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WALTERSDORF / HENSON
$10 MILLION CHALLENGE

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The Waltersdorf Henson Endowment Challenge Campaign continues to be very successful and is running ahead of schedule for its December 2010 conclusion. This date is the deadline for the sixteen participating organizations to achieve their fundraising goals. In March, a contribution from Citicorp Credit Services made the Magnolia Foundation Scholarship for the benefit of the University System of Maryland at Hagerstown the fifth organization to achieve full funding; the others are St. James School, Hagerstown Community College Foundation, Rotary Club of Hagerstown Sunrise Foundation, Inc., and the Washington County Museum of Fine Arts.

To date, the Foundation has distributed $2,125,090 in matching dollars to the 12 organizations that have reached two-thirds of their fund-raising goal. When the Campaign is finished, over $5 million in matching money will have been deposited into the sixteen endowment funds. Beginning in 2011, this will result in over $500,000 per year being distributed back to those sixteen organizations in grants for operations, programs or scholarships, touching every facet of the non-profit community. Already, the Foundation has distributed over $140,000 in grants to the participating agencies.

The Foundation is forever indebted to the generosity of the Richard A. Henson Foundation and the John M. Waltersdorf Family for providing the matching dollars and making this Campaign possible through the Community Foundation of Washington County MD, Inc.

About the Challenge
The Community Foundation of Washington County, MD has partnered with the John M. Waltersdorf Family and the Richard A. Henson Foundation to provide a $5 million, one-to-one match to funds raised by the 16 agencies participating in the challenge. The result will be that $10 million in endowment dollars will be injected into efforts of local nonprofit agencies over the next 5 years.

The Community Foundation was named as a required participant in the Endowment Challenge, and has established a goal of $500,000. This endowment will directly impact the community through the Foundation's annual unrestricted grants, hopefully providing $100,000 per year, a 300% increase over current distributions. The Community Foundation is proud to be in the company of the following deserving agencies in this monumental opportunity:

Antietam Healthcare Foundation has been accepted with a fundraising goal of $800,000. This endowment fund will be used for unrestricted opportunities to expand funding for new initiatives that will improve the Hospital's services.

Chesapeake Wildlife Heritage has been accepted with a fundraising goal of $100,000. This endowment fund will be used for unrestricted operating expenses, including organizational expenses, project costs, and/or educational programs.

Hagerstown Community College Foundation has been accepted with a fundraising goal of $800,000. This endowment fund will be used for unrestricted scholarships and a Teaching and Learning Excellence Fund.

Hagerstown YMCA has been accepted with a fundraising goal of $375,000. This endowment fund will be used to support membership and program opportunities for those who otherwise could not afford to belong.

· Hood College has been accepted with a fundraising goal of $100,000. This endowment will fund scholarships for qualified students who want to attend Hood College from within the service area of the Community Foundation, with an emphasis on those who live in Washington County.

· Magnolia Foundation/Univeristy of Maryland has been accepted with a fundraising goal of $212,500. This endowment will provide funds for scholarships for qualified students from within the Community Foundation's service area attending classes at the University System of Maryland at Hagerstown, with preference given to Washington County residents.

· The Maryland Symphony Orchestra has been accepted with a fundraising goal of $137,929. This endowment fund shall be unrestricted, but will be directed to support the MSO's artistic programming budget and the youth education program.

· Mercersburg Academy has been accepted with a fundraising goal of $212,500. This endowment fund will provide need-based financial aid to students at Mercersburg Academy who reside in the Community Foundation's service area.

· REACH, Inc. has been accepted with a fundraising goal of $212,500. This endowment will support the general operating expenses of REACH, Inc.

· Rotary Sunrise Foundation has been accepted with a fundraising goal of $100,000. This endowment fund shall be unrestricted, and used to benefit the charitable interests of Rotary Club of Hagerstown, Sunrise.

· St. James School has been accepted with a fundraising goal of $800,000. This endowment fund shall be restricted to scholarship support for students residing within the service area of the Community Foundation, with an emphasis on Washington County.

· St. Maria Goretti Fund has been accepted with a fundraising goal of $255,000. this endowment fund shall be restricted to scholarship support for students residing within the service area of the Community Foundation, with an emphasis on Washington County.

· Star Community has been accepted with a fundraising goal of $212,500. This endowment fund shall be unrestricted and used to benefit the charitable interests of Star Community, Inc., with primary emphasis on the Ventures and Equestrian Programs.

· United Way Foundation has bee accepted with a fundraising goal of $100,000. This endowment shall be unrestricted and be used for the chartiable purposes of the United Way of Washington County, Maryland.

· Washington County Museum of Fine Arts has been accepted with a fundraising goal of $100,000. This endowment fund shall be unrestricted and used for the charitable purposes of the Washington County Museum of Fine Arts.

These endowment funds are permanently earmarked for those organizations. All monies will be held and managed by the Community Foundation. The perpetual revenue stream, produced by the total $10 million in endowments, will contribute to the financial viability of our non-profit community.

This incredible opportunity came about through a generous offer from the Richard Henson Foundation. According to Steve Farrow, Vice Chairman of the Henson Foundation, the challenge was a great way to continue the charitable interests of longtime county resident, Richard Henson. The requirement was that Community Foundation find another donor here in Washington County to match the Henson money to establish the $5 million grant. John M. Waltersdorf, along with his late wife Margaret, has always taken great interest in the Washington County community, and has generously provided resources to area nonprofits to spark initiatives through which contributions can leverage the greatest good. Mr. Waltersdorf feels very strongly about the good leveraged through endowments, which provide a stable source of income in perpetuity for the beneficiary, rather than a spendable principal which could disappear quickly.

You can support the efforts of any of these agencies at any time with a donation of any amount to the Waltersdorf Henson Endowment Challenge. Call the Foundation offices for details.