The YMCA Blue Ridge Assembly
Nonprofit Black Mountain Conference Center Benefits from CFWNC Partnership
The Blue Ridge Assembly has maintained two funds at CFWNC for more than a decade. Roger Hibbard, former Blue Ridge Assembly CEO, explained that prior to transferring assets to the Foundation, the board managed the funds themselves. “When we invested with The Community Foundation, we institutionalized our assets and placed them in the hands of experts,” said Hibbard. “By bundling our money with theirs we gained access to layers of supervision, diversity of investments, benchmarks and standards that a portfolio of our size could never command on its own. Simply put, the Foundation enables us to operate in a much better investment environment.”
Another benefit of maintaining funds with the Foundation, according to Hibbard, is that donors have access to sophisticated giving tools such as charitable remainder trusts and charitable gift annuities, that the Assembly could not offer and that put the needs and desires of donors first.