Honoring Philanthropy; Banking on Retirement; Cape Cod Grants
May 7, 2019 Essex County Community Foundation honors philanthropy... 51 Massachusetts nonprofits now enrolled in retirement plan... Cape Cod Foundation inaugural awards from funds honoring fallen officer.
Essex County Community Foundation Honors Philanthropythe Essex County Community Foundation (ECCF) in Danvers last week announced that the Greater Lawrence Disaster Relief Fund, created to help those impacted by explosions on Sept. 13 caused by a gas leak that damaged homes and structures in Lawrence, North Andover, and Andover, delivered $12.6 million to 10,000 people.
ECCF, at its annual Celebration of Giving, held at the DoubleTree in Danvers and attended by a record-breaking 575 people, acknowledged the 6,887 donors, who were honored with foundations George Peabody Award for outstanding philanthropy in Essex County.
Gov. Charlie Baker, who accepted the award on behalf of the donors, spoke about how trust played a critical role in the success of the restoration and relief effort, noting, ECCF had peoples trust. That was the word, over and over again, that came out of peoples mouths. Everybody trusts the Essex County Community Foundation.
Beth Francis, president and CEO of ECCF, said, ECCF is so incredibly grateful for [local] nonprofits, who beyond providing critical direct services, also made time to meet us at the table every day, for weeks and months, to plan and execute the delivery of the millions and millions of dollars.
51 Massachusetts Nonprofits Now Enrolled in Retirement PlanEighteen months after the launch of a retirement plan, that was developed specifically for Massachusetts nonprofit organizations with 20 or fewer employees, 51 organizations are now enrolled, state treasurer Deb Goldberg announced last week.
Key features of the CORE (Connecting Organizations to Retirement) plan include administration and oversight provided by the treasurer's office on behalf of participating employers, fiduciary assistance to the states small nonprofits, professionally developed investment options, and automatic enrollment.
Because the treasurer's office assumes most administrative responsibilities on behalf of participating employers and their employees, nonprofits utilizing the new, defined contribution plan may potentially save costs associated with administering retirement plans offered through their organization.
James Klocke, CEO of the Massachusetts Nonprofit Network, the state's nonprofit trade association, which helped launch the plan, quoted by the State House News Service, said, For many nonprofits, its a challenge to offer competitive employee benefits, Klocke said. The CORE plan provides small nonprofits with an affordable way to invest in their employees.
Cape Cod Foundation Inaugural Awards from Funds Honoring Fallen OfficerThe Cape Cod Foundation, based in South Yarmouth, last week announced that it has awarded inaugural grants from a fund that was created to honor Sgt. Gannon, a K-9 officer with the Yarmouth Police Department, who was killed in the line of duty in April 2018.
The fund seeks to foster education, health, and leadership by encouraging service through action.
Receiving the grants, totaling $3,000, were the following: