Foundation Accepts $21 Million from Weavers to Support Nonprofits

JACKSONVILLE, Florida – June 22, 2007 – The Community Foundation in Jacksonville is honored to accept a gift of $21 million from J. Wayne and Delores Barr Weaver, local philanthropists and business and community leaders.

At the request of the Weavers, the gift will be divided among 38 area nonprofit organizations to support operating expenses over two years and to establish endowments for the organizations at The Community Foundation. About $10 million of the gift will go to support organizational endowments and the balance will be paid out in operating grants over the next two years.

“This gift illustrates the Weavers’ deep commitment to Jacksonville and the community organizations that contribute greatly to our quality of life,” said Nina Waters, president of the Foundation. “We are pleased to have been able to assist them in achieving their philanthropic goals.”

The gift is a personal gift from the Weavers and not associated with other giving vehicles used by the Weavers, including the Jacksonville Jaguars Foundation and Weaver Family Foundation.

The gift comes at a critical time, as many nonprofits now face significant funding cuts stemming from the state-mandated rollback of property taxes that was approved by the Legislature last week. The City of Jacksonville anticipates having to cut spending by more than $50 million in fiscal 2008, and much of those cuts will be born by community organizations that provide services on behalf of government.

The Weavers’ decision to make the gift, however, was made long in advance of the property-tax rollback debate.

“The scale of individual grants and the overall scope of support are given with the intent of providing a significant infusion to agencies now, rather than multiple gifts spread over an extended period,” the Weavers said. “This is intended to help ensure sustainability of quality services, while allowing agencies to have the resources and ability to plan for the viability of their long-term future to continue essential programs.

The Weavers chose to make their gift through The Community Foundation for a number of reasons. Delores Barr Weaver has a strong relationship with the Foundation, having served as a trustee from 1996-2005. The Community Foundation provided an efficient and effective vehicle through which to establish endowments for the organizations. And the Foundation was equipped to accept the Weavers’ gifts of appreciated stock, which many nonprofits are not equipped to handle.

“In many respects, the Weavers’ gift illustrates the great benefits of The Community Foundation,” said Harvey Schlesinger, chairman of the board of trustees. “The Foundation has the managerial and financial agility – and expertise – to allow donors to structure their philanthropic giving in highly customized ways that bring the greatest benefit to the community.”

The Weavers selected organizations based on past contributions to enhancing the quality of life of people in the area, particularly vulnerable populations, and for their ability to provide outstanding health, educational, social, housing, and cultural services to current and future generations. Grants are provided based on what the individual agency identified as primary areas of need and opportunities for quality service and sustainability. 

A complete list of grantees is below.

The Community Foundation in Jacksonville, Florida’s oldest community foundation, works to stimulate philanthropy to build a better community. It has assets of $125 million and has made grants in excess of $118 million since 1964.