East Tennessee Foundation Exceeded Expectations in 2017
January 25, 2018
ETF Announces Forty-six Percent Increase in Assets
Nearly $38 Million in Grants Awarded
East Tennessee Foundation (ETF) hosted its 2017 Annual Meeting on January 23 at The Foundry. Paul Willson, ETF Board chair, welcomed a record number of East Tennesseans attending the luncheon and introduced the Foundation's board members and staff. Michael McClamroch, ETF President & CEO noted charitable giving milestones to nonprofit organizations throughout ETF’s 25-county region. In 2017, all previous giving records were broken and total assets increased by forty-six percent to reach $440 million. $113 million in new gifts were accepted, $38 million in grants were awarded, and $1.6 million in scholarships were committed.
The Foundation’s growth is due in part to establishing 26 new funds, including three new affiliate funds: Tellico Community Foundation, Loudon County Community Fund, and Oak Ridge Fund for Achieving Community Excellence. At this time, 437 Funds are held by ETF in addition to 9 supporting organizations.
“It’s great to see and announce these unprecedented numbers,” McClamroch said. “ETF is stronger and more capable than ever before at a time when our work is more critical and important than ever. Your generosity will continue to make all the difference.”
Since 1986, ETF has awarded $276 million in grants to the region’s nonprofit organizations. To see all of ETF’s county affiliate funds and ways we strengthen communities, visit www.etf.org.
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About East Tennessee Foundation: ETF is a nonprofit organization created by and for the people of East Tennessee. Serving more than 25 counties within East Tennessee, ETF consists of many donors joined together to make the region they love a better place. ETF seeks to build endowments, creating a permanent source of philanthropic funding for the East Tennessee region. For more information, visit www.etf.org.