PCF Will Manage $10 Million in Charitable Fund Assets of Senior Citizens Services

by | Dec 17, 2018 | News Releases | 0 comments

CLEARWATER, Florida – In a win-win partnership for Pinellas, the Pinellas Community Foundation (PCF) has been tapped by Senior Citizens Services Inc. (SCS) to assume management of SCS’s $10 million in charitable fund assets.

Now we can enjoy grant-making without the complication of foundation administration.William Sturtevant

The two Pinellas-based not-for-profit foundations have a long history of funding programs for older adults. SCS funds, exclusively dedicated to seniors, including services such as emergency relief funds and support for affordable housing, were previously managed solely by the SCS volunteer board of directors.

PCF took over the day-to-day management of SCS’s $10 million in charitable funds effective November 20, 2018, including providing investment oversight and grant administration. The SCS board of directors will continue to determine grant awards. They will also have a seat on the PCF board of governors.

“Pinellas Community Foundation is honored that the Senior Citizens Services board of directors selected us to administer its grants program,” said Duggan Cooley, CEO of PCF. Of PCF’s $100 million in charitable fund assets, approximately 40 percent of PCF grants are awarded to organizations that directly and indirectly benefit seniors.

“Senior Citizens Services took the bold move to seek a public foundation to administer our donor-advised fund on our behalf. Now we can enjoy grant-making without the complication of foundation administration,” said William Sturtevant, president of the SCS board of directors.

While PCF provides grant money to a wide range of community programs − from youth and families to environmental stewardship to arts, education and cultural enrichment – PCF focuses on a specific area of need each year. “Our focus this year happens to be on serving the needs of Pinellas County’s aging population, so the timing of this decision could not be better,” said Cooley.

PCF, which celebrates its 50th anniversary in 2019, is the only charitable foundation of its kind solely dedicated to enhancing the quality of life for all Pinellas County residents. The diversity of nonprofit agencies and the causes PCF supports are a reflection of the deep and broad-ranging charitable visions shared by benevolent PCF donors.

Among the PCF grant recipients that serve older adults are Adult Lutheran Organization for Action, Area Agency on Aging of Pasco-Pinellas, USF School of Aging Studies, Suncoast PACE/Empath Health and the Arthritis Foundation.

About Pinellas Community Foundation

Pinellas Community Foundation was founded in 1969. With over $100 million in charitable assets, PCF seeks effective solutions for Pinellas County’s most challenging social, environmental and educational issues, while supporting the advancement of arts and culture. PCF is the only charitable foundation providing donors with customizable giving opportunities to enhance the quality of life for Pinellas County residents. More than 262 charitable organizations have received $50 million in donor-funded grants to support community programs. The PCF mission is made possible thanks to the generosity of donors. For information, call 727-531-0058 or visit www.pinellascf.org.

About Senior Citizens Services

Senior Citizens Services was incorporated in 1960 as a 501(c)(3) charitable organization committed to providing senior activities and other services to citizens 55 years of age and older residing in Pinellas County. As a foundation, SCS provides grants to nonprofits and government agencies that serve older adults in Pinellas County. In 2018, along with Pinellas Community Foundation, SCS funded the first pantry for incontinence products in Tampa Bay.

Media Contact

Leah Slavensky
Community Impact Manager



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