Money Minders Join Forces for Charity
by January 20, 2003 12:00 am 63 views
Northwest Arkansas Community Foundation and Morgan Stanley have formed a partnership. The Charitable Neighbors Program will offer support for Morgan Stanley’s private clients in creating, managing and operating donor-advised funds. The Charitable Neighbors Program “will bring together the charitable interests of individuals with the community expertise and grant making resources of NWACF and the investment expertise of Morgan Stanley,” according to a press release issued by NWACF.
Suzanne Ward, NWACF executive director, said the organization has always stressed that it’s not in competition with the financial sector. The main goal of NWACF has “always been the promotion of philanthropy throughout the region,” Ward said.
“It frees us up to focus more intensely on our clients while the Community Foundation handles the grant making,” said Scott Shepherd, first vice president of Morgan Stanley of Rogers.
NWACF’s endowment totals more than $4.6 million. It has 49 funds and has given out more than $1.5 million.