Wilmington funder joins statewide foundation

October 13, 2009

WILMINGTON, N.C. - In an effort to grow and leverage its resources, the Community Foundation of Southeastern North Carolina is moving under the umbrella of the North Carolina Community Foundation.

The Wilmington-based funder, which manages about 100 funds totaling more than $4 million in assets, will retain its name and its board of directors, but will be an affiliate of the larger statewide foundation.

"The structure of the North Carolina Community Foundation will allow our foundation to meet community needs by maintaining  local leadership and ensuring that local dollars stay local," Ned Barclay, board president for the Community Foundation of Southeastern North Carolina, says in a statement.

The foundation will join 59 other affiliates of the Raleigh-based North Carolina Community Foundation, which manages a total of more than $100 million in assets for almost 1,000 endowment funds.

Together, the affiliate foundations serve 65 counties across the state.

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