Earlier this fall, Chairman Steve Stephens announced the creation of a new community foundation in San Angelo, called the San Angelo Area Foundation. The mission of the Foundation is to build a legacy of philanthropy by attracting and prudently managing endowment funds in order to match donor interest with community needs of the area.

Today, Chairman Stephens announced the first major gift to the Foundation. Amy and Mark McLaughlin have made the first endowment of the San Angelo Area Foundation. The endowment, called the Amy and John Mark McLaughlin Donor Advised Fund, was made possible by their generous gift of corporate stock worth $2,040,816.

Mark said, “We are indeed thankful for the many blessings that have come our way which make it possible for us to make this gift. We are comforted with the knowledge that this gift will be faithfully administered by the Foundation and that the distributions will be wisely used to make this world a better place for residents for the San Angelo area.”

Donors, like the McLaughlins, can meet their philanthropic goals by using the San Angelo Area Foundation. The Foundation will ensure permanence of the gift, while creating growth and income that will in turn be used to support charitable organizations in the San Angelo area.

The Foundation hopes to begin accepting grant applications early in 2003 as endowments continue to grow and more gifts are received. For more information on the San Angelo Area Foundation, contact Matt Lewis at 325.947.7071.