The value of the Baton Rouge Area Foundation’s assets surged to a new high at the end of 2016, rising 9% to $626 million from $574 million one year before.
“Assets climbed on the strength of the real estate portfolio managed by Commercial Properties Realty Trust, more contributions by donors to charitable funds, and the value of those funds rising with the stock market,” the foundation says in a news release.
BRAF’s assets are mostly controlled by its donors, who make grants to nonprofits from contributions to charitable accounts. About half of the assets are in real estate.
The foundation says donors contributed $60 million to their charitable funds, of which $34 million was granted to nonprofits in 2016. About 32% of the grants in 2016 were issued to human services organizations and 22% more to education institutions, BRAF says.
The figures were presented at BRAF’s annual meeting on Wednesday. The foundation’s members also elected board members, selecting S. Dennis Blunt of Phelps Dunbar as chair, and Bill Balhoff, of Postlethwaite & Netterville, as vice chair.
