CFA Reaches $100 Million in Assets

CFA Celebrates $100 Million Milestone, Announces More Than $1 Million in Grant Awards

At Founders’ Day this year, CFA celebrated a major milestone with donors and community leaders: reaching more than $100 million in assets. The Foundation also announced more than $1 million in new community and economic development grants.

Unaudited results for the Foundation’s Fiscal Year 2021 (ended June 30, 2021) show a total asset figure of $101,635,551—87 percent of which are endowed funds. The achievement comes the same year the Foundation was recognized with the highest possible rank for transparency, a Platinum Seal, through GuideStar by Candid, a nationally recognized source of information about more than 1.8 million U.S. charities and nonprofit organizations.

“Reaching $100 million is a milestone for our entire community, but we thought it was important to follow it up with a representation of what that figure means,” CFA President Mike Kane said. “Because our donors and our community have supported the Foundation in meaningful and ongoing ways over the past 31 years, we will be able to continue making grant awards and making a difference in our community forever. The community and economic development grants we are announcing today, more than $1 million for our region, are the kind of investments that result from an established, growing community foundation. That happens only because people have stepped up to care for our community—for this place we all call home—and for future generations.”

A total of 22 organizations received grant awards, including funding for continued trail development in Cambria and Somerset counties; projects to support young people in Johnstown and preschoolers in Somerset County; recreation opportunities in Ebensburg; support for arts and commerce marketing; and an additional $250,000 to continue an aggressive push to clear blight and improve properties formerly marred by blight. CLICK HERE for a full list of those grantees, grant awards, and projects.

In Fiscal Year 2021, CFA awarded more than $8.4 million in direct grants, for a total of $15,227,750 awarded in grants and charitable distributions. For a full list of grantees and grant awards for the past Fiscal Year, CLICK HERE.