Gulf Coast Awards Nearly $10 Million in Donor Grants

Gulf Coast Community Foundation’s Board of Directors recently approved over $10.5 million in grants and initiatives. That total included $9.7 million in grants recommended by donors to the foundation.

The largest portion of the donor-recommended grants was $7 million awarded from donor advised funds at the foundation. These are charitable funds established by donors with a gift to Gulf Coast, which then administers the fund for them and issues grants to qualified nonprofits at their recommendation. Donors may recommend grants from their donor advised funds to charities locally and around the world.

Mark Pritchett, Gulf Coast’s President and CEO, noted that the bulk of the grant money awarded from these funds goes directly to organizations and causes within the region. However, by assisting donors with their giving both locally and beyond, Gulf Coast can serve as their “one-stop shop” for smart, tax-wise charitable giving.

“We make the process of giving easier and more efficient, freeing up our donors to be even more thoughtful about what causes to support and how to have the most impact through their philanthropy,” said Pritchett. “Plus we can introduce them to strong nonprofits and innovative projects right here in our community that best match their interests, if they wish.”

Gulf Coast also approved more than $1.5 million in grants from designated funds at the foundation. These are funds that donors create to benefit the specific charity or charities of their choosing. They include funds created by living donors, who specify which organizations they want to support and simply let the foundation handle the administration, as well as funds established by now-deceased donors who entrusted Gulf Coast to carry on their charitable legacy through annual grant awards to their preferred charities. 

Finally, the Gulf Coast Board approved nearly $1.1 million in grants issued from project funds. These are funds established to benefit community projects or partnerships with a charitable purpose that meets the foundation’s mission, but for which there isn’t another organization equipped to handle donations and manage the fund.

The recent distributions from project funds at Gulf Coast included support for First 1,000 Days Sarasota County, a regional collaboration led by Charles & Margery Barancik Foundation to improve prenatal, newborn, and early childhood care for all children in the county, and the Here4Youth mental-health initiative, a partnership of funders, nonprofit service providers, and government agencies working to improve mental-health services for children, youth, and young adults in Sarasota County.

“Considering the wide range of individual donors and strong organizations that look to Gulf Coast to help administer their philanthropy, it amazes me to see how far this foundation has come in 25 years,” said Pritchett, referring to the foundation’s 25th year in operation. “These grants demonstrate both the value of community foundations as a field and the uniquely important role of Gulf Coast Community Foundation in this region.”