YARMOUTH – The Cape Cod Foundation has reported $100 million in assets after another year of what officials called unprecedented growth.
What began with the foundation’s establishment in 1989 with a single $10,000 scholarship fund has since distributed more than $90 million in scholarships to local students and grants to nonprofit organizations across Cape Cod.
President and CEO Kristin O’Malley cited a number of reasons.
“More and more donors are partnering with the foundation to support and expand their philanthropic efforts through our community knowledge, financial expertise and other resources. This year alone, donors established 23 new funds with us, bringing the total number of funds we administer to over 330.”
In response to the COVID-19 pandemic, the organization has also approved an increase in the annual amount of distributions from its endowment funds to help address increased community need, said officials.
As the pandemic continues, O’Malley said that the foundation will continue to support local nonprofits as well as administer its Strategic Emergency Response Fund, established in 2020 to rapidly deploy pandemic relief.
“The coronavirus and recent emergence of the omicron variant will continue to exacerbate existing needs, making it more critical than ever to invest in nonprofit organizations providing critical programs and services to those in need,” said O’Malley.
Through the fund, the foundation has raised more than $3.58 million and distributed more than $2.5 million to 60 nonprofits across the region.
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