The Third Decade 1994-2003

The third decade began and ended with major gifts, one private and one corporate, that set the stage for the Foundation’s rapid growth as we entered the 21stcentury. Early in the decade, a significant endowed gift from a local donor allowed the organization to nearly triple in asset size. The effects of this gift were threefold: more and larger grants could be distributed, funding began to include expanded social causes, and a need emerged to develop a more structured board governance system. The board also made the decision to transition from raising money for specific projects to increasing the asset size of the Foundation so that granting could be distributed through income from investments- ensuring that funds will exist into perpetuity. Toward the end of the decade, MAF became the philanthropic vehicle for a local technology corporation seeking a partner to assist them in establishing a donor-advised fund to facilitate their philanthropy. Grants focused in the area of science, engineering and technology education became the focus of this new fund and the Foundation has been able to award significant grants in that area.