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Foundation for the Carolinas growing

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Michael Marsicano

Michael Marsicano

CHARLOTTE, N.C. – Foundation for the Carolinas posted a strong year in 2010, with donor contribution to the foundation more than doubling, grants from its fund growing by more than half, its endowment posting a 13.2 percent return, and its assets growing to an all-time high.

Donor contributions o the funds at the foundation grew to $212 million in 2010 from $101 million in 2009, while grantmaking from those funds grew to $139 million from $90 million.

The foundation’s long-term endowment portfolio, where most of the foundation’s funds are invested, posted a 13.2 percent return.

And after declines in 2008 and 2009 during the recession, the value of total assets owned and represented under management at the foundation grew to $910 million, an all-time high.

Those kinds of financial results “enable our fund holders to support our region’s nonprofit organizations and all the important work they do,” Michael Marsicano, the foundation’s CEO and president, says in a statement.

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