ACF reports record -breaking disbursements
YUMA, Ariz. (KYMA, KECY) - The Arizona Community Foundation disburses funds to be used for scholarships, grants and loans each year. The funds are part of endowments set forth by area companies, families who create a trust in memory of a loved one or donations.
During 2020, the ACF was faced with a different need, and the demand was greater than they've seen in years past. The COVID-19 pandemic affected students, nonprofits and business owners alike.
ACF's recent report showed that during the entire year of 2020, they disbursed $183 million. Out of that sum, $94 million was given to small businesses owners in the form of grants.
Just under $5 million was disbursed in the form of scholarships. The rest was allocated among 121 nonprofits across the state.
Since it's inception in 1978, the Arizona Community Foundation has disbured well over a billion dollars in the form of scholarships, loans and grants. If you're interested in donating to the ACF you can read about their options on their website.