Foundation For The Carolinas Reaches $1 Billion in Assets



Foundation For The Carolinas’ 2013 Annual Meeting

Foundation For The Carolinas announced a pivotal milestone this year: for the first time in its 55 year history, FFTC has reached more than $1 billion in charitable assets. FFTC now ranks 12th in asset level among the more than 700 community foundations in the United States.

These results were formally announced at FFTC’s sold-out Annual Meeting luncheon in March 2013. The event provided an overview of FFTC’s activities during 2012, a year of unprecedented results for the organization. In addition to reaching the $1 billion threshold, grants to nonprofit organizations from FFTC-held funds rose to a record $160 million, the fourth highest among community foundations. Contributions to funds held by the Foundation reached nearly $264 million, again a record in FFTC’s history and an 85 percent increase from 2011. FFTC also ranked fourth in 2012 among community foundations in contributions to funds.

Foundation For The Carolinas’ CEO and President Michael Marsicano believes the increase in philanthropic gifts demonstrates that donors are responsive to the needs of the community, and that their giving reflects a belief in the resilience and forthcoming rebound of the economy. “Donors care passionately about this community. They are eager to support those organizations working to make a difference. Foundation For The Carolinas is proud to be chosen as their philanthropic partner,” said Michael Marsicano.

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