Challenges of the Economic Uncertainty
The Bright Mountain Foundation (BMF) has maintained a strong commitment to Colorado non-profits disbursing funds well above the 5% required, averaging 9.7% annually over the past five years. We are proud of our past efforts and dedication to effective and responsive philanthropy.
The current fiscal crisis, poor performance of the global stock markets, economic instability and the uncertain timeline for recovery has necessitated changes in BMF’s grant making policy. In light of the current economic reality we will request fewer proposals, grant sizes will be smaller, and we will not accept new applicants until further notice. Foundation staff will actively pursue opportunities to strategically leverage our funding. BMF has significantly reduced operational expenses in response to the current challenges. The BMF board is monitoring progress toward economic recovery. We will adjust our annual distribution as we are able.
BMF board and staff are sensitive to the impact the current economy has on non-profits, but particularly on their constituents. We wish to acknowledge and express our gratitude for the work of non-profits in supporting those most in need during these challenging times.
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