Around the Miami Valley
Thu September 9, 2010
Dayton Foundation Recipient Of $26 Million
A Miami Valley organization that helps local non profits announced today that it's the recipient of 26 million dollars. The Dayton Foundation says it's the single largest gift in its 89 year history.
The gift was made by the late Virginia B. Toulmin, who passed away in June. It was over 30% more than the Dayton Foundation expected to receive. President of the Foundation, Mike Parks, says Virginia Toulmin's gift is also expected to be one of the largest philanthropic gifts nationally this year.
"Virginia was the most caring and humble person that you'd ever meet. She cared deeply about the arts, and children in need," says Parks, "Ultimately, her gift back to the community, she said 'Harry and I lived a wonderful life in Dayton, and we just want to give back to the community we've been so fortunate to be a part of,'"
For non-profits in the Greater Dayton area, it's good news. That means a roughly a $1 million increase a year and into perpetuity. Parks says it's also significant because the money comes in the form of an unrestricted fund, so that the Foundation can decide to use it where the need is the greatest in the community.
"It's the ultimate gift of philanthropy. You're saying I want to just give back. I want to help," says Parks.
The first grants will likely be awarded this year. Organization interested in the funding will still use the existing grant application process. Information is at daytonfoundation.org.