The Outer Banks Community Foundation and Advice 5¢, a bed & breakfast in Duck, NC, are delighted to announce a new charitable endowment that will make grants to improve and support the health and wellness of all people of the Outer Banks.
Funded by the proceeds of the Annual ADVICE 5K Turkey Trot, which is run each year on Thanksgiving Day, the Annual ADVICE 5K Turkey Trot Fund will assist nonprofits, public agencies, schools, and other charitable groups.
“The Turkey Trot is a tried and true family and community tradition — in 2013 we were filled to capacity in shortly over one hour’s time!” said Nancy Caviness, Race Director and Co-Proprietor of the Advice 5¢, a bed & breakfast, the event’s sponsor. “Over the race’s 18-year history, we have donated thousands of dollars in event proceeds to nonprofits across the Outer Banks. But as the 5K approaches its third decade, we wanted to find a way to make a more lasting impact on health and wellness in our community.”
As a permanent endowment, the Annual ADVICE 5K Turkey Trot Fund will remain invested forever with the Community Foundation as an endowment, with five percent of the fund awarded in grants in any given year. The remaining principal and earnings will be reinvested each year so that the fund can grow and make grants now and forever.
“Decades from now, even if the race is no longer taking place, the Annual ADVICE 5K Turkey Trot Fund will continue to grow and distribute grants for health and wellness projects on the Outer Banks,” said Lorelei Costa, Executive Director of the Community Foundation.
“Health and wellness is conceived of broadly,” said Caviness, “to include initiatives that attend to the health and wellness of our community and its residents. We also want it to support organizations that value inclusion of clients and volunteers of all backgrounds.”
The Annual ADVICE 5K Turkey Trot Fund will make its first grant(s) in 2014. Qualifying nonprofits, public agencies, schools, and other charitable groups may apply for a grant through the Community Foundation’s Community Enrichment Grant application, which is online at www.obcf.org. The Community Foundation board will select and award grant winners, within the parameters established by the race organizers.
Now in its fourth decade of philanthropy, the Outer Banks Community Foundation is a public charity that connects people who care with causes that matter. The Community Foundation manages 125 charitable funds for individuals and agencies, makes charitable grants, administers over 40 scholarship programs, and provides tailored services to help individuals, families, and businesses pursue their charitable goals. Since its founding in 1982, the Community Foundation has awarded over $5 million in grants and scholarships to local nonprofits and students across the Outer Banks.