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Arizona Community Foundation And Donors Distribute $65 Million In 2019 Fiscal Year
The Arizona Community Foundation and its donors have announced the total for grant, scholarship, and loan distributions for its fiscal year ending March 31, 2019.
A total of $64,869,934 was awarded from funds of the Arizona Community Foundation and its six statewide Affiliates in Cochise, Flagstaff, the Gila Valley, Sedona, Yavapai County, and Yuma.
Funds totaling $63,413,934 in both discretionary and advised grants and scholarships were awarded in five strategic priority areas: Health Innovations, Community Improvement & Development, Environment & Sustainability, Arts & Culture, and Quality Education.
In the area of Quality Education, the Arizona Community Foundation awarded grants and scholarships totaling nearly $20 million during the year, including $3.8 million in college scholarships for the benefit of 1,416 Arizona students. The Arizona Community Foundation is the state’s largest private provider of college scholarships.
At $22.5 million, grants in the area of Health Innovations received the largest share of distributions, which were awarded to 2,565 organizations and programs in the areas of health, health care, medical research, and a variety of human services.
Nearly $6.5 million went to 642 programs in the category of Community Improvement & Development, which includes economic development, law, justice, public safety, housing, and neighborhood programs.
A total of $3.1 million went to 471 organizations and programs in the areas of Environment & Sustainability, including environmental education, renewable resources, conservation, and animal welfare.
Nearly $3.4 million was awarded to 498 Arts & Culture organizations across Arizona, including artists, music, and cultural institutions.
The total distributed across all categories represents over 7,000 individual grants and scholarships.
In addition to these grants, 102 nonprofit organizations with dedicated agency endowments managed by the Arizona Community Foundation received their annual distributions, accounting for the remaining $8,228,856 distributed during the year.
ACF has emerged as a national leader in impact investing with its Community Impact Loan Fund, through which the Arizona Community Foundation and partners invested an additional $1,456,000 in below market loan funding to two organizations in fiscal year 2019. These loans were comprised of $1,050,000 to the Phoenix Art Museum to fund upgrades and expansion for the museums vault and storage capabilities and $406,000 to the Torah Day School to expand capacity and reach more students at their current location.
This charitable vehicle works alongside traditional grant-making accomplishing two important goals: producing measurable social impact; and building resources for future investing. Working together with a variety of capital partners, grant-makers, and nonprofit leaders, the $23 million Community Impact Loan Fund produces capital solutions that are more robust than grants alone.