COLUMBIA — The Community Foundation of Central Missouri exceeded $2 million in assets this month.
The foundation was established in 2010 to manage nonprofit funds for individuals and groups across central Missouri.
The $2 million in assets were surpassed by putting nonprofits' funds in investments such as stocks, bonds and real estate, John Baker, executive director for the foundation, said.
The funds invested through the foundation are similar to saving accounts. Instead of granting all of the money to a cause at once, donors can invest and see their funds' money grow, he said. Then those donors can use funds' earnings meaningfully for a cause they wish to support.
This year, the 38 funds involved with the foundation donated 40 grants totaling $11,955 to human interest causes such as education scholarships, health care, food bank services, senior care and youth programs and services, he said.
Individuals, nonprofit agencies and companies that would like to support their community can become donors and create funds through the foundation, Baker said.
According to Baker, the largest funds the foundation administers are the Boonville Community Foundation's Legacy and Katy Bridge Redevelopment Project funds, which each have $250,000 in assets.
The foundation's largest fund in Columbia provides grants for environmental research for the well-being of the community, Baker said.
If the investments continue to grow, Baker said he hopes the foundation can continue to give money in the long run.
"Theoretically, if you’re not giving more than the earnings, the money can last forever — and you can give forever," he said.
Supervising editor is Zach Murdock.