Foundations Join National Philanthropy Day

November 15, 2023 | 0 Comments

This week, the Bermuda Foundation joins more than 1800 community foundations around the world in marking Community Foundation Week.

“The first one was established in 1914 and today community foundations exist in every continent, except Antarctica,” says Dr Myra Virgil, CEO/MD of the Bermuda Foundation. “We are proud to be part of this group which is responsible for combined giving of tens of billions of dollars each year to enrich their communities.

“Bermuda Foundation is approaching its 10th anniversary and while in the relatively early stages of our development, we are progressing strongly, fully accredited and with total assets under management of $21 million and $3.4 million facilitated in grant transactions in the most recent financial year.”

Like other community foundations, Bermuda Foundation serves donors to support the nonprofit community. “The purpose of establishing the Foundation was to expand giving in our community,” says Dr. Virgil. “We believe we have made strides in this respect, combining diverse resources for better results.

“Today communities around the world are facing appallingly turbulent situations with wars and climate change at the forefront. Sometimes it feels overwhelming. But if we bring back the focus to our own community, we can take steps to make things better close to home – as long as we work together. We can identify the solutions, as long as we work together.”

The spokesperson said, “November 15th has been declared National Philanthropy Day in the US since 1986. This day signifies the importance of working together for the common good. The Bermuda Foundation would like to pay tribute to all those philanthropists who have made our communities better, using their philanthropy for the common good.

“Last month, Chuck Feeney, successful Irish American businessman, passed away after giving away the wealth he accumulated in his lifetime. He gave almost $30 million to Bermuda. The late Allan Gray created a lasting legacy by making quiet but significant social investments in the nonprofit sectors, locally and abroad, such as funding bursaries and scholarships to students in under-resourced communities. In his belief that sport builds character and self-discipline, the late Charles E. Marshall, MBE, and his wife Lesley, invested $1 million to create a fund forever dedicated to youth football programmes.

“But you don’t have to be a billionaire to be a philanthropist. Several of the Bermuda Foundation funds are quietly making donations to change worlds in our own community.

“So, on Philanthropy Day and during Community Foundation Week, let’s all take a deep breath and think about how we can do more for our community, together.”

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