| Schaefer Legacy Gift Supports Neighborhoods through BCF |
The Baltimore Community Foundation today announced that $1.4 million from the private foundation established through former Governor William Donald Schaefer's will is being donated to the William Donald Schaefer Civic Fund of BCF.
 The Fund, established in 2008 by Governor Schaefer, supports BCF's highly regarded Neighborhood Grants Program. Since its inception, the Schaefer Civic Fund has funded a variety of projects including a summer camp for youth, a mentoring program, community festivals and numerous community gardens and beautification projects. (See the full list of 2012 NGP grantees)
The Schaefer Civic Fund currently has assets of about $400,000. The addition from the late Governor's estate will bring the total close to $2 million in permanent endowment that will provide a source of support for Baltimore neighborhoods for generations to come. The assets of the Fund are invested, and 4.5% per year is available for grants. The addition of $1.4 million to the fund will mean $63,000 more each year in grants to neighborhoods. More on the gift
Memorial donations may be made to the Schaefer Fund at www.bcf.org/schaefer.
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