The Community Foundation of Huntsville/Madison County was recently selected to manage a fund for The CornerStone Initiative to provide for it ongoing support.
According to Community Foundation Board Chairman Dr. James Gilbert, “We are honored to be of assistance to The CornerStone Initiative in this way. We applaud their board of directors, chaired by Bruce Martin, for managing, with careful planning and financially sound stewardship, to set aside funds for a rainy day.”
The CornerStone Initiative Executive Director Derek Lane commented, “We are very pleased to be partnering with the Community Foundation to further secure our financial foundation so that we can fulfill our vision of facilitating collaborations, mobilizing resources, and building the capacity of nonprofits and agencies serving the communities of North Alabama.”
Lynne Berry, Executive Director of the Community Foundation, remarked, “The CornerStone Initiative will receive several benefits from this investment with the Community Foundation. Funds that we manage for non-profits are listed on our printed materials and on our website and are mentioned in our presentations. Our management fees are very competitive and there will be educational and promotional opportunities to grow the fund. Most importantly, a fund increases the stability of a non-profit and strengthens the effectiveness of their strategic planning. By delegating the administrative tasks of managing endowed funds to the Community Foundation, non-profits are free to focus more energy on fundraising, developing donor relationships, and fulfilling their mission. We congratulate The CornerStone Initiative on their business acumen and professionalism and look forward to working with them to increase this asset.”