Sara Wilensky
The San Diego Foundation
(619) 235-2300 ext. 338
sara@sdfoundation.org

January 26, 2007 – It was just an idea in the minds of several Escondido community leaders in 2006, but in the first month of the new year, the Escondido Community Foundation is a reality -- a swiftly growing reality. Announced in November with 26 members, the foundation now counts 57 names on its members’ roster; 51 of whom are Founders and have committed between $1000 and $5000 each year for the next five years.

The current five-year commitments and contributions to the Foundation total over $328,000 with almost $50,000 already available for grants before the end of 2007. Support for the Foundation includes a $10,000 challenge grant from the Escondido Rotary Foundation as well as a $25,000 grant from the City of Escondido.

Community leaders from across the spectrum of local business, philanthropy and public service gathered at the Escondido Chamber of Commerce last night to mark the success of their effort in creating a foundation specifically to support the Escondido community.

"This really represents the launch of a legacy for Escondido, something generations of residents will take pride in," states Jack Raymond, founding chair of the Escondido Community Foundation Board. "We see the Escondido Community Foundation becoming a well of charitable support for the nonprofit organizations that serve our community, not only in the coming year, but forever."

The Escondido Community Foundation is a community-specific effort to meet the emerging needs of Escondido by encouraging and increasing responsible and effective philanthropy by and for the benefit of all who live, work and give in Escondido.

The Escondido Community Foundation will be part of a network of community foundations affiliated with The San Diego Foundation, each serving the unique needs of communities throughout the region. These local community foundations are being formed within the 'Endow Your Community' effort of The San Diego Foundation's region-wide initiative, Endow San Diego. This multi-year initiative informs and inspires San Diegans regarding the benefit of endowment.

Endowments are permanent charitable funds with the requirement that the principal is never spent. The balance of these funds is invested, earning income that is then spent to support charitable works in perpetuity.

Half of the donations will immediately go into annual grantmaking, while the other half will be placed in a permanent endowment. The members of the Escondido Community Foundation will vote annually and decide where the grantmaking dollars go and to which causes they feel are most appropriate for Escondido.

“This was my opportunity to continue to help the many deserving Escondido nonprofit organizations despite my most recent move to the for profit sector,” believes Linda Bailey, newest founding member. As the former executive director of the Escondido Education Foundation, Bailey joined because she wanted to encourage effective philanthropy in Escondido. “I believe in Escondido. The Escondido Community Foundation gives me the opportunity to support the nonprofit community that makes Escondido a great place to live and work.”

Over halfway to their goal of 100 Founders, and with increasing support, the Escondido Community Foundation is on its way to fulfilling its goal of having $5 million in endowments by 2011. By that time the Escondido Community Foundation aims to provide at least $250,000 per year in grants to benefit organizations and individuals in Escondido.

If you would like to join the Escondido Community Foundation, or to get more information, please call Heather Dugdale at 858-385-1595, or e-mail Heather@SDFoundation.org.

About The San Diego Foundation
Founded in 1975, The San Diego Foundation is a broad-purpose community foundation helping individuals, families and organizations carry out their charitable plans, with the common goals of improving the quality of life in the greater San Diego region, now and for generations to come.