He said the foundation also has distributed a larger percentage of grant reserves into local programs that are “very stressed” to provide services because of the weak economy.
The study by CF Insights, a Boston foundation research and analysis organization, reviewed data on grants as a percentage of total assets for about a third of the national sector and prepared the report in partnership with the national Council on Foundations.
The study found that Middletown’s $2 million in grants and scholarships distributed in 2011 constituted the 69th highest percentage of community foundation assets awarded nationwide for the year, Gordon said.
Started as a fund of the local United Way in 1976, the Middletown Community Foundation has disbursed more than $31 million in grants and scholarships and will pass the $32 million mark next month, Gordon said.
Dr. Bob Flagel, the Middletown foundation’s board president, said local residents have expressed the importance education plays in the community.
Gordon said the foundation understands that education is the “primary path to improving a community” and therefore the foundation dedicates as many of its resources as possible to improving the community’s continuum of education.
The Middletown Community Foundation holds approximately $25 million in charitable assets that are used to fund grants and scholarships to benefit the more than 100,000 residents of Middletown and surrounding communities, Gordon said.
It is the fourth-largest community foundation in southwest Ohio, after The Greater Cincinnati Foundation (27th on the list this year,), The Dayton Foundation (77th) and the Hamilton Community Foundation (which this year dropped out of the top 100).
The Middletown Community Foundation’s nearly $900,000 annual college scholarship program ranks as the sixth-largest independent scholarship program in the state based on dollars granted per year.
The foundation also distributes more than $500,000 in discretionary grants annually through a quarterly competitive application process and more than $500,000 annually in restricted grants that are designated by donors to benefit certain specific charities.
Contact this reporter at (513) 705-2842 or rmccrabb@coxohio.com.
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