Small Donations, Big Impact: The Crescent Fund

If a small group of young professionals pooled their resources to give back to their community, could they make a difference? Just ask one of the Crescent Fund’s first four grant recipients.

Melissa Sawyer, accepting a Crescent Fund grant for the Youth Empowerment Project, said, “You don’t necessarily need a lot of money to make a difference….When money is used thoughtfully and efficiently, you can make a huge impact.”

The idea for the Crescent Fund began in December 2008, when LaToria Willis, Manager of Donor Relations at the Greater New Orleans Foundation, was seeking a way to get more young professionals engaged with organized philanthropy. She met local attorney Morgan Williams, who liked the idea, and the two decided to start a giving circle.

“None of us have a lot of money, we’re young, but if we pool our funds and get matching funds, we can make an impact,” said Lauren Jacobs, Crescent Fund steering committee member who works in business development at Intralox.

Over a period of six months, the 18 Crescent Fund pilot class members researched giving circles and learned about strategic grantmaking from local philanthropists.

“Our members bring a wide variety of skills and knowledge in areas such as law, HR, marketing, fundraising, and other areas. We are also looking for opportunities where we can provide intellectual capital in addition to grant dollars,” said Jacobs.

The 18 Crescent Fund pilot class members each made a donation and the group raised additional matching dollars to meet their goal of $1,000 per person. The Greater New Orleans Foundation gave $5,000 and helps administer the fund. 504ward, a collaborative movement designed to retain the influx of young talent of New Orleans, also gave a donation. The Urban League donated meeting space and serves as the group’s fiscal agent. The pilot class split into two groups based on interest and began accepting grant applications focused on education and economic development.

“We were surprised by the response,” said Jacobs. “We received nearly 40 applications per group, a reflection of the need.” The groups narrowed the field down to 5-7 finalists each and conducted site visits to choose the very best candidates.

Cherie Williams, Vice President of Organizational Development at the Urban League and a Crescent Fund pilot class member, said, “Working in the nonprofit world, I understand the process of applying for grants. It was great to be on the other end, in a position to award the funds, and to see the great programs doing good work in the community.”

In November, the Crescent Fund gave small grants to four nonprofits: New Orleans Providing Literacy to All Youth, part of the Youth Empowerment Project; Social Entrepreneurs of New Orleans; Westbank Community School; and Young Aspirations/Young Artists, Inc.

“Our next step is to coordinate volunteer opportunities with the grantees,” said Cherie Williams. “I’m very excited to see the next class, and to watch the growth and development of the Crescent Fund. This is just the beginning. I expect really good things from the Crescent Fund.”