Knight Foundation Issues $300K Challenge Grant to Raise $1 Million MCF Endowment
In 2003, as part of an initiative to start, support and grow community foundations in its 26 newspaper communities, the Knight Foundation challenged the new Manatee Community Foundation’s Board of Directors to raise the first $ 1 million of endowment monies for Manatee County.
A $300,000 challenge grant was issued to MCF. Board members and community supporters of the new community foundation needed to raise $750,000 in endowment funds and operating dollars to receive the grant. The Knight Foundation gave MCF three years to raise the money. MCF successfully met the challenge in only six months.