The Dayton Foundation announced today that it has achieved a record milestone in its 96-year history – $505.4 million in current assets as of close on December 31, 2016. This ranks the Foundation among the top 5 percent of all U.S. community foundations in total assets under management.
According to Craig J. Brown, chair of The Dayton Foundation Governing Board, “This is a great accomplishment in The Dayton Foundation’s history. It is a testament to the extraordinary generosity of this community and the Foundation’s Governing Board and staff, who take very seriously their responsibility to be good stewards of these critical community assets and help grow them for the future.”
Gifts from new donors, as well as from existing donors, played a major role in getting the Foundation to where it is today, according to Foundation President Michael M. Parks. During the 2016 calendar year, The Dayton Foundation added 226 new funds, including 107 current and deferred endowed and non-endowed funds, and 119 new funds to the Foundation’s Charitable Checking Account ServiceSM, a free, donor-advised fund.
“This growth in assets means that we will have greater resources to better meet our community’s present and future needs and to support new opportunities for our region,” Parks said. “The exceptional growth of The Dayton Foundation would not be possible without our donors, who care passionately about their community and believe in the Foundation’s ability to help them make the greatest difference.”
The Dayton Foundation has witnessed significant growth over the last 30 years, with assets under management rising from $8.9 million in 1985 to $505 million at the close of calendar 2016. Additionally, legacy (deferred) gifts currently stand at $234 million. Grants awarded in 2016 exceeded $42.6 million, for a total of nearly $400 million awarded in the last decade alone.
Parks remarked, “This is an incredible milestone for us, our donors and the entire Greater Dayton region. Since our founding in 1921, our donors have helped to fund thousands of nonprofit organizations locally and across the country with nearly $850 million in grants. These grants and the impressive growth of the Foundation assets are indicative of the generosity in our region and the commitment individuals have for helping others through charity.”