The Arizona Community Foundation and its donors recently announced grant, scholarship and loan distributions for its fiscal year, which ended March 31.
A total of $74,191,251 in awards came from funds of the Arizona Community Foundation and its six statewide affiliates in Cochise, Flagstaff, the Gila Valley, Sedona, Yavapai County and Yuma, according to a press release.
Funds totaling $67,191,251 in both discretionary and advised grants and scholarships went to five strategic priority areas: health innovations; community improvement and development; environment and sustainability; arts and culture; and quality education.
In the area of quality education, the Arizona Community Foundation awarded grants and scholarships totaling $19 million during the year, including $4 million in college scholarships for the benefit of 1,458 Arizona students.
At nearly $27 million, grants in the area of health innovations received the largest share of distributions, which went to 2,825 organizations and programs in the areas of health, health care, medical research and a variety of human services.
Over $6.5 million went to 695 programs in the category of community improvement and development, which includes economic development, law, justice, public safety, housing and neighborhood programs.
A total of $3 million went to 509 organizations and programs in the areas of environment and sustainability, including environmental education, renewable resources, conservation and animal welfare.
Just over $5.1 million was awarded to 565 arts and culture organizations across Arizona, including artists, music and cultural institutions.
The total distributed across all categories represents over 7,000 individual grants and scholarships.
In addition to these grants, 116 nonprofit organizations with dedicated agency endowments, which the Arizona Community Foundation manages, received their annual distributions, accounting for the remaining $6,209,456 distributed during the year, a release states.
ACF’s Community Impact Loan Fund allowed the foundation and partners to invest an additional $7 million in below market loan funding to four organizations in fiscal year 2020.
These loans included $1 million to Desert Botanical Garden to renovate its on-site restaurant; $4 million to Foundation for Senior Living to construct the Glendale Adult Day Care Center for Seniors; $1.5 million to Native American Connections to construct the Dunlap Wellness Center; and $550,000 to Lost Our Home Pet Rescue to renovate their existing site.
This charitable vehicle works alongside traditional grantmaking, accomplishing two goals: producing measurable social impact; and building resources for future investing.
Working together with a variety of capital partners, grantmakers and nonprofit leaders, the $23 million Community Impact Loan Fund produces capital solutions that are more robust than grants alone, a release claims.