These days, most of us are pretty happy to be holding onto our jobs, whatever they may be. But there’s a group of employees in our area who do the kind of work we’d probably all love to do. They spend their days helping others spend money.
They’re the employees of Communities Foundation of Texas (CFT), which celebrated its 50th anniversary with a move to the Preston Hollow area earlier this year. So what does this new neighborhood organization do? Well, things like aiding a children’s hospital, feeding the homeless or creating reading programs in area schools.
CFT is a non-profit organization that helps donors fulfil philanthropic goals. They do it in a variety of ways: by educating donors on community needs, setting up endowment funds, and monitoring the use of funds given to an agency.
Cheryl Unis Mansour, a Dallas native and graduate of Ursuline Academy, is CFT’s vice president of external affairs. She originally thought her work at the foundation would be temporary, but more than 10 years later, she’s still happy to be there. “It truly is rewarding to help people get to the needs of the community,” she says. “The people I meet are wonderful, and none of them has the same kind of gift to give or reason for doing it. No two days are alike, because no two donors are alike.”
CFT employees work closely with donors to determine not only where money should be spent, but how. “We ask them, ‘Are you trying to grow the fund for the long-term, or do you want the grant making to go quickly?’” Mansour says. “We also help them think through the process. If they want to help children, for example, we ask, do they want to help with medical needs, education, inner city kids, or maybe all those things.”
But after a donation is made, it belongs solely to CFT. “The donor can recommend the grant distributions made from the gift, but the final decision rests with the board of trustees. They have to vote in their best judgment how to carry out that donor’s intent,” Mansour adds.
With that much power and responsibility, choices for board placements are crucial. Eleven area civic and business leaders make up the board of trustees, serving five-year terms and receiving no pay for their efforts. More than half of them live in the Preston Hollow area, including Ruth Altshuler; Charles Wyly, Jr.; Philip Montgomery, III; Milton Levy, Jr.; Linda Brack McFarland and Ebby Halliday.
Together with CFT’s 25 employees, the board manages more than $550 million in donations, through approximately 750 funds. In 2002, CFT distributed approximately $61 million in grants. Some of its recent gifts include $5 million for a research program at Baylor Research Institute, $1.5 million for a child advocacy legal clinic at Southern Methodist University, $50,000 to Goodwill Industries and $500,000 to Dallas Children’s Theater.
Based on both grants made and asset size, CFT is one of the top 10 foundations of its kind in the country. But despite those large numbers, it isn’t just for those who have so much money they don’t know what to do with it all. Its minimum fund amount is $10,000, so it can help even regular folks with a heart for giving.
