Black Charities to increase endowment to $5 million

November 01, 1992|By Robert Hilson Jr. | Robert Hilson Jr.,Staff Writer

The Associated Black Charities, a non-profit Baltimore-based organization, announced yesterday that it plans to increase its endowment 10-fold to help low-income black people as government programs shrink from them.

The ABC, which serves the greater Maryland area, said its five-year strategic plan also includes giving priority to programs dealing with economic and community development within the black community.

"We've touched a lot of lives so far," said Donna Jones Stanley, ABC executive director for three of its five years.

"The programs that we fund will make a difference long after I'm gone."

,.5l Ms. Stanley said ABC's current endowment is $500,000. Increasing its endowment would enable it to help more organizations.

Mayor Kurt L. Schmoke said he supports ABC's effort, especially as state and federal budget cuts go into effect today. Because of budget cuts, he said about "10,000 of the poorest people in the state will be dropped from state medical assistance programs."

The mayor said he hopes many of those people can be helped by ABC.

"Associated Black Charities recognizes the problems we have," Mr. Schmoke. "It can be the dominant force to care of some of the problems in our city. It's very important that this institution doesn't live from year to year."

Mr. Schmoke also said that the $5 million endowment goal could be reached by next November, if all black-owned businesses would contribute.

Last year, ABC raised more than $1 million through a variety of sources, such as fund-raisers, work pledge cards and institutional gifts.

Of that figure, nearly $800,000 was given away, with the remainder going to ABC endowment and to cover overhead costs, officials said.

Since ABC began in 1985, more than $3 million has been given to more than 180 organizations in Central Maryland.

Some of the programs funded include a computer literacy group for youths in Turner's Station, a Cherry Hill soup kitchen, drug abuse and awareness programs, care for AIDS patients and mammography screening in the city's low-income areas.

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