KRVR Donates Cal Water Grant to KRV Community Fund
Mar 25, 2014
Kern River Valley Revitalization (KRVR) made the largest contribution to date to the Kern River Valley Community Fund. Using the $20,000 grant received from California Water Services, the KRVR contribution will be matched from a $100,000 matching grant program for a total contribution to the Kern River Valley Community Fund of $40,000. This will bring the balance in the Kern River Valley Community Fund to $82.000.00.
On December 3, 2013 Kern River Valley Revitalization (KRVR) received a $20,000.00 Grant from California Water Services Company (Cal Water). The grant is one of many Community Grants awarded to local communities by Cal Water to benefit those communities in need.
At its meeting on Wednesday March 19, 2014 the KRVR Board of Directors voted to donate the $20,000.00 grant to the Kern River Valley Community Fund. The Kern River Valley Community Fund is a Permanent Endowment Fund established and managed by residents of the Kern River Valley for the benefit of the Kern River Valley. The fund is managed through Kern Community Foundation for the sole benefit of the residents of the Kern River Valley.
In 2012 The Kern River Valley Community Fund received an anonymous donation of $100,000.00. The donation was in the form of a matching fund. Every dollar raised by the Kern River Valley Community Fund is matched by a dollar from the matching fund up to $100,000.00. The $20,000.00 Cal Water grant will be matched to create a $40,000.00 contribution to the Kern River Valley Community Fund.
On December 31, 2013 the Community Fund had a balance of $42,257.72. With the addition of the Cal Water Grant money the fund will have a balance of over $82,000.00. A Permanent Endowment Fund means that the money deposited in the fund stays in the fund. Earnings from the fund are awarded each and every year. It is the gift that keeps on giving. In these times of decreasing government budgets, community endowment funds are more important than ever. Increasingly, community funds will be a major way public benefit organizations and projects will be funded.
In keeping with the KRVR mission to “facilitate the social, natural, and financial health of the Kern River Valley for this and future generations” we are proud to make this announcement.
It is estimated that when the fund reaches $100,000.00 it will be self-sustaining and will afford an estimated $5,000.00 each year for grants to non-profits and constructive projects in our valley. We would like to receive full benefit of the Matching Fund by growing our fund to $200,000.00.
If you would like to contribute to the Community Fund, you can send checks made payable to the Kern Community Foundation (Tax ID#77-0555874) for the benefit of the Kern River Valley Community Fund. Mail to Kern Community Foundation 3300 Truxtun Ave, Suite 220, Bakersfield, CA 93301. All gifts to the Fund are fully tax deductible.
To learn more about Kern River Valley Revitalization, watch their video on Kern Community Foundation Live!