“Over the years, The Rooke Foundation had become too small to efficiently manage its grants and invest its assets,” said Robert Rooke “We are pleased that our foundation will continue its good works in perpetuity through the funds we are establishing at the community foundation. We trust their expertise and abilities.”
For the past 67 years, The Rooke Foundation has awarded scholarships to graduates of Refugio and Woodsboro High Schools and made charitable grants to local non-profit organizations.
This final grant from The Rook Foundation is more than $157,000. The grant will establish a fund at CBCF which will carry The Rooke Foundation name and will be used to continue to fund student scholarships and worthy charitable grants in Refugio County.
The Coastal Bend Community Foundation was established in 1981 and has made grants and scholarships totaling $70 million since its inception. Its current assets are $50 million.
“We are honored that The Rooke Foundation has chosen us to be the stewards of its legacy,” said Karen W. Selim, president and CEO of the Coastal Bend Community Foundation. “Oftentimes, private foundations can be served more efficiently and cost effectively through granting their assets to the community foundation to administer. We thank the Rooke Foundation for this generous grant and for its confidence in us.”
The Community Foundation was also the recipient of the final grant from the Paul and Mary Haas Foundation when it terminated in mid-2011.