Chico, California (July 5, 2007) – North Valley Community Foundation (NVCF) has announced year-end figures for fiscal year 2007. These numbers demonstrate growth in all aspects of its operations. During the12 month period ending June 30, 2007, overall assets increased to $3,424,830 from $2,664,124.. In part this is due to investment returns of 15 percent. However, new contributions totaling $1,128,191have been the most significant factor in this growth. These contributions were directed to many donor-advised or agency-advised funds managed by the Community Foundation. Including, the Boys and Girls Club Endowment Fund, Chico High School Foundation, Collin Sweeney Memorial Fund, Jesus Center Endowment Fund and the Computers for Classrooms Endowment Fund.

Additionally, 36 new funds were established at NVCF, bringing the total number of funds to 120. New funds include,Bertagna Family Endowment Fund (CHSF), Incaudo Family Foundation, Butte Community Cancer Endowment Fund and the Community Alliance Fund.

During this past fiscal year, NVCF distributed a total of $377,445 in grants. These grants supported programs servicing our youth, the local arts, healthcare, education, older adults and many other areas..

“Our community can be proud of the significant growth that has taken place this year,” states NVCF Executive Director Alexa Valavanis. “This demonstrates the strong commitment to giving from many community members. As more people understand how the Community Foundation can make it easy to realize their charitable wishes, we will see this trend continue.”

“Many people think it takes great wealth or a large estate to make a difference with charitable giving,” explains Valavanis. “Giving through the Community Foundation can assist even more modest gifts result in great impact, There are several reasons of this including the Community Foundation expertise in nonprofit operations, which insures the accountability necessary to be certain donations have a measured impact. In addition, the Community Foundation is able to combine funds to make a focused impact, rather than have donations spread out, where they may be less effective. Furthermore, these donations most often have an impact right here in our community, where we understand the needs and how to address them.”

“I believe in the coming year we will see the continued trend of increased charitable giving,” continues Valavanis. “More people with accumulated assets are looking for ways to give back to their community. Also, we are helping people understand they may use a wide variety of assets for charitable giving, including appreciated stocks, real estate, or even IRAs.”

“In addition to the increased financial assets reflected in our year-end reports, our capacity was recently increased with the addition to our staff of Alexa Valavanis as Program Officer,” states Valavanis. “Lee’s many years of work for local nonprofits brings a wealth of knowledge and relationships. This increases our ability to meet donor’s needs and enhances our ability to increase the effectiveness of local nonprofits.”

During the coming year, NVCF will be launching several new initiatives. This includes the Annie B’s Community Drive, with approximately $100,000 to be distributed in challenge grants to a wide variety of local organizations. NVCF will also be encouraging community members to designate, in their will or trusts, a portion of their estate to favorite charitable causes. In addition, NVCF will continue efforts to raise the awareness of professional advisors in our community regarding charitable giving, so they can better meet the needs of their clients.

NVCF is a unique nonprofit, philanthropic organization that builds financial resources to meet community needs through grants and programs, primarily for residents in the Butte, Colusa, Glenn and Tehama counties. With net assets of nearly $3.5 million, NVCF provides financial and administrative services to donors, professional advisors and nonprofit organizations with the goal of enriching the quality of life for community members. Since 1989, hundreds of individuals, families, businesses, and community groups have established funds at the Foundation.

North Valley Community Foundation is one of approximately 750 community foundations throughout the United States that provides similar services. Each is dedicated to increasing philanthropy and improving and enriching the lives of community members in a specific geographic area. Combined assets for community foundations throughout the United States is over $50 billion.
The NVCF office is open Monday – Friday, 8am-5pm and by appointment on the weekends. NVCF is located at 3120 Cohasset Rd., Suite 8 in Chico, California, (530) 891-1150.