San Diego’s Largest-Ever Endowment Initiative Announced Today
The San Diego Foundation Unveils New Initiative at 30th Anniversary Celebration
San Diego, CA, October 15, 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 tonight San Diego’s largest, region-wide endowment drive ever to be initiated. Named Endow San Diego, the effort is a multi-year initiative designed to inform and inspire San Diegans to understand and support endowments.
“We want people to endow their passions,” said Bob Kelly, President and CEO of The San Diego Foundation. “Creating an endowment ensures that one’s legacy can live on. It truly is the gift that doesn’t end. I’ve often said that no matter the neighborhood I find myself in, I can see the impact generous San Diegans have had on this community. Endow San Diego will allow for this to continue for years to come,” adds Kelly.
The newly announced initiative focuses on building permanent endowments for citizens and organizations committed to improving the quality of life in San Diego’s communities. Endow San Diego was announced tonight at The Foundation’s 30th anniversary event, which included the attendance of more than 1200 prominent San Diegans at the city’s downtown convention center and marks the first time so many regional nonprofits have come together as one to encourage action.
The San Diego Foundation was started when community leaders throughout the county laid the ground work for an organization focused on professionally developing nonprofit endowment building. Now 30 years later, Endow San Diego builds on that original effort by creating a fresh awareness of endowments and to increase the amount of dollars dedicated to sustain, maintain and provide support for community needs.
Last year, The San Diego Foundation completed a survey of nonprofits in the area and found that more than 70% of responding organizations do not have endowments and over 80% of them have no formal planned giving program. This puts many of the region’s important and essential programs at constant risk of losing its funding. This is exactly why Endow San Diego is so important; to ensure the future of our communities’ essentials. Endowments allow nonprofit organizations to add to their current fundraising needs by focusing on longer-term giving.
San Diego’s need for an increase in endowed programs can be clearly seen when comparing it to other cities
with comparable offerings. For example, the San Diego Museum of Contemporary Art has an endowment of
$40 million. While impressive, it pales in comparison to New York’s Museum of Modern Art which boasts an
endowment of almost one-half billion dollars.
Endow San Diego will work with nonprofit agencies to build permanent endowments, ensuring that the quality of life in San Diego is not only upheld but bettered for future generations. Qualcomm and KPBS are The San Diego Foundation’s partners in philanthropy and play a crucial role in ensuring the success of Endow San Diego.
As part of the mission of Endow San Diego, The San Diego Foundation marked the Foundation’s 30th year by establishing the Nonprofit Partnership Program, which is sponsored by Wells Fargo. This newly formed group will be organized to specifically develop a planned giving tool kit and to convene forums and educational seminars on various related topics—all designed to aid nonprofits in building endowment funds to support their organization/cause.
For more information visit www.endowsandiego.org
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 endowments in the San Diego region between now and the end of 2007. Endow San Diego – realizing the full potential of life in San Diego. Visit www.endowsandiego.com.
About the Nonprofit Partnership Program:
Created by The San Diego Foundation, the Nonprofit Partnership Program was developed as part of Endow San Diego. It is designed to empower nonprofit agencies, who are most often constrained by limited budgets, with educational materials to reach out to their respective communities and build awareness about endowments. This cohesive movement is designed to collectively reach all communities in San Diego, ensuring that nonprofits in each county are receiving the support and funds they need to sustain operation. Together through the Nonprofit Partnership Program, The Foundation and San Diego nonprofits will work to build a better, stronger and more unified San Diego.
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 $480 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 almost $400 million to nonprofits serving the community. Visit The Foundation at www.sdfoundation.org or call The Foundation at 619-235-2300.
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Television News Coverage
View streaming video of news coverage of The San Diego Foundation's 30th Anniversary and the Endow San Diego initiative:
10 News (Oct. 15, 2005)
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NBC 7-39 (Oct. 15, 2005)
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