Most of us learned as children that sharing is a good thing. We didn't know we were practicing philanthropy. Since the Greeks coined the term, which literally translates as "love of mankind," philanthropy has been evidenced in nearly every religion and culture in the world. The sharing of effort to harvest, process and preserve foods is deeply routed in the traditions of Alaska's indigenous peoples.
The contemporary tradition of American philanthropy, or private giving for the greater good, predates the creation of our nation. Early colonists established universities like Yale and Harvard, hospitals and other institutions through private benevolence. After the Revolution, Ben Franklin came to epitomize the philanthropic spirit of the newly formed union. Franklin, while well known for his contributions to the formation of American government, recognized the limitations of taxation. He devoted the later part of his life to public service and through his will, which is an extraordinary document in the history of endowments, created funds in Philadelphia and Boston to last 200 years. Private philanthropy allowed him to set a direct course to achieve desired results.
By the 20th century, philanthropy came to be associated with large-scale giving by the very wealthy. Following the depression, many local banks organized "community chests" from which funds were given to those in need. In 1914, Fredrick Goff, a banker in Cleveland, devised a plan that has evolved into present day community foundations. He created a vehicle to build and hold several permanent individual charitable endowments within one foundation. Until community foundations, philanthropy through a foundation was usually reserved for the wealthy and permanent asset building through endowment was found mainly in larger institutions, such as universities and museums.
With the pooling of financial expertise and management, small "foundations" and "endowments" can be created efficiently. This is the premise behind a community foundation, and it was for those purposes that the Homer Foundation was established in 1991.
The Homer Foundation works with donors large and small to make giving easy and effective, prudently managing the assets, and distributing the earnings back into the community. The Homer Foundation currently manages more than $1 million in assets, and since inception has distributed more than $750,000 through grants and scholarships within our communities. For 14 years the Homer Foundation has been an active partner in the development of philanthropy on the southern Kenai Peninsula.
Other Alaska communities have recently organized their own community foundations, and there may some day be a network that might bring even greater efficiencies.
And then, and to tie this piece back together, there is the Rasmuson Foundation.
The Rasmuson Foundation was established by Jenny Rasmuson in 1955 to honor her late husband, "E.A." Rasmuson. Today the foundation distributes approximately $20 million annually to ensure that basic human needs are met and that the quality of life for all Alaskans is enhanced. They have supported Homer area projects such as the new Homer Public Library, the hockey rink, the Seldovia Village Tribe Health Center, the Homer Senior Center renovation and expansion, and furnishings for the new college expansion.
The Rasmuson Foundation provides statewide leadership in the field of philanthropy by investing their "social capital" in Alaska, educating other funding foundations, agencies, and corporations of the needs and opportunities unique to Alaska, and successfully leveraging support for major projects throughout the state.
In addition, the Rasmuson Foundation staff provides leadership by nurturing and mentoring emerging Alaska community foundations, like the Homer Foundation, so that we are viable partners in "growing" philanthropy in Alaska.
Philanthropy is the golden thread of a strong community.
Joy Steward is a 25 year resident of Homer, with 18 years experience working in Homer's vital nonprofit community. She has been associated with the Homer Foundation since inception, as a volunteer, board member, and for the last five years, as staff.
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