San Diego, CA, December 14, 2005 – The San Diego Foundation, a nonprofit, community-based organization focused on improving the quality of life in San Diego through responsible and effective philanthropy, announced today three new endowment gifts as part of its Endow San Diego initiative launched just two months ago. Those three come from the Shaw Family Fund for San Diego Repertory Theatre, the endowment challenge for the San Diego Lesbian, Gay, Bisexual, Transgender (LGBT) Community Center, and the Frank H. Ault Scholarship Fund for college students majoring in accounting or finance.
“Endow San Diego is working beautifully. It’s simply outstanding to see how the giving nature of San Diegans continues to be so fruitful,” said Bob Kelly, President and CEO of The San Diego Foundation. “I’m delighted for the organizations and individuals that will benefit from the generosity of these civic leaders,” added Kelly. The Endow San Diego initiative is designed to build permanent endowments to improve the quality of life in San Diego’s communities.
The Shaw Family Fund
Bill and Linda Shaw established this endowment fund to provide support for the San Diego Repertory Theatre. The Shaws focus their charitable giving on smaller established theaters in San Diego that strive to provide new and existing plays that speak to and of the communities and people surrounding San Diego.
The endowment gift for San Diego Repertory Theatre will be a source of support to ensure it remains vibrant for decades and generations to come. “Personally, this is the start of a dream-come-true. It is challenging to begin every year at zero and try to build a dream at the same time you try to fund it. This generous key gift begins the process that will result in the fulfillment of a vision,” said Karen Wood, Managing Director of the San Diego Repertory Theater.
The San Diego Lesbian, Gay, Bisexual, Transsexual Community Center Meets Challenge
The San Diego LGBT Center endowment was established to support its mission to enhance and sustain the health and well-being of the lesbian, gay, bisexual, transgender and HIV communities. Both the endowment and the challenge were created three years ago, by donor Jim Ziegler.
“I believe a successful nonprofit simply must have an active and growing endowment for it to be successful over the long term,” added Ziegler. Mr. Ziegler proposed a $100,000 challenge grant by offering to donate $1.50 for every dollar The Center raised. Because of the successful efforts of The Center’s staff and support of many donors, the challenge has been met more than six months early, increasing the endowment to a total of approximately $167,000. This represented a good start of an ongoing goal of building endowment.
The Frank H. Ault Scholarship Fund
Frank H. Ault, Senior Vice President & Controller of Sempra Energy, established the scholarship fund to help underscore the importance of education and its impact on a community. “I believe in putting back into the community and assisting others," says Ault. The fund provides financial assistance to current college students who have declared a major in finance or accounting.
Mr. Ault served 16 years on The San Diego Foundation's Board of Governors, including two years as its chairman. He currently chairs The Foundation's Scholarship Program. He also is chairman of the San Diego Regional Fire & Emergency Services Foundation supporting San Diego County's 27 volunteer fire departments. He has been a volunteer firefighter since 1961, and is currently a firefighter with the Mt. Laguna Volunteer Fire Department and serves on its board of directors.
About Endow San Diego:
Endow San Diego is a regional, multi-year initiative designed to build permanent endowments for citizens and organizations committed to improving the quality of life in San Diego’s communities. This initiative unites organizations and individuals with the common goal to increase endowment in the San Diego region between now and the end of 2007. Endow San Diego – realizing the full potential of life in San Diego.
An endowment is a tool that builds long-term stability for organizations, reducing dependence on the success of annual fundraising to support programs and operations. An endowment fund preserves a charitable donation permanently. The money is invested, and the earnings provide continual support for a cause or organization. To learn more about endowments and the Endow San Diego initiative, visit www.endowsandiego.org.
About The San Diego Foundation:
Founded in 1975, The San Diego Foundation was created by and for the people of the San Diego region. Its purpose is to promote and increase charitable giving that is effective and responsible. The Foundation manages nearly $500 million in assets, almost half of which reside in permanent endowment funds that extend the impact of today’s gifts to future generations — continuing to make San Diego a better place to live, work and play. Since its inception, The Foundation has granted more than $400 million to nonprofits serving the community. For more information about The San Diego Foundation, visit www.sdfoundation.org or call (619) 235-2300.
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