WASHINGTON, Dec. 8, 2008 (GLOBE NEWSWIRE) -- In an effort to stimulate regional giving to support essential services to area residents hit hard by the current economic crisis, The World Bank Community Connections Fund today made a matching grant of $150,000 to the Neighbors in Need Fund. This fund was created by The Community Foundation for the National Capital Region to pool philanthropic dollars to support Washington-area charities providing essentials such as food, clothing and shelter.
The World Bank Community Connections Fund is The World Bank Group's in-house workplace giving program and all staff contributions are matched 50 cents on the dollar by The World Bank Group.
The Community Foundation will accept applications from eligible organizations for a Neighbors in Need Fund grant from Tuesday, December 9, 2008 - 4:00pm on Friday, December 19, 2008. Details can be found at www.thecommunityfoundation.org. Organizations selected for funding will be announced by Friday, February 6, 2009.
"Our region's safety net nonprofits need our help now," said Viki Betancourt, Manager of The World Bank's Community Outreach Program. "Thanks to the generosity of World Bank employees, we're able to assist organizations throughout the Greater Washington area that are on the front lines supporting our neighbors in need now and into the future. With its sound stewardship of charitable dollars and knowledge of our region's issues and nonprofit community, The Community Foundation is the ideal place to invest these funds."
The Community Foundation has long supported nonprofit safety net services in the Greater Washington region. In October 2008, The Foundation awarded $526,000 to more than 40 Washington, DC-area nonprofit emergency services providers. The Foundation has committed $250,000 to the Neighbors in Need Fund, and is actively soliciting contributions from individuals, families, corporations and private foundations to meet the fundraising goal of $1 million.
"The Neighbors in Need Fund is not just a short-term fix," added Terri Lee Freeman, President of The Community Foundation. "While the Fund will help 'safety net' organizations meet immediate needs, it is not meant to fill in the gaps unaddressed by public or private investments. These funds will help strengthen highly effective organizations advocate on behalf of their nonprofit community, and leverage additional investments from private institutional sources."
The Neighbors in Need Fund will be overseen by an inclusive steering committee of contributors that will set funding priorities and make grant decisions. Among the committee members are Vicki Betancourt (The World Bank); Sherry Houghton (MARPAT Foundation); Marie Johns (Leftwich Consulting and Community Foundation trustee); Desiree Griffin Moore (The Prince George's Community Foundation); Sally Rudney (The Montgomery County Community Foundation); Howard Stone (Prince George's County Government); Rosetta Thurman ( Nonprofit Roundtable of Greater Washington); and Mary Lou Tietz (former Executive Director, Community Family Life Services).
"We are deeply grateful to The World Bank Community Connections Fund for stepping up to the plate in such a generous way," continued Freeman. "This wonderful gift represents corporate responsibility at its best, especially in this season of giving."
Since 2002, The World Bank Group has sponsored an annual workplace giving program known as the Community Connections Campaign. The Campaign supports over 255 nonprofit organizations located in the Washington metropolitan area. To oversee the funds raised via the Community Connections Campaign, the Bank Group established the World Bank Community Connections Fund -- a nonprofit corporation organized for charitable purposes under section 501(c)(3) of the U.S. Internal Revenue Service tax code.
The World Bank Community Connections logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5656
Founded in 1973, The Community Foundation for the National Capital Region is the largest funder of nonprofit organizations in the Washington, DC area. In FY2008, The Foundation and its donors awarded some $91 million in grants to nonprofit organizations in the Washington, DC region and beyond. The Foundation has three affiliates -- Alexandria Community Trust, The Montgomery County Community Foundation, and The Prince George's Community Foundation.
The Community Foundation for the National Capital Region logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3032