Grant Request Denied

Sorry folks, but I wanted you to know as soon as I knew.

We heard from the Community Foundation of Greater Fort Wayne today. They have too many grant requests to consider our request for funds to train displaced older Fort Wayne workers in computer job skills so they can return to the work force and support themselves.  Their letters speak for themselves.

CFGFW made money in 2007 ($15,705,923) but lost money in 2008 (-$518,369). Still salaries in 2007 of $612,629 increased in 2008 to $663,480. They had net assets in 2007 of $91,703,430 which dropped to $62,715,549 in 2008. Their executive (David Bennett) was paid $123,195 and their next most highly paid employee (Heidi Ludwig) was paid $62,768. Those are actually fairly modest salaries for top executives. The rest of their employees got $422,865 total, plus 401(k) and benefits. Fees paid for investment management were $258,354. Very honorably none of their Directors are paid. In spite of their losses and drop in value of assets, they still paid out $5,458,776 in grants. I think I admire that. According to their Annual Report they made money again in 2009, bringing their holdings to over $100,000,000.

All the money they paid to their executives and staff makes our tiny request for a mere $75,000 to pay THREE full time staff kind of invisible. But I guess it is a matter of perspective.  You can read a full list of which organizations received grants and how much they received in the form 990 — start at the bottom and page up. You’ll recognize some of the names.

The link to their 2008 Form 990 and other financial information is http://www.guidestar.org/FinDocuments//2008/351/119/2008-351119450-05486833-9.pdf. Their 2009 Form 990 is not posted yet: ours is. Help yourself. http://alt-fw.org/tax-info/2009-np-20.pdf


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