Amid federal funding cuts, Homer nonprofits are showing resilience - raising emergency support, growing endowments, and continuing to strengthen their future through the Seeds of Support program.
This summer we saw a earthquake of federal funding cuts and it certainly shook things up. According to new research by social technology firm Bonterra, more than half (52%) of federally funded nonprofits are experiencing financial instability.
Despite these challenges, Homer area nonprofits have shown remarkable resilience. We’ve seen inspiring examples of our local organizations adapting in real time: KBBI held an emergency funding drive that raised more than $175,000 while Storyknife, the Pratt Museum, HoWL, KBBI and Hospice each met the match, adding $20,000 apiece to their endowment funds to serve their missions for years to come.
Still ~$25,000 in matching funds from our Seeds of Support matching program remain on the table and there are still quite a few community organizations that could use our help.
At the end of last month nonprofit leaders came together at Grace Ridge Brewery to chat about how to use Seeds of Support to grow their agency endowment funds. We had a great mix of folks who already had an endowment with us and a few that were considering starting one.
Overall, it was a great time to come together and share. One organization is in the process of creating an endowment in order to take advantage of the match. It is uplifting to see established nonprofits growing their endowment and encouraging others to start their own.
The Homer Foundation awarded 25 scholarships totaling $77,000 to local students this year through donor-supported endowed funds. Since 2000, the program has awarded more than $573,000 in scholarships, continuing to support students across the southern Kenai Peninsula in pursuing their educational and career goals.
Students in the Youth Advisory Committee (YAC) program reviewed nonprofit applications and awarded $20,000 to local organizations supporting food security, housing, and early childhood services on the southern Kenai Peninsula. Funded by Robert and Meon Purcell, the program helps build youth leadership and community awareness.
We thank Ken Taylor for his dedicated service on the Board of Trustees. His thoughtful leadership and deep commitment to the community made a lasting impact.
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A new fund at the Homer Foundation is supporting Snomads’ work to keep local trails safe, accessible, and well-maintained for all users, now and into the future.
A $50,000 grant to the Homer Cycling Club is expanding the Eastland Trails system, boosting access to outdoor recreation and investing in the community’s future.
The Daniel Bunker Memorial Fund honors a life of service and generosity by supporting projects that bring people together, encourage active living, and strengthen community connections.
