The Original North Carolina Fund (1963 to 1968)
In 1962 North Carolina Governor Terry Sanford, dismayed at the poverty and lack of economic opportunity for North Carolinians and by an intransigent legislature, sought out the counsel and passion of private philanthropy to ignite partnerships that would change the fortunes and face of North Carolina for generations.
Sanford and his compatriots convinced the Ford Foundation to fund its first statewide anti-poverty project, one which would be aimed at rural and urban communities.
The Ford Foundation provided initial funding of $7 million ($55.8 million in 2017 dollars) for a demonstration program, with the condition that the program would be dissolved after five years.
The North Carolina Fund was incorporated in July 1963 as an independent, non-profit, charitable corporation to seek and dispense funds to attack the cycle of poverty in North Carolina.
Over five years and with the assistance of other visionary North Carolina foundation partners (The Z. Smith Reynolds Foundation and the Mary Reynolds Babcock Foundation) The North Carolina Fund served as a catalyst and model for mobilizing and empowering communities and volunteers.
Over the life of the fund $16 million ($128 million in 2017 dollars) was managed and deployed to tackle poverty and bridge racial divides.
