Posted 10:20 am Tuesday, February 19, 2013
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East Texas Communities Foundation reports record-breaking charitable assets for 2012
Staff Reports
The East Texas Communities Foundation reported that it ended 2012 with a record-breaking $53 million in charitable assets, marking the first year the foundation passed the $50 million milestone.
“Certainly political uncertainty and tax concerns caused a significant amount of year-end personal financial planning, including the establishment of several charitable funds, but the vast majority of new funds were established much earlier in the year,” said foundation president, Kyle Penney, in the news release.
This year also marks the first time that a woman, Shannon Dacus, was elected chair of the board of directors. This is Mrs. Dacus' sixth year on the board.
“Shannon has been a great board member and leader in our organization for many years.” Penney said in the news release. “Her peers recognize her leadership skills and her passion for charitable giving, and her election to this position is a natural fit.”
Bullard Rotary Club established a new charitable fund at the foundation in 2012, one of 23 organizations and families that helped break another record for the foundation with the highest number of new charitable funds established in a single year.
Bullard Rotary Club used its fund to collect more than $130,000 in public contributions to support the construction of Bullard Kid's Park, which opened in January.
Other new charitable funds included the Louis and Peaches Owen Endowment for English as a Second Language (benefiting Literacy Council of Tyler), Camp Tyler Outdoor School Endowment Fund, Brownsboro ISD Education Foundation, Nacogdoches County United Way Endowment Fund, three new endowment funds set up by a donor's estate to support East Texas Crisis Center, Azleway, People Attempting to Help (PATH) and many others.
“Certainly political uncertainty and tax concerns caused a significant amount of year-end personal financial planning, including the establishment of several charitable funds, but the vast majority of new funds were established much earlier in the year,” said foundation president, Kyle Penney, in the news release.
This year also marks the first time that a woman, Shannon Dacus, was elected chair of the board of directors. This is Mrs. Dacus' sixth year on the board.
“Shannon has been a great board member and leader in our organization for many years.” Penney said in the news release. “Her peers recognize her leadership skills and her passion for charitable giving, and her election to this position is a natural fit.”
Bullard Rotary Club established a new charitable fund at the foundation in 2012, one of 23 organizations and families that helped break another record for the foundation with the highest number of new charitable funds established in a single year.
Bullard Rotary Club used its fund to collect more than $130,000 in public contributions to support the construction of Bullard Kid's Park, which opened in January.
Other new charitable funds included the Louis and Peaches Owen Endowment for English as a Second Language (benefiting Literacy Council of Tyler), Camp Tyler Outdoor School Endowment Fund, Brownsboro ISD Education Foundation, Nacogdoches County United Way Endowment Fund, three new endowment funds set up by a donor's estate to support East Texas Crisis Center, Azleway, People Attempting to Help (PATH) and many others.
