Foundations
Philanthropy Journal of North Carolina
New ways to give
Arts grants awarded
The National Endowment for the
JML
Humanities announced 105 grants of
$14.5 million to U.S. arts groups and
individuals for the third quarter of this
year.
NOVEMBERR 1996
Community foundations team up with Merrill Lynch
Four North Carolina community
foundations have joined with
Merrill Lynch & Co. in an
alliance to increase charitable
giving.
By Barbara Solow
In response to rising donor inter
est in new giving vehicles, Merrill
Lynch & Co. has formed an alliance
with 34 community foundations -
including four in North Carolina.
The new partnership is aimed at
INVESTING
increasing charitable donations hy
encouraging wealthy clients to make
gifts to community foundations.
The Foundation for the Carolinas
in' Charlotte, the Community
Foundation of Greater Greensboro,
the Community Foundation of
Henderson County in Hendersonville
and the Triangle Community
Foundation in Research Triangle
Park are participating in the new
aliiance.
Giving to community foundations
offers numerous advantages to
donors, including a lower tax burden,
says W. Christopher Sin^eton, direc
tor of Merrill Lynch’s nonprofit finan
cial services division.
For example, while a gift of appre
ciated property or stock to a private
foundation can result in a 20 percent
reduction in a donor’s adjusted gross
income, a similar gift to a community
foundation can result in a reduction
of 30 percent.
“A private foundation is expensive
to operate and create, whereas the
establishment of a community foun
dation does not involve costs” to the
donor, Singleton says, “Another great
benefit that community foundations
provide to our clients is real knowl
edge of local needs.”
Studies by the Foundation Center
show that community foundations
are the fastest-growing segment of
organized philanthropy. Community
foundations are defined as publiciy-
supported charities that administer
funds contributed by individuals,
other foundations, businesses and
community organizations.
The newest edition of “North
Carolina Giving” shows that since
1991, the assets of Tar Heel commu
nity foundations have risen by 41 per
cent - from $194 million to $275 mil
lion.
Nationally, more than 400 commu
nity foundations hold more than $10
billion in assets and make annual
Look for MERRILL LYNCH, page 7
Giving back
Parents
fund lab in
son’s memory
An after-school computer lab for
students at Brou^ton High School in
Raleigh has been estabUshed hy the
parents of the late Wade Edwards, a
Brou^ton junior who was killed in a
highway accident
April 4.
The Wade
Edwards Learning
Lab, which opens
this week at 714 St.
Mary’s St., also win
be open during the
school day for stu
dents assigned by
their teachers, ^, ,
and for teachers Wade Edwards
and for parent
training. It has 22 computers, all
sponsored by individuals or busi
nesses.
The iab is an initiative of the
Wade Edwards Foundation, which
was created by Wade’s parents,
Raleigh lawyers John Edwards and
Elizabeth Mania, to inspire, moti
vate and reward young people.
Anania says she hopes the lab for
Broughton students will serve as a
model for similar labs at other high
schools
Other foundation initiatives
include an annual statewide short
story award for high school students,
including $5,000 for the first-place
winner, $2,000 for second place,
$1,000 for third place and $2,000 to
the winner’s En^sh department; a
$5,000 college scholarship to the
national winner of the National
Conversation Essay Contest; and
construction of an outdoor common
area at Broughton. Wade Edwards
was one of 10 winners this year of the
national essay contest.
For information, call (919) 856-
9355.
Facing the future
Merger could boost charity
A proposed merger between
Moses Cone Health System and
Wesley Long Community
Hospital in Greensboro is
expected to resuit in the cre
ation of a new foundation aimed
at improving health care in the
Triad.
By Barbara Solow
Greensboro
The proposed merger of two non
profit hospitals could lead to the cre
ation of a $50 million foundation ded
icated to improving health-care ser
vices.
The Wesley Long Community
Health Foundation - to be formed as
part of a planned merger between
Moses Cone Health System and
Wesley Long Community Hospital -
would make annual grants of about
$2.5 million to health initiatives in the
Triad.
The new foundation “will be a
unique additional resource for our
community,” Stephen Hassenfelt,
board chairman of Wesley Long, said
Look for HOSPITALS, page 7
A merger of Wesley Long and Moses Cone hospitals may lead to a
new charity. Neonatologist James Pascale tends to a patient at
Wesley Long.
New at the top
Banker heads
Joseph Bryan
Foundation
Jim Melvin, whose career as a
Greensboro banker dates back
almost four decades, has been
chosen to head a new founda
tion established by the late phi
lanthropist Joseph M. Bryan.
By Barbara Solow
Greensboro
Jim Melvin, a former Greensboro
mayor and long-time banking execu
tive, has been named the first presi
dent and chief executive of the
Joseph M. Bryan Foundation for
Enrichment of Greater Greensboro.
In one of its first acts of philan
thropy, the foundation in October
purchased a 530-acre tract of land for
$1.6 million that it will donate to
Guilford County and the city of
Greensboro for recreation and green
space.
Look tor MELVIN, page 7
Wake Education partnership in transition
The Wake Education Partnership
aims to improve schools in the
county.
The Wake Education Partnership
has adopted a two-year strategy to
become a leading voice for public
education m Wake County. And Millie
Herget, president of the fundraising
and grantmaking organization, has
resigned to return to the business
sector.
The new strategy comes in the
face of long-standing concerns
among the partnership’s member
organizations about their voice and
role in the partnership. The strategy
calls for the partnership to create
broad citizen awareness for pubhc
education; to foster exchanges
among schools, the community.
teachers and parents for ongoing
involvement in the schools; and to
raise and distribute funds to support
Wake students in kindergarten
through 12th grade.
The partnership will continue to
raise money from corporations, foun
dations and individuaJs - Including
an annual campaign that this year
raised more than $365,000 - but will
expand its funding beyond its ei^t
members to include other organiza
tions involved in public education.
'The partnership distributes more
than $1 million a year.
Grants will he made in a number
of priority areas that still are to be
defined but that probably will
include programs for at-risk stu
dents; technology; staff development;
and community collaboration.
“We want the opportunity to get
our funds closer to the children,”
says Herget, the partnership’s outgo
ing president. The partnership will
encourage organizations seeking
funds to find ways to collaborate
with other organizations, she says.
'The partnership is seeking an
executive director to succeed Herget.
For information, call the partner
ship at (919) 821-7609.
BRIEFLY
Billionaire creates
George Soros, a Hungarian-
born financier, has created a
$50 million fund to help
immigrants gain U.S. citizen
ship. Support will include
expenses for English classes,
citizen education and the
$95 naturalization fee new
citizens must pay. Funds will
fund for immigrants
support nonprofits serving
legal immigrants.
Contact:
Emma Lazarus Fund
Antonio Maciel
888 Seventh Avenue
9th Floor
New York, NY, 10106
(212) 887-0167.
United Arts offers
project grants
The United Arts Council of
Raleigh and Wake County is
awarding grants of up to
$1,500 to artists in Wake,
Warren, Vance, Johnston and
Franklin counties through its
Regional Artist Project Grants
Program. Three October
workshops were held to help
artists prepare applications.
New directory lists
award winners
The Burroughs Wellcome
Fund has published its first-
ever directory of recipients of
the fund's competitive scien
tific awards. The directory lists
150 award winners, with
addresses and telephone
numbers. Call (919) 991-
5100 or visit the fund's
Internet home page at
http://www.bwfund.
org/bwfund/
New Era founder
indicted for fraud
The federal government has
filed an indictment against
John G. Bennett Jr., founder
of the Foundation for New
Era Philanthropy, accusing
him of scheming to defraud
nonprofits of at least $115
million. The Pennsylvania-
based foundation filed for
bankruptcy last year.
Charlotte play aims
to combat violence
This month, the Children's
Theater of Charlotte is host
ing a performance of
"Nobody's Listening," a play
that is part of a cooperative
effort between city schools
and the theater. It is funded
by a grant from the Cannon
Foundation. For information,
call (704) 376-5745.