(New Orleans, LA – January 19, 2017) The Greater New Orleans Foundation announced today that the four nonprofit organizations named 2016 Freeman Challenge winners – Coliseum Square Association, the Lens, Lighthouse Louisiana, and the YMCA of Greater New Orleans – achieved their fundraising goals. Fundraising dollars raise in 2016 will be matched one dollar for every two dollars up to $150,000, thanks to the generosity of the Freeman Family, which established the Freeman Challenge at the Greater New Orleans Foundation. The Freeman Challenge matching dollars are aimed specifically at helping nonprofits start or grow endowments or build a “rainy day” fund.
“An endowment can signify a turning point for a nonprofit,” said Laura Freeman, family member and advisor. “Our family is committed to bolstering our local nonprofits’ long-term stability through the Freeman Challenges.” Since its inception in 1999, the Freeman Challenge has helped establish endowments at over 25 nonprofits in education, the arts, the environment, and health and human services.
“We are so proud of the four nonprofit organizations for achieving their Freeman Challenge goals!” said Greater New Orleans Foundation senior program officer Kellie Chavez-Green. “We spend many hours working with nonprofit organizations to make sure the time is right for an endowment or rainy day fund fundraising campaign, and we had every confidence in these four.”
The Freeman Challenge is held every other year, and is open now. Interested nonprofits must complete a readiness workshop, which gives nonprofits the opportunity to learn the pros and cons of an endowment and assess their ability to successfully execute such a campaign. For more information and for additional resources on whether it’s the right time for your organization to build an endowment or establish a reserve “rainy day” fund, visit https://www.gnof.org/initiatives/the-freeman-challenges/ .
THE COLISEUM SQUARE ASSOCIATION (CSA): A neighborhood association supporting New Orleans’ Lower Garden District
THE LENS: New Orleans’ first and only nonprofit, public interest newsroom focused on public policy with investigative journalists aiming to engage and empower the residents of New Orleans and the Gulf Coast by providing information and analysis necessary to advocate for more accountable and just government.
LIGHTHOUSE LOUISIANA: Provides people with disabilities opportunities to succeed
YMCA OF GREATER NEW ORLEANS: Grounded in Christian values, the Y strengthens communities through programs encouraging youth development, healthy living and social responsibility