Thursday, July 25, 2024

NHC Endowment to announce $53M in funding in latest round of grants

William Buster at the Power Breakfast Series announced $52 million will be given out in the 2023 tranche of endowment funds. (Courtesy photo)

SOUTHEASTERN N.C. — The second year of grants to be doled out by the New Hanover County Endowment will be announced early next week.

According to the endowment’s first CEO, William Buster, roughly 33 will be given this year equaling $53 million dollars. It awarded $9 million last year, given to 110 nonprofits.

Buster made the reveal Thursday morning at Wilmington Business Journal’s Power Breakfast. He said around 19 will be multi-year strategic grants and 14 will be responsive grants, meaning one-year only and nonrenewable.

He didn’t state how many applications the endowment received this year but said many will not be funded.

“But when the endowment says no, it means ‘not now,'” Buster said at the breakfast. “Just keep having conversations with our team — keep pushing and we will have the opportunity to work together.”

Buster iterated the board has been clear from day one it wants to see generational and transformative change from the endowment. It was created with $1.2 billion from the sale of New Hanover Regional Medical Center to Novant Health in 2021.

The endowment’s focus are in areas of health, education, economic prosperity and safety. In 2023, grants will fund programs that address New Hanover County’s most acute problems, such as barriers to early childhood development and capacity building for nonprofits.

The endowment will announce the 2023 recipients on Monday, Dec. 18.


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Shea Carver
Shea Carver
Shea Carver is the editor in chief at Port City Daily. A UNCW alumna, Shea worked in the print media business in Wilmington for 22 years before joining the PCD team in October 2020. She specializes in arts coverage — music, film, literature, theatre — the dining scene, and can often be tapped on where to go, what to do and who to see in Wilmington. When she isn’t hanging with her pup, Shadow Wolf, tending the garden or spinning vinyl, she’s attending concerts and live theater.

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