Non-profit powerhouse gives $400,000 in grants
The island’s “significant dependence on charitable giving” was met last year with almost $400,000 in grants from the Bermuda Foundation.
The charity’s report on the 2023-24 fiscal year highlighted that its grants, combined with “donor-advised giving”, delivered almost $4 million to the charitable sector.
Key areas included $132,000 for youth development and human and family based services, while educational enrichment and access to higher education were boosted by $105,000.
Mental health programmes, including counselling and drug treatment, were given $50,000, while housing programmes were allocated $25,000.
A total of 52 non-profit organisations were awarded grants.
The charity, which was founded in 2013 and officially launched in January 2014, said that its initially relatively unknown model of a community foundation for Bermuda was meeting its goals, although there was so much it could not have predicted.
The annual report added: “What enables us to deliver on this undertaking is the ongoing building of a lasting source of funds, an endowment, to support the community, through the work of the experts in the non-profit organisations.
“This ‘forever fund’ received a significant boost in 2023-24 thanks to an extraordinarily generous donor.
“The promise of $2 million — to be matched for a total of $4 million — puts the BF operational budget on firmer financial footing for years to come.”
The foundation noted that community challenges ranging from mental health, gangs and drugs to inequality, poverty and climate change had brought key issues to the forefront of the national agenda.
Its audited accounts, along with details on grants and distribution, can be found online at the organisation’s website, www.bermudafoundation.org.
• To read the Bermuda Foundation’s latest annual report in full, see Related Media
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