Media release: Greater Community Bank is pleased to provide a $30,000 contribution to the Greater Community Fund, a donor advised fund established with the Community Foundation for Greater Rome. This very exciting philanthropic effort exists for the sole purpose of supporting the local economy and community.
The Fund has an approximate balance of $70,000, and the Bank currently contributes at least $30,000 annually. The Fund is expected to grow at an investment rate between 5 – 10% each year. The goal is to grow the fund to over $500,000, making it one of the largest funds at the Community Foundation for Greater Rome. Donations can be made from the investment dollars earned, without having to encroach on the principal balance creating a permanent endowment. This strategy will help ensure The Greater Community Fund will be able to provide for the community long into the future.
“Understanding the Bank’s role in keeping the community vibrant and growing by serving the many individuals and businesses who rely on them as committed partners in their endeavors is a must,” said David J. Lance, President and CEO of Greater Community Bank. “We respect the communities we serve by doing right by their customers and community.”
Once the Greater Community Fund reaches $500,000, we anticipate grants will be made from the Fund twice a year. Charities, 501(3)(c) organizations, and other interested groups may apply for these grants. The Fund will be unrestricted and can be awarded to any qualified party at the discretion of the board, with preference given to Greater Community Bank customers.
The Greater Community Fund provides the Bank with the ability to do greater good in the communities it serves. The Fund is the perfect way to create a sustainable annual giving back initiative. It is the hope of Greater Community Bank’s Board of Directors that the Bank will grow relationships with charitable organizations which benefit through this endeavor. Once goals are reached, the Fund will represent a cost savings to the Bank as it will replace current budgeted contribution dollars.
The Fund is ultimately Bank controlled, and the Bank will be able to provide direction as to the areas of interest that will benefit the communities we serve.
“We’ll do whatever it takes to go the extra mile to develop strong partnerships and long-lasting friendships with our customers,” Lance stated. “And at the end of the day, our success is our community’s success.”