Major Gift & Strong Investment Returns Push Community Foundation Past $60 Million

A $2.5 million gift from a private foundation conversion and continued strong investment performance has helped push the total assets of the Community Foundation of St. Clair County past the $60 million mark.  The multi-million gift came from the conversion of a private foundation that provided grants in and around the City of St. Clair, Michigan.  Franklin Moore, one of the trustees of the private foundation, said, “We felt it was time to close our private foundation and turn over the assets to our community foundation.  Their strong track record of investment performance and community impact will allow these assets to continue improving life in our community for generations to come.”  Donna Niester, Board Chair of the Community Foundation, said, “We’re honored every time a donor chooses to trust the community foundation with such a significant gift.  This gift, along with hundreds of other gifts both large and small will total almost $5 million this year.”  Ms. Niester added that in 2015 the community foundation received gifts of more than $5.9 million.  The Community Foundation’s assets have also been bolstered by investment returns (con't)
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