Record levels of grants awarded by Community Foundation
Responding to a wide range of heightened needs during an unsettling year, grantmaking by the Hudson Community Foundation (HCF) and the Donor Advised Funds reached record levels in 2020.
In all, HCF and Donor Advised Funds distributions increased by 40 percent to $3.2 million in 2020, with grants going to 340 charities nationwide. This includes more than $1.3 million to non-profit organizations located in or directly serving Hudson. In large part, the donations come from generous local families and companies that have established Donor Advised Funds (DAF), endowments, scholarship and memorial funds and special-purpose funds at HCF. DAFs are a financial vehicle that enables people to easily donate to the charities they support as individuals. When opened, a donor gets immediate tax benefits, but can recommend grant dollars anytime within three years.
“These extraordinary results in 2020 reflect the role a community foundation was designed to play,” said HCF president Amy Jordan. “We are here not only to meet the needs of our local community, but also to support our donors in reaching their overall personal philanthropic goals in a manner that is convenient, efficient and responsive. Some of our donors and recipients are entirely focused on helping Hudson, while others have a regional or national view of how their distributions are invested.”
Across the country, distributions from HCF were directed to more than 80 organizations delivering social and human services, 30 colleges and universities, 24 arts and culture organizations, 22 healthcare and medical research facilities, 20 elementary and secondary schools and systems, 18 environmental and historic preservation groups and more than 50 faith-based organizations.
Distributions in Hudson included a wide range of organizations, such as the Baldwin-Buss House Foundation, Case-Barlow Farm, Drug Free Club (Hudson High School), Hudson Community Chorus, Hudson Community Service Association, Hudson City Schools, Hudson Community First, Hudson Food Pantry, Hudson Green Holiday Lighting Fund, Music from the Western Reserve, Seton Catholic School, Western Reserve Academy and various churches and a temple.
In 2020, 15 Hudson restaurants and retail stores also received grants from a special COVID-19 Relief Fund created by HCF to support local businesses endangered from a loss of customer traffic during the pandemic.
“All of this good work was supported by the exceptional generosity of our local donors. We opened 13 new funds last year and accepted more than 918 total donations to our annual fund drive or to one of our established funds. Of these, 343 were new donors to HCF in 2020,” Jordan said. HCF ended the year with $25 million in assets, increases of 10 percent from 2020 and about 48 percent from two years ago.
Founded in 2000, Hudson Community Foundation’s mission is to enhance the overall quality of life in the Hudson area by increasing charitable giving, educating and connecting donors to community needs and leading on community issues. Supported by hundreds of local donors and Donor Advised Funds, HCF ended 2020 with assets of $25 million. The foundation operates from an office in the historic Baldwin House on Hudson’s village green and is governed by a volunteer board of directors.