Foundation Gives Its First Grant in Carroll County
by June 15, 2001 11:13 am 86 views
The Northwest Arkansas Community Foundation on Friday awarded its first grant in Carroll County.
Springdale-based NWACF gave $5,000 to Lane House, an after school program in Eureka Springs. The foundation operates in connection with the $150 million CommunityCare Foundation Inc. of Springdale.
The Lane House grant was recommended by the Northwest Medical Center Auxiliary Fund that was established within NWACF and later approved by that entity’s board of directors.
The grant will help fund Lane House’s Summer Youth Arts Program and serve youth aged eight to 18 in Carroll County.
In January, the foundation awarded five grants totaling $48,600 to local nonprofit organizations. During 2000, it awarded 37 grants totaling $991,025 to nonprofits in Benton and Washington Counties.
A publicly supported, grant-making charity, NWACF is structured as a group of endowed funds. It was founded in 1998 as the Community Foundation of Bentonville/Bella Vista and was expanded to include Washington, Benton, Madison and Carroll counties.
CommunityCare, which distributed another $1.86 million in May, is a product of the November 1998 sale of Northwest Health Systems Inc. of Springdale to Quorum Health Group Inc. of Nashville, Tenn. Northwest Health changed owners again Oct. 19, when Quorum was bought by publicly traded Triad Health Partners Inc. of Dallas for $2.4 billion. But the resale had no effect on the independent local foundation.
Established to benefit northwest Arkansas, CommunityCare entered its first year with a war chest of $140 million from the 1998 sale. That money was invested with the Northwest Bank of Minneapolis and has since grown to more than $150 million.