St. Petersburg Free Clinic has received a $300,000 gift from the Virginia and David Baldwin Foundation, which supports the nonprofit's long-term sustainability. The Community Foundation of Tampa Bay contributed an additional $100,000 to Mr. Baldwin's gift.
"Mr. Baldwin's generosity has been totally transformative for our organization," said Michael O. Bice, interim CEO of St. Petersburg Free Clinic. "By creating this endowment, his giving spirit will have an impact on our organization for many years to come."
Endowments provide stability and a consistent source of income for nonprofits. The principal gift and matching funds from The Community Foundation of Tampa Bay grow over time, and St. Petersburg Free Clinic receives annual income from the endowment.
The Community Foundation of Tampa Bay multiplied the impact of Mr. Baldwin's most recent gift through its Endowment Match Challenge. Through the Endowment Match Challenge, the Community Foundation of Tampa Bay provides a 1-to-3 match when nonprofits or individual donors create a new endowment with the Foundation or add to an existing endowment.
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