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About Just out. (Portland, OR) 1983-2013 | View Entire Issue (May 5, 2000)
I^m ¡i í Sinews 'KAREN M. SWEIGERT, MP MH I Obstetrics and Gynecology Equity’s hope is that the relationship with the Gill Foundation will continue and grow. Rural Organizing Project, Unity and Support Services, Phoenix Rising Foundation, Love Makes Family and the Sexual Minority Youth Recreation Center were among the nonprofits that received grants last year. While Equity considers all grant applica tions, Nelson says it is also Equity’s goal to dis tribute targeted grants every year. After the focal community is selected, applications are sent to groups serving that particular group. Homeless youths and the trans community have been tar geted in the past. “We don’t have a lot of money to give away,” Nelson says. “How we leverage that small amount of money to make a big impact is the challenge.” Equity’s endowment is $509,000. Originally the goal was to reach an endowment of $ 1 mil lion before the organization would begin to draw from the interest for operating expenses and additional grants. But Nelson says that goal is F lying S olo fficials from Peacock in the Park—an annual drag fest that raises money for the Audria M. Edwards Scholarship Fund, which bolsters the education goals of sexual minori ties—have secured their independence from Equity Foundation. Historically, the scholarship money raised at Peacock was administered by the Equity Foundation, which charges organizations a 10 percent fee. “Frankly, we just got tired of paying 10 per cent to Equity for doing what we felt we could do ourselves," explains Kimberlee Van Patten, co-director of Peacock in the Park, which net ted more than $18,000 last year. (Approxi mately $10,000 was distributed as scholarships in 1999.) According to its literature, Equity Founda tion acts as fiscal agent and provides advice, administrative support, auditing, accounting and government reporting. “The other value added that Equity gives is that it gives them some security,” explains Matthew Nelson, executive director of Equity Foundation. But Van Patten doesn’t think working with Equity was quite the right fit for Peacock. “I am very much a hands-on manager, and it was frustrating to me to work within a larg er organization," she says. “Ten percent is a large chunk of change to pay when you are unhappy with the arrangement.” When the Peacock committee found out the money held at Equity was not being invested, she says, the committee decided to go out on its own. “All of these years I had assumed that they were, at least, investing it for themselves,” Van Patten says. Equity was not investing the scholarship money at all, according to Van Patten. Early on, the Peacock organization felt it needed the credibility Equity could provide. But after eight years with Equity, the organiza tion felt it had established its own credibility, Van Patten says, allowing Peacock to strike O out on its own. Though the fiscal relationship is severed, Van Patten is grateful for the support Equity has provided during the transition. Newer groups typically don’t have the tax status to offer donors a deduction for their con tribution. Because of this, small nonprofits often hook up with larger organizations to administer their money. being reconsidered in light of last year’s gains on Wall Street’s bull market. Using some of that windfall could help Equity’s bottom line, he says. Nelson concedes that making change is not all about money. Equity’s new executive director wants the foundation to be an agent of “inspired philanthropy.” “What’s inspiring to me is that people can think about what it is that they want changed in the world,” Nelson explains. He says people figure out how they might be able to effect that change, then Equity can help pair those folks with other organizations and individuals to help see their vision realized. “I want Equity to be the conduit to bring those folks together,” Nelson says. 1130 N.W. 22nd, Suite 320, Portland, OR 97210 May 13-21 SAVÎN/5-S on Limited édition Bikes! “the only shop that comes to you” 4235 SE Woodstock Blvd. • Pollland. OR 97206 503-774-J531 ■ E quity F oundation can be reached, at 123 N.E. Third Ave., Suite 405, Portland, OR 97232; (503) 231'5759; equity@teleport.com; or on the Internet at www.equityfoundation.org. Latest In Gay Travet Fiction G More While some question a 10 percent fee, Nel son says 10 percent is standard. Seattle’s Pride Foundation, however, does not charge a fee for administering scholarship funds, according to its grants and scholarships manager, Steven Oliver. “We do it as a service, because we want to get as much money out there as possible,” Oliver says. Nelson admits that he’d like to be able to follow the Pride Foundation’s lead and provide free services, and he hopes Equity can eventu ally do so. But Nelson points to the size differ ence—Pride Foundation’s endowment is $1.75 million—to explain why Equity can’t yet. “We can’t offer the same services as some one over two times as big,” Nelson says. Equity does not invest the money held for scholarship funds, which concerns some folks. Interest earned on the funds is not paid to the depositing organization either. Funds come in and go out in a short period of time, according to Nelson. It would be too risky to invest the money under such time constraints, he says. Interest is not paid because “it would be an accounting night mare,” Nelson adds. Scholarship funds are placed in the general account with other nonendowment money. Last year, Van Patten secured 501c(3) sta tus for Peacock in the Park, which allows it to be in control of its own finances and to offer donors a tax deduction for their gifts. The organization is registered as Peacock Productions Inc. doing business as Audria M. Edwards Scholarship Fund. Van Patten says Peacock has a five-mefnber board of directors and administers its own scholarship funds. “Peacock in the Park has grown and can easily manage and do all of what it likes to do on its own. It probably was time,” Nelson says. Van Patten agrees: “It was simply time to move on, and we wish Equity all of the best in their continuing efforts to provide community service." ■ Reported by JONATHAN K1PP Editor’s Note: Marty Davis, publisher of Just Out, has placed the Jay Brown Scholarship Fund in the care of Equity Foundation. The scholarship will provide financial assistance for postsecondary education to members of the sexual minorities community and their families who plan to pursue a career in journalism. The fund was charged a 10 percent fee and received no inteTest payments dur' tng 1999. Happy Texas, Boys Don't Cry G More Gai-Pied 2544 NE Broadway Ph 331.1125 Rental G Sales on the latest titles! ► Great Discounts On Our Website: www.gaipied.com < I f Y ou ’ re L ooking F or S omeone W ho U nderstands , L ook N o F urther . You’re an individual with unique financial needs and goals. As hard as banks and other institutions try, traditional products simply are not right for you. Talk with Floreid Walker instead. As a Senior Financial Advisor, she’s earned the trust of individuals by treating them like individuals. With more than a decade of experience in Financial Planning, IRAs, Roth IRAs, Insurance, College Education Planning and so much more, she’s ready to help put your future in focus. 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