Our Community Foundation reached a major milestone this month when we exceeded $50 million in total assets. An essential factor in reaching this $50 million milestone is the recent sale of Citizens State Bank, a small community bank with branches in Ouray, Ridgway, Naturita and Silverton. Dave Wood, Citizens State Bank and community philanthropy are synonymous in the communities his bank served. Extremely generous during his lifetime, Dave included his ownership position in the Bank as one of several assets in his generous estate gift to the Western Colorado Community Foundation.
WCCF Board Chair Ann Brach commented on this milestone: “Our Foundation has experienced remarkable growth over the past eighteen years with a steady increase in both number of donors and the size of their endowment gifts. $50 million in managed assets is truly significant and our organization is extremely proud to be celebrating this milestone.”
The Dave and Mary Wood Fund is an endowed donor-advised fund that supports a number of organizations and projects across Western Colorado. Dave and Mary were leading patrons of music and the arts, but also had many other community interests.
Our Community Foundation serves seven counties in Western Colorado, including Ouray County. We distributed almost $2.1 million in grants and scholarships in 2015. As our endowed assets grow, we will be able to invest more dollars to benefit our communities, year after year.