The Northwest Arkansas Community Foundation is a publicly supported organization dedicated to improving the quality of life in the Northwest Arkansas communities through an active partnership with donors who believe that permanent change can occur through effective charitable giving.
NWACF was founded in 1998 as the Community Foundation of Bentonville/Bella Vista. In November, its purpose was expanded to include all of Northwest Arkansas, and to serve as the lead public foundation operated in conjunction with CommunityCare, Inc.
The term "community foundation" reflects a dual role. A community foundation represents a broad spectrum of charitable intent reflecting the interests of potentially hundreds of donors. These comprise the community or people who care and are willing to invest their money in improving Northwest Arkansas. The organization serves as a "foundation" of support to connect these interests to community needs by offering administrative support, leadership and financial strength.
Gene Groseclos, Chair of the Board of Directors for NWACF, explained the difference between a community foundation and other nonprofit organizations.
"Community foundations do not duplicate the work of United Way and other charities. Community foundations represent the community savings account that can provide unusual, one-time or venture capital for the entire nonprofit community. The permanent funds managed by our community foundation will be useful today and for generations to come."
NWACF unveiled their new logo, phrase, and a charitable program for future donors and grant recipients earlier this summer.
"The new logo is a brilliant gold half-circle, which some may see as a sun or a widening presence on the horizon. This symbol reflects the foundationŐs growing presence on the Northwest Arkansas scene. Our goal is to help our local communities reach their full potential," explained Groseclos.
The phrase, "Toward a New Regionalism", when combined with the logo, shows how each community in Northwest Arkansas, can be compared to a regional family.
"Our goal is to identify the familial needs of our regional and nurture the aspirations of each family member or community. NWACF recognizes that people will still want to support local projects dear to their hearts. At the same time, a community foundation is perhaps the only public non-profit which can help direct potential donors to support issues or needs of a regional nature," stressed Groseclos.
Groseclos also introduced a new foundation charitable endowment program, the Horizon Fund, whose motto is "Expanding the Future of Northwest Arkansas."
"What makes this program so exciting is that it gives everyone the chance to be a philanthropist, not merely the wealthy," said Groseclos.
Non-profits will also benefit from the creation of the Horizon Fund.
"Non-profits, particularly small to mid-sized organizations, do not have the time, money, or manpower to actively seek out endowments or court major donors. NWACF hopes to work with all the regional organizations to identify potential donors who would be interested in setting up a designated (restricted) Horizon Fund. This fund would be very helpful to those who wish to 'endow' their annual giving to a particular cause or organization," said Groseclos.
Currently, community foundations are the fastest growing arm of philanthropy in this country, numbering over 350 and assets worth over 21.7 billion in 1997. One of the reasons for this growth is that a community foundation offers easy ways to help a donor make a significant difference in their charitable giving.
Donors also receive the significant tax advantages of a public charity combined with personal recognition, involvement, and flexibility when compared to the establishment of a private foundation. They also gain access to the highest level of strategic thinking on the best ways to meet community challenges.
NWACF currently has assets over 1 million with eight funds since its formal incorporation as a publicly-recognized charity in January, 2000. Through grants approved by NWACF board from recommendations made by two donor-advised funds, the foundation has approved a total of nine grants totaling $529,000. The 3 grants made from the fund established by the Bates Charitable Trust totaled $480,000 while the fund established by the Northwest Medical Center of Washington County Auxiliary recommended six grants totaling $49,000.
