United Way of King County thanks investors for helping us complete the Gates Challenge!
Your gift to the challenge helps us:
- Offset operating costs
- Leverage a dollar-for-dollar match up to $55 million
- Guarantee the financial strength of United Way of King County
- Provide for continuous improvement of staff, programs, facilities and operations.
|
|
In the 2006-2007 fundraising campaign, under the leadership of Campaign Co-chairs Jeff and Tricia Raikes, $22.5 million dollars was raised for the Gates Endowment. This represents more than four times the amount raised in any previous year for the endowment and has helped us reach our goal ahead of schedule.
Bill Neukom, a partner in the Business Practice Group at K&L Gates, brought key leadership to the challenge that helped United Way cultivate valuable relationships and raise more than $5 million a year from 2003 through 2007. As the Gates Endowment Chair, Bill sought to maximize the endowment's financial assets. Bill exemplifies the commitment one finds in public service for the common good and at United Way of King County we found him to be essential to complete the vision.
|
Your Dollars at Work
|
The endowment forecasts to distribute more than $6 million annually back to the community with that number growing indefinitely.
|
As the endowment grows, United Way of King County's net operating ratio will continue to decrease.
In addition to its financial contribution, the Gates Endowment provides United Way of King County with unprecedented access to experts and resources, increasing our leverage in solving critical community issues. The Gates Foundation and United Way of King County share community goals such as getting kids ready for success in school and ending homelessness. As the two largest philanthropic grant makers in King County, the organizations are achieving long-lasting tangible results that do the greatest good for the largest number of people in need in King County.
History of the challenge
In December 1999, the Gates Challenge Endowment was seeded with a $30 million gift. In 2004 Bill Neukom was named as chair of the challenge and brought key leadership that helped United Way cultivate valuable relationships. Seven donors made gifts to the challenge of more than $1 million. More than 4,000 pledges were made. Contributions from the Gates Foundation to the endowment equal $85 million at completion of the challenge.
For more information about the Gates Endowment, please contact the Major Gifts department at 206.461.3201.
Learn more
To view PDF documents, you need to have Adobe
Acrobat Reader installed on your computer. You can download
Acrobat Reader, free of charge, at Adobe's Web site.
