July 1, 2024
CFO’s partnerships funnel millions in grant dollars to local nonprofits
On June 24, the Community Foundation of the Ozarks and the Jeannette L. Musgrave Foundation granted $1.17 million through several grant programs to nonprofits serving the Springfield area. The grants are the latest example of outside funders relying on the CFO’s grantmaking expertise and connection to the regional nonprofit community to make sure their charitable dollars are granted most effectively.
In this instance, the CFO’s programs team collaborated with the Musgrave Foundation’s selection committee and U.S. Bank Private Wealth Management to design grant programs that support high-impact and capital projects for nonprofits working within the parameters of the late Mrs. Musgrave’s philanthropic passions.
“The CFO has done a great job driving the communication between the organizations so that we’re not just handing something out, but truly helping people and investing in those families and youth.”
In the past twelve months, the CFO has partnered with multiple agencies and private foundations to maximize impact and fund management:
- Earlier in June, the Springfield Regional Arts Council announced grants totaling $215,000 from programs that we administered with funding from the Musgrave Foundation, the CFO and the City of Springfield’s hotel/motel tax.
- In April, our long-running partnership with the Louis L. and Julia Dorothy Coover Foundation, a private foundation managed by Commerce Trust, distributed a total of $300,000 to rural communities and schools — adding to more than $8 million granted over the years.
- A month before that, we administered nearly $55,000 worth of grants to seven Ozarks nonprofits working for the conservation of natural and cultural resources, courtesy of our partners at the L-A-D Foundation.
- In January, and in partnership with Children’s Trust Fund, we granted $670,000 to 12 nonprofits addressing child abuse and neglect in our service area.
- In December, we issued $130,000 in partnership with Delta Dental of Missouri to 13 organizations improving children’s dental health in rural communities across central and southern Missouri.
Some funders work with the CFO for its vast experience with the Springfield nonprofit community. Others tap the CFO’s familiarity with rural Missouri across a 62-county service area served by 55 regional affiliate foundations. Whatever the reason, external funders can affordably and effectively distribute charitable dollars by relying on the CFO’s grantmaking expertise and efficient online tools.
Becky Bonner of U.S. Bank Private Wealth Management, which stewards the assets of the Musgrave Foundation, spoke of the benefit of partnering a private foundation with the CFO’s resources. “The CFO has done a great job driving the communication between the organizations so that we’re not just handing something out, but truly helping people and investing in those families and youth.”
More about the CFO’s grantmaking partnerships in this video from our 50th anniversary.
During the Musgrave Foundation presentation in June, recipients had the opportunity to showcase their missions and projects to a room of peers.
“We serve roughly 5,000 kids per year and our waitlist taking in new kids is, right now, at 400,” said Rachael Salveter, director of development at the Boys & Girls Clubs of Springfield, to the packed room. “What this grant means is that we will not only retain the staff we currently have, but that we will maintain their training and train new staff to come onboard — because the only way to move kids off the waitlist is having irrationally passionate adults to teach and care for them.”
Salveter’s words were not the only ones delivered through brimming tears. The room was full of kindred spirits, working to serve different needs but united by a dedication to improve the lives of others — work made possible through collaborative philanthropy.
