The Alaska Community Foundation has announced four new Affiliate community foundations – Kodiak Community Foundation, Ketchikan Community Foundation, Greater Sitka Legacy Fund and Golden Heart Community Foundation (Fairbanks and surrounding areas). With support from the Rasmuson Foundation, the newly formed Affiliates will provide leadership for the formation of a permanent community endowment that will support local philanthropic goals now and years into the future.
These four new Affiliates are the second group of communities to participate in the Community Asset Building Initiative (CABI). In partnership with the Rasmuson Foundation, The Alaska Community Foundation launched the CABI program in 2008 in an effort to support community based philanthropy through geographic community funds. Current ACF Affiliates include the Seward Community Foundation, Jessica Stevens Community Foundation (Talkeetna), Kenai Peninsula Foundation, Chilkat Valley Community Foundation (Haines) and Petersburg Community Foundation.
“The Community Asset Building Initiative is one of the most exciting programs that we support at ACF, and we are thrilled to have these four new Affiliates. We are impressed with the leadership and vision the Affiliates have for their communities and look forward to working with them to grow local philanthropy and strengthen their communities,” said ACF President and CEO, Candace Winkler.
In order to help the new Affiliates build a substantial initial endowment, the Rasmuson Foundation is offering the Affiliates an opportunity to receive $50,000 if they raise $25,000 locally in the first year. This match will support the efforts of the new Affiliates to foster local philanthropy. Affiliate funds enable charitable dollars raised to go toward philanthropic activities in that community rather than to administrative and operating expenses.
Because they are set up as Affiliate funds of ACF and not separate nonprofits, the participating communities benefit from ACF’s philanthropic expertise, financial management, investment oversight, IRS and National Standards compliance, and legal knowledge. This gives the leaders of each Affiliate fund more time, energy and resources to assess local needs and grow the community’s capacity to address those needs.
Each Affiliate fund is led by a local Advisory Board. These leaders understand the needs of their community and will work hard to identify local priorities and create plans to develop the resources for long-term support. The Alaska Community Foundation will work closely with the local Advisory Boards, providing training, technical assistance, and professional support to help develop a permanent community endowment. By growing each Affiliate’s capacity to address needs at the local level, the ACF Affiliates are empowered to solve local problems with local giving, now and forever.