Fund for Greensboro Annual Report 2022

Thank you for another banner Fund for Greensboro year, with $127,146 in gifts bringing our total fund balance to $539,479.  The Lake fund has grown to $226K, Unrestricted to $161K, and the Endowment to $150K.  Further detail is available in the Treasurer’s report.  This is spectacular growth, from $300K two years ago, to $456K last year, to this year $539K, despite a down market year.

For the first time, we voted to allocate $25K in grants, up from $15K over the last few years.

This represents a diverse and meaningful contribution to our community, as outlined in our Grants report.

We have 10 new 1781 Society members, totaling 45 members in 25 households.

We celebrated Fund for Greensboro progress and 1781 Society members at a gathering at the home of Tod and Gwen Mann on July 30.

I am grateful to each and every member for your support.

The Greensboro Association and Fund for Greensboro

The Greensboro Association was formed in 1934 to protect our lake environment and support and enhance our community.  The GA has a long history of supporting 4th of July festivities, public beach maintenance, the swim program, Greensboro Free Library and more.  Annual grants from membership dues and gifts have been made for most or all of our history.  The Fund for Greensboro was created to steward this legacy for generations to come.

What is the Fund for Greensboro?

About 20 years ahead of the Fund for Greensboro, the Caspian Lake Fund was started to combat a serious potential environmental threat, when Eurasian Milfoil invaded many Vermont lakes.

In 2015, the Fund for Greensboro was launched to provide a tangible lasting means to give back to our community and lake environment.  It started with the existing Lake Fund of $65K and a new Community Endowment Fund, the income from which would augment the growing annual grants program.  The Unrestricted Fund was soon added when a number of members wanted their full gift to be readily available for grants and unforeseen needs, not limited to the income from it, as the Endowment would eventually provide.

In 2019 the Emergency Relief Fund was created to support pandemic-related needs of our front line organizations.  $65K was raised over two years and returned to the community in grants to local human service organizations.

How much has been raised and how much given out?

Over $300,000 in grants have been made over the 88 year life of the GA; about half of this provided in the last 8 years since the FFG was founded, including $65K for pandemic Relief.

The Lake Reserve, Endowment and Unrestricted funds now together exceed $500K.  But the needs in our region are great: lake protection and environmental stewardship, human services for our youth and aging population; educational, cultural, and recreational amenities all benefit from our additional support, which we hope can grow.

What is the 1781 Society?

The 1781 Society was formed in 2018 to recognize and honor the first estate provisions for the Fund for Greensboro. Forty-five 1781 Society members to date, in 25 households have either notified us of an IRA designation or will provision of $10,000 or more, or made lifetime gifts of that amount.

Goals – Fund for Greensboro and 1781 Society

In 2-4 years, we hope to double the Fund for Greensboro balance to $1M and our 1781 Society membership to 100.

In 5-10 years we hope to double our fund balance again to $2M, and commence granting an annual 6 figure contribution to our community, to address new and existing needs and initiatives, to support and enhance this community and protect our lake environment.

Where is the money now going?

This year $25,000 has been approved for 20 grantees:

Greensboro Bend Revitalization Initiative

Greensboro Community Gardens – on town hall green

Greensboro Fire Department

Greensboro Free Library

Greensboro Historical Society

Greensboro Nursing Home

Greensboro Public Beach committee

Greensboro Swim Program

Greensboro Ski Trails

Greensboro Cemetery Commission

Caspian Sailing race buoys

Hardwick Food Pantry

Hardwick Rescue Squad

Rural Arts Collaborative – formerly Wonder Arts, GRACE & SPARK

AWARE – domestic abuse services

Four Seasons of Early Learning child care center, Greensboro

Saplings child care center, Craftsbury

Craftsbury Community Care Center

Modern Times Theatre Halloween Celebration

Vermont Learning Collaborative – supporting neuro-diverse youth in our area

Additionally,

Vermont LakeWise Program for lakeshore protection – $12K was allocated in 2021 for the first two years of the program at Caspian.

Please join the 1781 Society

In an effort to provide lasting return for Caspian Lake and the Greensboro Community, the Greensboro Association 1781 Society was formed to recognize those who have made a current gift, or lifetime gifts, or a planned gift of a will or IRA provision of $10,000 or more, in support of the Fund for Greensboro.  1781 Society members have collectively made gifts and commitments of over $500,000 in future support of the lake and community.  All gifts and commitments, large and small, support the whole.

We have two new 1781 Society members since our last report, bringing our ranks to 37!  Thank you and Welcome!

Our sincere thanks to all who have supported the Relief Fund, and Funds for Greensboro.

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The Fund for Greensboro (FFG)
The Fund for Greensboro
c/o The Greensboro Association
P.O. Box 59
Greensboro, VT  05841

The Fund for Greensboro (FFG) supports social, cultural, environmental, educational, human service, and recreational initiatives in and around Greensboro, VT. The FFG operates under the auspices of the Greensboro Association, a registered non-profit 501(c)(3) organization.  The FFG is supported by tax-deductible gifts from individuals who wish to support and strengthen the Greensboro community now and in perpetuity.

Mission: To establish reserve funds and an endowment to support initiatives and organizations that enrich, strengthen, and preserve the vitality of the community of Greensboro, Caspian Lake, and its surrounding watershed.

Structure: The FFG is comprised of three distinct funds: 1) the Community Endowment Fund; 2) the Lake Reserve Fund, and 3) the Unrestricted Fund.

  • The Community Endowment Fund is used to supplement the Greensboro Association’s annual Grants Program.  Grant applications are reviewed by the Grants Committee, recommendations made, and distributions approved by the Greensboro Association Board.   These funds are invested for long-term growth; a variable percentage of this Fund is used annually, preserving the principle.
  • The Lake Reserve Fund supports initiatives, activities, and resources that protect the environmental health of Caspian Lake and its watershed.  These funds are invested for growth and liquidity and are distributed with guidance from the Lake Committee and approval of the Greensboro Association Board.
  • The Unrestricted Fund is invested for growth and liquidity, to be used for grants and initiatives at the discretion of the Greensboro Association Board.

Types of Donations

The Fund for Greensboro gratefully accepts gifts of cash, marketable securities, bequests, and IRA and insurance designations.  Donations to any of the three FFG funds may also be made as deferred gifts (e.g. within an estate plan or IRA designation).

1781 Society

The Greensboro Association 1781 Society honors lifetime gifts and estate provisions of $10,000 or more.

To Make a Donation

CASH & CHECK Please make checks payable to the Greensboro Association, Fund For Greensboro, designating Community Endowment, Lake Reserve, or Unrestricted.

Stocks and marketable securities transfer instructions:

DTC transfer to NFS, LLC, DTC#0226

For further credit to:

Greensboro Association FFG Community Endowment Fund #C9B-024450

Greensboro Association FFG Lake Reserve Fund #C9B-024446

Greensboro Association FFG Unrestricted Fund #C9B-026109

Fed Fund wire transfer instructions to NFS, LLC:

1 Chase Manhattan Plaza, New York NY. 10041

ABA: 021000021 Account # 066196-221

For further credit to:

Greensboro Association FFG Community Endowment Fund #C9B-024450

Greensboro Association FFG Lake Reserve Fund #C9B-024446

Greensboro Association FFG Unrestricted Fund #C9B-026109

Contact us:

For more information regarding the Fund for Greensboro, different ways of giving, grants, or special inquiries, please visit our website at: www.GreensboroAssociation.org/FFG

or email us at: [email protected]

1781 Society

The FFG 1781 Society recognizes lifetime gifts or legacy bequests of $10,000 or more.

Questions?

Please contact Becky Arnold or any committee member with questions about donations or bequests to the FFG.

FFG Committee:  Becky Arnold, Vince Cubbage, Tim Nisbet, Naomi Ranz-Schneider, John Stone III, Mary White

Gift Forms and Instructions

Please download the gift instructions and commitment form here:

FFG 1781 Society and Legacy Gift Instructions

FFG Statement of Estate Commitment

Please contact Becky Arnold with any questions relating to the Fund for Greensboro and opportunities to donate.