major gifts as well as donor advised giving.
first-hand look at the impact of grants on enhancing local
parks and community gardens.
Nonprofit Support Center
nonprofit leaders explored strategies to cope with the
challenges of a turbulent, rapidly changing environment.
Grantmaking
total of $125,000 to eight projects that will foster a safe and
open community for gay, lesbian, bisexual and transgender
residents of Central Massachusetts.
Operating Support grant of $250,000 over five years to
Retirement Community (NORC) project, to develop
resources that enable elderly residents to “age in place.”
$410,000 to expand nursing faculty in the region’s degree
programs for nurses.
fund, totaling $658,000, when the organization gained
nonprofit status for its operation, which attracts and
retains city commercial and industrial enterprises and jobs.
increase of 25% over 2007 grants to this sector; and
in 2008 such grants from donor advised funds more than
doubled, awarding $191,000 to the Hanover Theatre, Old
Sturbridge Village, the Italian American Cultural Center
and the American Textile Museum in Lowell.
the Auburn Foundation celebrated five years of
grantmaking; and the Water and Land Stewardship Fund
marked its tenth year.
Greater Worcester Community Foundation 08 ANNUAL REPORT 3