The Power of the Foundation Occurs Over Time
Forty years ago good people in Wayne County formed our community foundation. They were the guardians of our future. Thanks to their efforts, we now have over $40 million dollars in assets to support our community today.
Our past guardians were wise and good and generous… and we are grateful to them. It is now up to us to make sure the next generation will be as fortunate.
Forty years is a long time but it’s really just the beginning for the Wayne County Foundation. Our work began decades ago but the cumulative impact will be felt for years to come. Gifts given to the Foundation provide a meaningful base for sustained progress – a base from which many local nonprofit organizations and students will see steady streams of support over time. That’s the power of careful investment and strategic giving.
How Endowments Work
The Ruth Hamilton Robbins Memorial Scholarship was the first scholarship established at the Foundation in 1979. Created by her husband, Wilbur J. Robbins, the scholarship provides an award to a Richmond High School graduating senior who plans to study business or nursing and is a lineal descendant of a US veteran.
Here’s the amazing part! Mr. Robbins’ initial gift was $10,380. Over the decades, nearly 40 scholarships have been awarded totaling just under $32,000, and yet the fund still has a value of over $20,000.
Another scholarship – The Mary E. Hill Memorial Fund – was established when the assets of the Mary E. Hill Charities were transferred to the Foundation to assure the fund’s permanence and to lower administrative fees. Initially, the fund had assets of $109,416. Over the years since, the scholarship has helped 148 students who have pursued a career in the medical field, many whom are minorities, and, although it has awarded a total of over $225,800 in scholarships, the fund still has assets of more than $141,500.
That’s the power of the endowed funds and the power of permanence the Foundation can offer its donors today, tomorrow, and forever.