Piper Charitable Trust Achieves $300 Million Milestone
Virginia G. Piper Charitable Trust, a private foundation that honors the legacy of Virginia Galvin Piper, achieved a grant-making milestone by investing more than $300 million in nonprofits and programs over the past 12 years. A grant award to Arizona Opera for $250,000 marks this defining moment in Piper Trust’s history.
Annually, Maricopa County’s 10 largest (public and private) foundations invest approximately $156 million in nonprofits and programs; the 10 largest private foundations in Maricopa County invest approximately $93 million.
“This is a significant point in time for all philanthropies in greater Phoenix that have come of age together and work daily as partners to elevate best practices within our nonprofits, establish state-of-the-art facilities in our communities and support programs that enhance quality of life for all,” said Judy Jolley Mohraz, president and CEO of the Piper Trust. “We also applaud the nonprofit community’s extraordinary contributions over the years and particularly during times of economic distress – their innovative nature and drive for excellence are invaluable to the health of our state.”
Arizona’s nonprofit sector is a major force in the state’s economy. In 2010, Arizona nonprofits contributed an estimated $19.9 billion, or 8 percent, of Arizona’s Gross Domestic Product.Over the past 12 years, Piper Trust has made strategic grants in the areas of health care and medical research, children, older adults, arts and culture, education, and religious organizations.
“It is very meaningful to be the organization connected to Virginia G. Piper Charitable Trust reaching its 300 million dollar investment milestone. Arizona Opera has received substantial support from the trust and our most recent grant will enable us to offer a range of new cultural activities and serve as a venue for other organizations to present new work. We are grateful and excited about the future,” said Scott Altman, general director of Arizona Opera.
At top: Virginia Galvin Piper