By Todd Cohen
RESEARCH TRIANGLE PARK, N.C. –- The Triangle Community Foundation, which aims to triple the region’s philanthropic assets to $3 billion by 2017, already counts $229 million in new philanthropic assets – more than double the increase it had hoped to generate by 2002.
Those funds include $136 million in current or deferred assets committed to 42 new private foundations, plus $93 million in current or deferred assets committed to 243 funds at the foundation.
The foundation, which has raised $1.9 million to support its Catalyst Project, figures it has helped generate $697 in new assets for every $1 it has spent promoting philanthropy through publications, videos and work with entrepreneurs and professional advisers.
“We think we can do it by reaching out to those individuals and entities who control or influence the wealth of the region,” says Shannon St. John, the foundation’s president.
New Ventures gave $165,000 to the foundation in 1998, and another $65,000 this summer to help existing philanthropists define their family values and philanthropic goals, develop their philanthropic strategy and improve their effectiveness.
The foundation also has moved to Cambridge Hall at 4813 Emperor Blvd. across from the Sheraton Imperial off I-40, and changed its phone to 474-8370 and its donor-services line to 474-8363.