History

The genesis for the Mercer Island Community Fund came from an overture voiced by Lola Deane who was a member of a committee appointed by the mayor in 1985 to plan for the 25th anniversary of the founding of the city of Mercer Island. As an active volunteer, Lola was concerned about ongoing funding for ideas and projects that would benefit Mercer Island in the future. Given the island's economic base, it was difficult to qualify for discretionary government grants, and citizens had to work hard to fund worthy projects.

She proposed to the group that, as a lasting memorial to the 25th Anniversary, a community foundation be established that could receive contributions, especially bequests, and fund worthwhile projects on Mercer Island in the future. The idea was well received and an auction was held as part of the Mercerversary Celebration to begin the Fund. Lola also asked Anne Farrell, Executive Director of the Seattle Foundation, to meet with the Auction Committee to explore the possibility of the Seattle Foundation being the steward of the funds, thus freeing a new board from having to be concerned with investing and meeting all the legal criteria for such investments. A 501.c.3. charitable organization was begun and the first board for the Mercer Island Community Fund was established. An agreement was signed with the Seattle Foundation to invest monies received by the Community Fund.

The original goals for the Community Fund were:

  • To keep the Community Fund before the citizens so people would be reminded of its value when they were thinking about bequests and wills.
  • To use the funds for seed money for projects that would have difficulty securing monies from other sources.
  • To use the monies for social services, environmental and community needs.
  • To spend only interest on current projects.
  • To continually educate the community about the activites and status of the Community Fund.


Because of the size of the Fund, it was conceded the initial effects would be modest but important, and over time by the endowment philosophy, the contributions to individual organizations would become larger and have a greater impact.



Compiled by Lola Deane, Gordon Rasmussen and John Nelson. June 10, 1998