2008 Message from the Director

Your Community Foundation – Increasing Local Philanthropy

In 1953, a small group of Corvallis Rotarians, led by Percy Locey, decided that a separate organization formed from the Rotary Club should be created to help the children of Benton County. In 1954, a three member committee led by Dick Hanson, then President of the Rotary Club of Corvallis, worked with attorney John Thomas to create “The Benton County Foundation.” The first gifts to support the Foundation were provided by Bob Johnson, owner and publisher of the Corvallis Times for $1,000, and the Rotary Club provided $1,500. The BCF was started with $2,500.

Since that time, the Foundation has grown dramatically and the impact of the Founder’s foresight and generosity is really making a difference today. In 2003, the assets of the BCF were just over $5 million and the distribution of dollars to local non-profits and students totaled approximately $115,000. Since then, the Foundation has grown the total assets under management to over $11.5 million and this year, the board authorized a distribution of 5% which provides the ability for the Foundation to distribute over $500,000 in 2008.

Another significant accomplishment this past quarter was the completion of the transfer of approximately $2.5 million from the OSU Foundation to the BCF along with the responsibility for managing the selection process for eight “OSU Opportunity Scholarships.” The selection committee included Jo Anne Trow, Erin Haynes, and Rob Gardner and in March they awarded over $105,000 in scholarships to 35 minority students attending OSU this fall. Thank you to the OSU Foundation for putting their trust in the BCF to manage this important on-going process.

It is an honor to manage over 190 endowment funds for individuals as well as local organizations. And it is a goal of the Foundation to continue to grow – especially our unrestricted “Community Fund” – so that we can serve the growing needs of our youth and Benton County community.

Thank you for your support of the Benton County Foundation!

Dick Thompson
Executive Director