In a significant move to counteract the increasing financial pressures on LGBTQ-serving agencies due to government funding cutbacks, The Our Fund Foundation has decided to increase its annual endowed asset distribution from 5% to 6% for the current fiscal year. This adjustment will make an additional $92,000 available in grant dollars, aimed at providing immediate relief to organizations that are facing heightened challenges in serving South Florida’s LGBTQ community.
David Jobin, President and CEO of The Our Fund Foundation, emphasized the critical nature of this decision, stating that the additional funding could be pivotal for many agencies teetering on the edge of survival. The Foundation, managing nearly $25 million in assets, is recognized as a leading LGBTQ-specific funder, committed to ensuring the health and safety of the community through strategic philanthropy.
This marks only the second occasion in the Foundation’s 15-year history that it has exceeded the standard payout rate, the first being during the COVID-19 pandemic to address urgent community needs. Scott Bennett, Chair of the Board of Directors, highlighted the Foundation’s role in stepping up when public support wanes, underscoring the importance of private philanthropy in filling the gaps left by diminishing public funds.
The increased distribution will benefit agencies within the Foundation’s network that have been directly affected by recent funding reductions and political targeting. As the sole LGBTQ-specific community foundation in the Southeastern United States, The Our Fund Foundation’s actions underscore its commitment to advancing equality and supporting the LGBTQ community through challenging times.
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