Time capsules used to be quite a tradition, gathering a historic box of goods and information, intended to communicate with future people, helping them, decades later, reflect on how things change. Such cache boxes were often laid as building cornerstones with future dates to open for anniversary ceremonies, revealing the snapshots of the past and societal factors important to people at the time.
I reflect on this practice with awe, having been part of several time capsule openings in my lifetime, always amazed at the price of homes, groceries and cars advertised in newspaper clippings and flyers. The boxes often held beautifully written messages, hopeful notes for a world where diseases such as cancer had cures, poverty was erased, and compassion and peace in the world reigned greater than negativity, hate and wars. Items were then added, and the capsules resealed, meant to pass on newer messages to future generations.
Given my nature and career, while truly moved by those lovely messages, I could not help but to cast a roving eye to assess the cost of goods against inflation in those dated advertisements and searching the vintage newspapers for stock pricing (yes, I am data nerd). This is why reflecting upon three decades of market performance for Legacy Endowment Community Foundation is top of mind at the moment. Approaching our 30th anniversary has a way of pulling out the “time capsule” of data and performance, revealing how much money has been infused into our local community from generous grant distributions. Grants that were made possible through endowed funds from individuals who are no longer with us, and many who still are. These donors had a vision for the future, propelling forward humanitarian ideals that were important to them, like little financial time-constructed capsules that keep on giving.
As often said by one of our investment advisors, market investing should never consider three things: emotion, politics, or tax considerations. A community foundation like Legacy has the ability to transcend these factors, focusing on donor wishes meant to benefit charitable organizations with long horizons. So, when thinking of the handful of endowed funds started in 1994 and growing from about $1.37 million to $31 million, distributing more than $12.5 million in outbound grants to charitable organizations during those three decades of market growth, I’m just amazed.
I applaud our five founders: Mike Dunlap, Jon Frandell, Helen Monroe, Fred Vaught, and Don Zech, who joined together 30 years ago to launch this organization. I think of them as the human collateral of a time capsule. They KNEW the market would grow over time, through all varieties of economic peaks and valleys. They built a local community foundation to allow individuals to capitalize on such growth, giving donors the means to have their philanthropic intentions grow and weather tough times. I cheer for the fact that in all of San Diego County, we have our own community foundation right here in own backyard, supporting our unique Fallbrook/Bonsall area for the generations to come. And if I may, I shall put my own hopeful note in a virtual time capsule as a message for those who follow after me: May the next 30 years be just as immensely successful with even greater benefits for all who live in this beautiful region.
This is a reprint of Jean Larsen’s article in the Village News on November 3, 2024.
This is part of a series of articles written to share important information about charitable giving and the various ways you can easily support your favorite charities and community.