Fry Foundation ends its fiscal year on a generous note
June 04, 2013
Many foundations have a standard cycle for making donations or pledges to various causes. A lot of these groups tend to make hearty gifts at the end of their fiscal year, and the Lloyd F. Fry Foundation is no different.
The organization, which has focused on education, arts programs, employment and health initiatives in Chicago, recently announced it will give more than $1.2 million in grants at the close of its fourth quarter. The money will be going to the Infant Welfare Society of Chicago (IWSC), the People's Music School and the Action Civics Teach Institute's Mikva Challenge.
The IWSC received the largest amount of immediate funding, garnering $65,000 from the foundation to be put toward a Coordinated Care project in pediatric optometry services. This, alongside the hiring of another optometrist, means that the group will be able to serve 20 percent more patients this year.
The People's Music School will receive a two-year, $50,000 gift which will benefit an orchestra program, while the Mikva Challenge will be given $30,000 to provide professional development skills for local high school teachers.
The Fry Foundation has been in operation since 1983, and it is dedicated to serving the various needs of the citizens of Chicago. Every quarter, the group gives grants in three or four major areas, making sure all focuses are covered equally.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.