History
In 1972, the foundation was established with $10 million in assets, combining the funds of the private Fremont Foundation with other charitable funds such as Harry Williams, Frank Daniel Gerber, Dan & Dorothy Gerber, Marion & Charles Gerber, Gussie Gerber, Earle Johnson and William & Colleen Mee.
Between 1972 and 1994, the foundation grew its assets from $10 million to $65 million, granting approximately $2.5 million annually. In August 1994, the sale of the Gerber Products Company to Sandoz (now Novartis), of Switzerland, nearly doubled the assets of the foundation, which at the time owned 1.8 million shares of stock, bringing its total assets to $109 million overnight. From 1994 through the end of the century, the Foundation continued to grow, reaching almost $200 million in assets. Grant awards total approximately $10 million each year.
Since 1972, the Foundation has received $56 million in gifts and made $146 million in grants to benefit the Newaygo County area, a 261% return on donors’ dollars. In 2008, the Foundation made grants of $10.6 million.
Read more about this topic: Fremont Area Community Foundation
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