The McKenna Legacy Foundation in New Braunfels, Texas, has awarded grants totaling nearly $900,000 to local nonprofits that have been hurt by the recession, the New Braunfels Herald-Zeitung reports.
The foundation, which was established last year with $70 million from the sale of McKenna Memorial Hospital, awarded grants to twenty-one nonprofits in the New Braunfels area. Grantees include Communities in Schools, which received $26,000 to continue its work in assisting underprivileged students. According to CIS chair Carola Davis, the funds will provide the organization with a supplemental cash flow during a time when its usual funding sources have come up short.
The foundation plans to award two rounds of grants each year, with the next round to be announced in the fall.
"The reason the McKenna Legacy Foundation exists is to advance the well-being of the New Braunfels community," said the foundation's president and CEO, Tim Brierty. "We felt the best place to start was by making sure our local nonprofits remain healthy and viable partners in that goal."
“McKenna Foundation Announces First Grants.” New Braunfels Herald-Zeitung 6/17/09.