Waccamaw Community Foundation assets grow by 19 percent

Waccamaw Community Foundation awarded $2.6 million in grants in 2015, an increase of 24 percent over 2014 and the nonprofit philanthropic organization’s total assets increased by 19 percent during the year to $24.9 million. The giving and asset numbers made 2015 WCF’s strongest year on record.

Waccamaw is one of over 700 community foundations in the United States. These foundations, holding $60 billion in charitable assets, are “the fastest growing form of philanthropy in our country,” according to Waccamaw’s relatively new director of development Karen Minogue. She and her husband already had a home in Murrells Inlet when she accepted the new job in October 2015. She spent more than 16 years working for community foundations in New York, the last 10 as president and chief executive officer of the Community Foundation of Orange and Sullivan Counties. Previously, she was vice president of the Community Foundation of Duchess County, “where I found my calling.”

Also in 2015, WCF affiliated with Coastal Community Foundation in Charleston. Coastal is an umbrella organization covering nine S.C. counties. Affiliates include the Frances P. Bunnelle Foundation of Pawleys Island.

More than half (55 percent) of the 2015 grants were to nonprofits of Horry and/or Georgetown counties. The 496 grants made in 2015 were from the foundation donors’ 123 different funds. In an announcement about WCF’s annual report, the foundation says “the largest share of grants, 29 percent, were awarded to nonprofits addressing human needs.”

Human needs grants totaled $757,459; education $568,687; religion $436,760 and community services $394,387. Other categories were arts $56,519; environment $107,922; health $207,101 and philanthropy $89,269.

On Tuesday, Waccamaw announced first quarter 2016 grants totaling $19,500 to seven area nonprofits. Freedom Readers, an after-school literacy-tutoring program, and the Salvation Army Boys & Girls Club of Conway/Horry County were awarded $5,000 grants. Barnabas Horse Foundation, which provides equine-assisted therapy, Caring and Sharing of Hemingway and Team First Book (First Book of Horry County) received $2,500 grants.

Beautiful Places Alliance and Winyah Rivers Foundation received $1,000 grants. The Winyah grant is in support of a strategic plan and the Beautiful Places grant in support of a boardwalk at Huntington Beach State Park.

Waccamaw makes competitive grants quarterly. April 8 is the application deadline for the second quarter grants. Waccamaw started in 1999. Its mission is to connect “donors with causes they care about.”

Minogue says it’s “an ongoing process to raise awareness” of thousands of potential donors as well as current donors. She says many attorneys are encouraging clients asking about private trusts to look into WCF. A new federal law, signed by President Obama in December, allows persons 70 and a half and older to make tax-free charitable contributions directly from IRAs.

WCF board and staff members anticipate another strong year in 2016. “I can empower and inspire more individuals and organizations to achieve their charitable dreams,” Minogue says.

This story was originally published March 2, 2016 at 8:22 AM with the headline "Waccamaw Community Foundation assets grow by 19 percent."