Communities Foundation Of Texas Reaches $2 Billion In Lifetime Grants
The Communities Foundation of Texas had its biggest year ever for grants in 2019, and has now surpassed $2 billion in total giving over the course of the organization’s history.
The foundation manages more than a thousand charitable funds. It took more than 50 years for the organization to hand out its first billion dollars — and just 10 to grant the next billion.
President and CEO Dave Scullin said the milestone sets a high bar for the future.
"We were kidding about 'well at that growth rate we only have two more years to get to the next billion,’” Scullin said. “ And although I think that that's improbable, who knows what the future holds, and we are on a run."
The last billion in grants was spread among different focus areas. The most money went to education — 26% overall. Health and scientific research came next at 19%.
In 2019, the Communities Foundation issued $118 million in grants. Scullin said this success is not about the foundation, but the philanthropic individuals and organizations they work with.
“We're building that spirit of giving, but we try to make the whole system work well and we want to be known as an organization that gets things done and helps people,” he said.
Because North Texas continues to grow, Scullin said the Communities Foundation has a lot to address going forward — especially in terms of education, housing and poverty.
Disclosure: The Communities Foundation of Texas is a funder of KERA's One Crisis Away project.