Lehigh Valley Community Foundation Hits $50 Million Milestone
Allentown, Pa., March 23, 2017—The Lehigh Valley Community Foundation recently eclipsed $50,000,000 in assets—a goal for growth that the Foundation Board of Governors had set for 2017. The announcement comes during the Foundation’s 50th anniversary year with the goal achieved well ahead of schedule.
“We are extremely pleased to have hit this important milestone much sooner than anticipated,” said Bernie Story, president and CEO of the Community Foundation. “It is a reflection of the philanthropic spirit that lives in the Lehigh Valley, wise investing for growth, and prudent fiscal stewardship of the Foundation’s funds.”
“The Community Foundation has grown from $50 thousand to $50 million in fifty years,” Story continued. “The real difference isn’t in the monetary size of the Foundation, but the impact we make supporting organizations who improve the lives of those in the Lehigh Valley and beyond. It wouldn’t be possible without the generosity and leadership of hundreds of individuals over the years—we thank them.”
“Since our inception, we have disbursed more than $30 million to more than 600 non-profits to meet the needs of the community, including $3.5 million in grants during Fiscal Year 2016,” Story noted. “We will continue efforts to increase our impact through developing new funds and investing for growth to serve as a permanent source of funding for the Lehigh Valley.”
The Lehigh Valley Community Foundation traces its roots to 1967 when community leaders in Bethlehem established an endowment with the $50,000 that remained after Bethlehem’s celebration of its 225th anniversary of its founding. In 1992, the Bethlehem Area Foundation was renamed the Lehigh Valley Community Foundation to represent the greater region.
About Lehigh Valley Community Foundation
For five decades, the Lehigh Valley Community Foundation has helped donors with their charitable contributions with a simple, powerful, and highly personalized approach. LVCF is a philanthropic hub for the Lehigh Valley—and knows and navigates the landscape of the Lehigh Valley’s community’s needs to connect people who care to causes that matter. It is our mission to improve the quality of life in our region, to encourage collaboration among area philanthropists, and to serve as a source of information and expertise regarding charitable giving. Learn more, visit www.lvcfoundation.org