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Recent News
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Foundation Sets Record for Fundraising Success Surpassing 2005's record-shattering performance proved to be a formidable, yet achievable, challenge. Thanks to the generosity of nearly 3,000 donors and hundreds of dedicated volunteers, the Foundation raised over $8 million in cash and cash equivalents during 2006.
This represents an increase of $1 million over 2005's results, and $3 million more than what was raised in 2004, prior to adopting a new fundraising strategy and enhancing the Foundation's professional staff. The performance translates to a 60% increase in revenues during the past two years, compared to less than 10% in the same period for the average non-profit organization.
Performance in 2006 is especially noteworthy given that 2005 results included over $1 million in what some called "non-repeatable" gifts — contributions made in the wake of hurricanes Katrina and Rita. Not only did the Foundation convert hundreds of these "one-time" donors into "repeat" contributors, but it increased gifts of cash and cash equivalents by over 15%, triple the national average for non-profit growth in 2006.
In addition to the $8 million received in 2006, Foundation staff solicited and secured a $2 million charitable remainder trust (CRT). CRTs enable donors to contribute property like securities, artwork or real estate, but receive income from these assets for a specific period of time. They enable donors to avoid estate and capital gains tax, provide for loved ones, and receive immediate tax deductions. In this case, a donor who was rescued by the Coast Guard (and wishes to remain anonymous), established a trust to benefit Coast Guard units after he and his wife pass away. At that time, the trust could be worth significantly more than $2 million.
Counting this CRT, the Foundation actually secured $10 million in 2006 — twice what it raised in 2004. Fewer than 1% of the 1.6 million American charities matched this growth.
"Our benefactors, volunteers and staff can be proud of what they accomplished in 2006," said CGF Chairman Ross Roeder. "Their contributions enabled the Foundation to increase the number of scholarships awarded to children of enlisted personnel," he added. This year, 60 young people are attending the college or university of their choice, thanks to generous Foundation scholarships. Likewise, over 1,200 Coast Guard members will receive grants to advance their careers and pursue baccalaureate degrees. In addition, almost $1 million worth of performance-enhancing equipment will be provided to sea- and land-based units, and academic and athletic excellence will be strengthened at the Coast Guard Academy.
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