For Immediate Release

North Valley Community Foundation reported total assets of $6 million in May 2008, up 78 percent from May 2007.

“Increased visibility and expanded services has helped drive the foundation’s increase”, said Alexa Valavanis, CEO of the Foundation. “Also, securing the $1.5 million Emil W. Stiefvater Charitable Fund designated to provide resources and financial support to benefit older adults, was a great addition to the Foundation during the year,” added Valavanis.

In another significant development, the foundation received seed money to develop the Annie B’s Community Drive; a grant program that distributed nearly $900,000 to127 local nonprofits during its inaugural year.

“The success of the Annie B’s Community Drive is something the entire community is responsible for. It is a program that supports and strengthens all of the area nonprofits – illustrating the power of working together.’’ Valavanis said.

Overall, the North Valley Community Foundation made $1.3 million in grants and scholarships this year, up 233 percent from last year.

During the last three years it has increased grants and scholarship by 800 percent, as its assets dramatically increased from $2 million to $6 million.

The philanthropic foundation works with individual donors in setting up funds and administering grants, Valavanis said. “The Foundation is an effective vehicle to connect nonprofits and donors, as they develop solutions to the challenges facing our communities.”

Nationwide, giving by community foundations increased 14 percent last year to $4.1 billion, according to the Foundation Center, which tracks the nonprofit organizations. It reports that the growth in community foundations stems from “strong asset growth, new gifts, and bequests from donors and exceptional disbursements from donor-advised funds.”

More than 700 community foundations — ranging in size from the largest, the Tulsa Community Foundation with $2.43 billion, to small ones with $100,000 or less — exist throughout the U.S., according to the Council on Foundations, based in Arlington, Va. Overall, they have more than $44.8 billion in assets.

For more information contact the North Valley Community Foundation at 530.891.1150, or visit www.nvcf.org. # # #