The Fund for Greensboro
Ensuring our Community’s Future
The Greensboro Association is a recognized and trusted community organization with an 80-year history supporting full and part-time residents of Greensboro. The work of the Greensboro Association is governed by a volunteer Board of Trustees of 21 full and part-time residents. The Greensboro Association is a 501(c)(3) organization.
The mission of the Greensboro Association is to conceive, advance, and support village initiatives and organizations that enhance our community and to protect Caspian Lake and its surrounding environment for both full and part-time residents of the town of Greensboro.
Consistent with this mission, the Greensboro Association launched the Fund For Greensboro as a funding and advisory resource that invests in social, educational, municipal and environmental projects that are important to the Town of Greensboro and its residents.
Why the Fund For Greensboro?
Greensboro people share a common love of place. Its magic is embodied in our people, natural environment, rural landscapes, pristine Caspian Lake , vibrant arts community and food economy.
Yet, community challenges and unanticipated future threats remain;
- The NEK’s stunted economy limits the quality of life of our year-round residents
- Our youth lack the educational resources to face the new economy
- Basic human needs of some of our neighbors remain unfulfilled: hunger, security and lack of shelter may be out of sight but still exist.
- Our lake and environment are threatened by declining water quality, invasive species, unregulated recreational use, and inappropriate development policies.
The Greensboro Association launched the Fund for Greensboro to generate financial resources with which we may try to address these and other issues today and in the future.
The Community Fund
The mission of the Community Fund is to support social, cultural, educational, health, infrastructural and environmental needs via grants that help address current and emerging opportunities and challenges in the town of Greensboro, Vermont.
The Community Fund has two components: Endowment and Reserve.
- Endowment: Upon reaching and maintaining a minimum corpus balance of $100,000, the Endowment Fund will generate an annual target distribution of 3%-4% to be allocated through the annual grants program.
- Reserve: The Reserve Fund provides annual grants program support and short-term bridge and emergency funding for unforeseen needs. The Reserve Fund is restricted to social, cultural, educational, health care and infrastructural needs benefiting residents of the Town of Greensboro.
Grants are recommended by the Fund for Greensboro Grants Committee – a six person committee representing the diverse interests in our community. The Grants Committee will get input from the Select Board and leaders in Greensboro to understand needs and priorities as part of its efforts in assessing grant application and setting funding priorities.
What does the Community Fund Support?
Grants in 2016 totaled approximately $14,000. The Endowment will help expand the grants program and its impact. In 2016, grants of up to $1,000 were awarded to the following organizations:
- The Greensboro Free Library
- Wonder & Wisdom
- 4 Season Early Learning
- Hardwick Rescue Squad
- Greensboro Volunteer Fire Department
- Heartbeet Life Sharing
- Greensboro Historical Society
- Lakeview Elementary School
- Greensboro Nursing Home
- Greensboro Land Trust
- Hardwick Food Shelf
- Greensboro Ski Trails
- Greensboro Cemetery Committee
- Circus Smirkus
- Greensboro Arts Alliance
- Memorial Gardens
- Caspian Lake Beach Committee
- Greensboro Recreation Committee.
Through the Reserve Funds, we can also support bridge funding needs for a project important to Greensboro residents when such funding may not otherwise be available on a timely basis.
The Lake Fund
The Lake Fund has been in place within the Greensboro Association for over 10 years. The Lake Reserve is designed to provide the ability for a rapid response to threats that may impact Caspian Lake and its surrounding environment, including eradicating invasive species.
“Invasive species are nonindigenous plants, animals, algae, fungi or pathogens – disease causing organisms like viruses and bacteria – that threaten the diversity and survival of native species or the ecological stability of infested ecosystems, or commercial, agricultural or recreational activities dependent on these natural resources. They are a form of biological pollution. “
“At least 52 aquatic non-native species are present in Vermont. While many of these species have not become invasive, a significant number have, including Eurasian watermilfoil, zebra mussels, water chestnut, and purple loosestrife. A portion of the state’s lakes and rivers have been impacted by invasions of these exotic pests, but many more are still free of aquatic invasives.“
– Department of Environmental Conservation
Preventing new aquatic invasive species from being introduced into Caspian Lake is critical. Our programs help prevent the spread or introduction of invasive species which is the best and least costly means of protection available.
Fund For Greensboro Governance
The Greensboro Association Board of Trustees has 21 Members, with 5+ Voting Residents. Officers include the President, 2 Vice Presidents, Treasurer, and Secretary. The Committee structure manages the work of the association. For the Fund For Greensboro, there are three primary committees:
- Finance Committee manages financial controls, donor restricted allocations and donor acknowledgements.
- Fund For Greensboro Committee oversees the administration of the Endowment Fund, including fundraising and developmentand together with the Lake Protection Committee, oversees the Lake Fund.
- Grants Committee Understands community needs, reviews grant applications and recommends grants from the Endowment and GA community grant funding budget.
Annual Grants are funded by a combination of current year Greensboro Association Reserve fund allocations (from annual dues operating funds and Reserve Fund donations) as well as a 3%-4% annual appropriation from the Endowment Fund 1.
The Grants process is conducted as follows:
- The Finance Committee, with input from the Fund for Greensboro Committee and the Board of Trustees, recommends an annual budget for the Endowment Grants Program based on both Endowment funding (if any) and GA annual funding. Endowment funding is restricted to a maximum of 4% of capital as approved by the Board of Trustees.
- Applications and guidelines may be found online on the GA website, and may be submitted at any point prior to March 1.
- Community needs are reviewed during the Spring of each year (and at other times by exception) by the Grants Committee, who considers needs in light of the Fund mission.
- The Grants Committee makes recommendations for funding to the GA Board of Trustees and the GA Board of Trustees reviews and approves the grant funding recommendations.
The Fund For Greensboro Committee will seek to raise capital or replenish Reserve Funds that are used for emergency or bridge funding initiatives.
Lake Fund Process
The Fund for Greensboro Committee and the Lake Protection Committee, with approval of the GA Board of Trustees, may authorize use of funds from the Lake Reserve Fund.
- Emergency funding initiatives and requirements shall be recommended by the Lake Protection Committee and the Fund For Greensboro Committee for approval by the Board of Trustees
- The Fund For Greensboro Committee will seek to raise capital or replenish funds that are used for emergency or bridge funding initiatives.
- The GA may also serve as an advisor to support the emergency issue or strategic requirement.
Opportunities for Donors
All gifts are gratefully accepted. Gifts may be designated to The Fund for Greensboro Community Endowment, Community Reserve or to the Lake Reserve Fund.
- We welcome the opportunity to work with donors to focus gifts on particular interests.
- Gifts of $100,000 or more may be named and designated for a specific purpose as approved by the Board of Trustees.
- The 1781 Society recognizes lifetime gifts and bequests of $10,000+
Opportunities for gifting and donations include:
- Gifts of cash and stock
- Bequest and trust designations
- IRA, 401K and life insurance policy designations
- Tangible property and real estate
- Additional donations included with the Association’s annual dues letter
Donations are made to: The Greensboro Association Inc., PO Box 59, Greensboro, VT 05841, Employer ID # 30-0796097. We are a 501 (C) (3) and classified as a public charity.