Posts Tagged ‘Roxbury Trust Fund’
Roxbury $2.5 mil venture granting Trust Fund with $786k left to spend renews goal to give after your input is received.
THE ROXBURY TRUST FUND COMMITTEE
PO Box 191925, Roxbury, Massachusetts 02119
Dear Roxbury Residents and Community Organizations,
This is to inform you that the next round for funding from the Roxbury Trust has been suspended to allow the Trust to vet its strategic plan with the community and other key stakeholders.
We know the timing of this announcement could not come at a more difficult time, given the economic challenges we face in our community and the shrinking philanthropy our agencies, organizations and institutions are facing … but we certainly think it is important that we take the time to be strategic in our mission and grant-making, now, more so than ever before.
While the Fund began with an initial endowment of over $2.5 million, it was designed to last for only 7 years. Now, in year 6, the Trustees have been asked to reconsider the Trust’s future. The question is: Could the Roxbury Trust continue to be the recipient of funds dedicated to the development of our neighborhood? Should the Roxbury Trust transition into a community-based foundation? If so, what would be the challenges? The benefits are obvious; we have the opportunity to continue support for youth development, family services, community economic development, and civic engagement for the residents of Roxbury instead of simply spending down the endowment and ending our highly successful grants program permanently in 2012.
Over the coming months we intend to implement the following steps to bring these ideas to the broader community:
- Engagement with the Roxbury Master Plan Oversight Committee for further dialogue and discussion on the need for an ongoing funding entity and strategies for moving forward;
- Secure input and endorsements from elected officials, at both the city and state levels, so we can move forward with a revitalized board of Trustees that reflect Roxbury today;
- Initiate a new Capital Campaign that will secure funding through linkage with large-scale development projects, individual donations, foundation and corporate support;
- Ensure that allocation of funds will continue to be determined by community leaders and residents.
Now is the time for the Roxbury Trust Fund Trustees to hear from the broader Roxbury community so, together, we can move forward with the plan!