San Diego Habitat for Humanity Establishes $214,000 Endowment at The San Diego Foundation
Jan
21
Written by:
1/21/2011 8:15 AM
Jan. 21, 2011 - The San Diego Foundation announces that San Diego Habitat for Humanity has established a $214,000 endowment with the organization. The charitable fund assures that the mission of Habitat for Humanity to build simple, decent and affordable homes for ownership by local families in need will continue in perpetuity.
Habitat for Humanity is a faith-based organization that invites people of all backgrounds,
races, faiths or no faith to join the effort in strengthening families, neighborhoods and
communities. Habitat for Humanity exists through volunteer labor and contributions of
money, land and materials, including purchases and donations to ReStore, San Diego Habitat
for Humanity’s building supply thrift store.
“San Diego Habitat for Humanity (SDHFH) is an independently governed affiliate of and does
not receive any funding from Habitat for Humanity International (HFHI). As such, it needs to
ensure that its local programs are protected in the future,” said Bradford Bates, President
and CEO of San Diego Habitat for Humanity. “We must attract donors who evaluate and
support organizations with endowments, and made the decision to partner with
The San Diego Foundation due to its fundamental commitment to improving quality of life for
all San Diegans. There’s a strong synergy between us,” Bates said.
San Diego Habitat for Humanity has the resources to establish this endowment due to a
generous donation of a parcel of local real estate. SDHFH retained this property for several
years, using the rental income to help purchase building materials. Being a good steward of
this charitable contribution, SDHFH waited until the economy began to pick up and the house
had more than doubled in value. Only then did SDHFH sell it and place the proceeds with
The San Diego Foundation in an effort to ensure funding for future programming from the
income and donations that the endowment will attract.
“We truly are honored to have San Diego Habitat for Humanity join our family,” said Bob
Kelly, president and CEO of The San Diego Foundation. “As a result of our recent research,
we know that affordability is the #1 priority for San Diegans which makes our relationship
with Habitat for Humanity so critical. It is very exciting that the San Diego Habitat for
Humanity Endowment will help meet this clearly identified need.”
With hundreds of philanthropic partners, The San Diego Foundation supports nonprofit
organizations and public institutions in fields such as the environment, science and
technology, the arts, civic engagement, education, health and human services and other
areas of need as diverse as the region itself.
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