The past year was the second worst on record for new-home starts in the U.S. Yet, at a time when simply making ends meet was an accomplishment, home building professionals doled out nearly $1 million in charitable grants in 2010 and contributed an additional $3,884,487 for funding future charitable grants through the Homebuilding Community Foundation (HCF). Grants were distributed among arts and cultural, educational, social service, and faith-based organizations, among others.
Describing itself as “a ‘give through,’ not a ‘give to’ organization,” HCF manages donor-advised funds for professionals in the home building industry. Working much like a private foundation, donor-advised funds allow philanthropists to deposit money that HCF manages and invests. Fund holders then allocate monies from a fund to their preferred charities. Donations can be made right away or the contribution can rest in the fund until the fund manager designates it for distribution.
“In this time when charitable organizations are more dependent on private donors than ever for the capital to continue their work and further their missions, our colleagues have come through for them,” said J. Roger Glunt, HCF president, in a press release reporting 2010’s generous numbers.
Since HCF was founded in 2001, housing industry professionals have contributed $62 million to donor-advised funds and have distributed $53 million of those funds to charities nationwide.
Claire Easley is senior editor, online, for Builder.
Learn more about markets featured in this article: Greenville, SC.