Community Foundation awards $1.5 million in grants
Dozens of local nonprofit organizations and other groups received a combined $1.5 million in grants Thursday afternoon during the Community Foundation of West Kentucky’s Philanthropy 360 event.
Executive Director Tony Watkins said the money is vital for these organizations.
"We were able to pass out numerous grant disbursements to worthy organizations from endowed funds that have been set up with the community foundation over the past 20 years, and take the earnings off that, and give it back to these organizations that actually do the good work in our community," Watkins said.
Watkins added that many non-profits focus on daily operational costs instead of planning long term with an endowment.
"The purpose (is) you have to focus on cash today, but you’ve also got to think about tomorrow. And that endowment money is money for tomorrow," Watkins said.
One surprise during Thursday’s event was for the Oscar Cross Boys & Girls Club of Paducah. The William R. And Virginia G. Black Endowment Fund of the Community Foundation of West Kentucky granted the Oscar Cross Boys & Girls Club $50,000 towards its endowment. The Oscar Cross Boys & Girls Club provides education and recreation for kids and teens after school in a safe environment.