Celebrating 20 Years with the Founders Fund
By Lea Fitzpatrick, Finance Committee
In the spring of 2024, as the Women’s Impact Fund (WIF) celebrated its 20th Anniversary, we proudly launched the Founders Fund, securing the future of our mission and honoring the vision of our founders, Mary Lou Babb and Claire Tate. The Babb family’s generous $100,000 initial gift allowed us to launch the Fund. Following an additional gift from founder Claire Tate and other founding members, the Fund held $158,000, a powerful tribute to the 158 women who joined WIF in its first year. “The establishment of the Founders Fund is a celebration of what we’ve built together over the last two decades and the important role that every member of Women’s Impact Fund has played. It ensures that the collective power of our membership continues to positively impact our community for years to come,” shares Patricia Massey Hoke, Executive Director of WIF.
Following the announcement of the Fund at WIF’s spring membership meeting, a dedicated committee of WIF members bringing expertise in financial planning, nonprofit operations, and governance worked together to select Foundation For The Carolinas as our endowment management partner. They also created WIF’s first Investment Policy Statement, ensuring the Fund’s financial health and providing clear guidance for the Board of Directors around the Fund’s purpose to advance the strategic priorities of the organization and increase women’s leadership in philanthropy.
While the ultimate vision is to grow the Fund to $1 million in value, it is structured as a quasi-endowment, which allows for the expenditure of both principal and income. This provides the Board the flexibility to support immediate needs impacting WIF’s long-term success while building a sustainable future.
With the Founders Fund now established, WIF is positioned to continue its work of empowering women and strengthening communities for decades to come. Thanks to the generosity of our founding members, this Fund will be a lasting legacy—a testament to the collective impact that happens when women unite with purpose.
If you would like to make a gift to the Founders Fund, you can do so at any time by visiting our website.
