News - Local
El Pomar awards top $400 million; new grant to FAC
Posted: May 11, 2010 11:47 AM by Bea Karnes, News First 5
Updated: May 11, 2010 11:47 AM
The El Pomar Foundation, based in Colorado Springs, announced its 10,000th grant Tuesday, awarding $150,000 to the Colorado Springs Fine Arts Center.
The FAC plans to use the money for education and outreach programs. Sam Gappmayer, FAC CEO, said his organization is deeply grateful for the decades of support it has received from El Pomar, and is honored to be the 10,000th award granted.
According to Bill Hybl, El Pomar CEO, this brings to $400 million the total grants awarded by the foundation since its founding in 1937 by Spencer and Julie Penrose.
El Pomar contributes $25 million annually to support Colorado nonprofit organizations involved in health, human services, education, arts and humanities, and civic and community initiatives. Total assets of the Foundation top $550 million.
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