Tygart Valley United Way celebrates reaching annual campaign goal
'Fundraising is changing,' CEO Brett White said Thursday at its annual luncheon to celebrate the campaign. 'The world has changed and I think the fabric of how we fundraise has changed, but we're just really thankful we were able to get to the goal again this year to put that money right back into the community.'
This cycle, the Tygart Valley United Way set its fall fundraising campaign goal at $600,000 during its August launch. Previously, the organization beat its $625,000 goal by $6,000. But it was an uphill climb, one most of its sister United Way branches across the state couldn't make. Although the Tygart Valley United Way was able to beat its $600,000 goal again, it only cleared it by about $2,000.
White said his organization has a tremendous impact on the community. They fund 42 different programs at 30 health and human service agencies in five counties. This is the 19th year in a row they've reached their goal. The nonprofit serves agencies in Marion, Taylor, Randolph, Barbour and Tucker counties.
'They rely on these dollars,' White said. 'It's critical to their programming.'
A lot of nonprofits rely on federal funding, White said. White is waiting to see what will happen with the turmoil surrounding President Donald Trump's funding freeze.
'I think it's certainly going to affect nonprofits in the community,' he said.
With federal funding in question due to radically different spending priorities, White said fundraising and donations will be more important than ever.
The Rotary Club of South Fairmont gave a $75,000 check to the campaign as well. It's the largest amount raised from the 2024 Celebration of Lights.
'When we started that project, it was meant specifically as a fundraiser for the United Way,' Rotary Treasurer Jim Chadwell said. 'It's very hard for an individual person to decide why the Literacy Volunteers versus the DAV versus scouting. They're all great organizations, so we've got to meet the needs of the community. We think the United Way is best suited for that.'
Dani DeVito, United Way Board member, received the Rev. Jack 'Donal' Squires award from the United Way. DeVito said she's been serving on the board for several years, and has chaired several different affinity groups such as Women United and Market in the Park.
DeVito said the United Way allows its partner agencies to rely on other monetary streams besides grant funding. A lot of people are struggling right now, so what the United Way does is important, she said. The agencies the United Way funds help fill educational needs, after school care, put food on the table, keep lights on or even help with disaster recovery.
The surprise award was a welcome one.
'I was shocked, I was trying so hard not to cry,' DeVito said. 'I had no idea that was coming at all. It really means a lot to be recognized for the work I do, because it doesn't feel like work. I love helping this organization. It's just an incredible honor.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 hours ago
- Yahoo
The rich already know how private equity mints money — and it's not from a 401(k)
The ultrawealthy are envied for many reasons. For instance, we wish we could access the same private-market investments that they favor. Now, after the White House issued an executive order on Aug. 7, you may be able to invest like the billionaires do. Homeowners rush to refinance as mortgage-rate plunge opens window of opportunity My wife and I are in our 50s and have $11 million. We're not leaving it to our kids. Is that wrong? You could receive up to $7,500 from the AT&T settlement. Here's how class-action suits work. But would you want to? The executive order allows ordinary retirement savers to invest in private assets and cryptocurrency. This will expand investment options for anyone with a 401(k) or similar tax-advantaged retirement plan. It is a big deal — opening part of America's $12.4 trillion defined-contribution market to private-asset managers. The largest private-equity firms and other asset managers are salivating at the opportunity to pitch this untapped market of retirement savers. Private assets encompass a range of investments that do not trade on a public exchange. Examples include hedge funds, private equity, private credit and infrastructure. The case for private assets is they can provide a buffer against inflation — plus steady returns. The downsides include high fees, illiquidity and complexity. The nation's biggest asset managers welcome the executive order. They want to develop funds that make private assets easier for people to buy, and argue that the added diversification serves savers' best interests. Larry Fink, chief executive of BlackRock BLK, says retirement savers should replace the traditional 60% stocks/40% bonds asset-allocation model with a 50/30/20 split: 50% stocks, 30% bonds and 20% private assets. Read: Larry Fink proposes an alternative to the 60/40 portfolio. It means more fees. Should you be excited about this widening menu of investment choices? It depends on whom you ask. Some investment professionals like the idea of making private assets more available to more people. 'Historically, a number of private-market strategies have produced higher performance and additional diversification in defined-benefit pensions,' says Peter von Lehe, head of investment solutions and strategy at Neuberger Berman. 'It's appropriate that a broader range of investors have access to private assets in their defined-contribution plans because of the potential for return and diversification that these long-term investments can provide.' However, von Lehe cautions that these investments are illiquid and 'have a higher degree of complexity.' He says his 'most appropriate use case' for private-market investments is through professionally managed target-date funds or other funds that allocate a percentage of defined-contribution money to these complex but potentially more lucrative alternatives. Read: Here's something the rich know about managing investment risk that can help you, too Financial advisers have differing views on the role of private assets in client portfolios. Steven Roge, a certified financial planner in Bohemia, N.Y., says private markets are not for everyone. 'It's for people in the wealth-accumulation phase, say 40 to 50 years old, who have a long time horizon and a high risk tolerance,' Roge says. 'And they have to be sophisticated enough to understand it. We know if they don't understand it, they may not stick with it.' Of the firm's 300 clients, he says that 'only about a dozen' fit the bill for adding private-market assets to their retirement accounts. Even with the expanded investment options that may result from the White House's action, Roge remains a fan of passive strategies for most investors. 'Indexing is how they will win over the long run,' he says. 'But some clients want something that's special and different' as they seek market-beating returns. Given the illiquidity of private assets, Roge anticipates setting expectations for those clients who tend to monitor their portfolio daily — and who engage in frequent trading. 'These private investments may only price four times a year,' Roge says. 'That's not enough action for certain clients who track their portfolio like a hawk.' In his personal portfolio, Roge uses private markets — especially private equity — to diversify his holdings. He says he allocates about 25% to alternative assets. 'It helps me sleep at night knowing my portfolio isn't being pushed around by the volatility of public markets,' he says. Roge adds that he is not concerned about the current high valuations of private-equity funds. 'The valuations [of private-equity funds] are more realistic than the erratic valuations we see in public markets on a daily basis,' he says. Other advisers are more skeptical of the White House executive order. 'It's less being done out of interest for the general public and more for private industry lobbying the [Trump] administration,' says Alex Ruda, an adviser in Silver Spring, Md. The executive order undoubtedly pleases asset managers and private-equity firms. For years, they've wanted to attract retirement savers' money. These savers bear primary responsibility for managing their 401(k) compared with today's older retirees, many of whom receive employer-funded defined-benefit pensions. While some younger savers enjoy picking their investments, others dread it. 'The average American worker isn't equipped to navigate these complex [private-market] investments,' Ruda says. 'And they may fall prey to a little performance chasing given where we are in the market cycle' — as private markets have outperformed publicly traded stocks since 2000. Ruda feels so strongly about not incorporating private assets into client portfolios that he's willing to forgo newcomers who express such interest. 'If I wanted to broaden my client base, I'd have to play to what they want,' he says. 'But I don't have to do that. So I'd say to them, 'I'm not the best fit.'' Read next: Here's what it's like to invest in private equity — and why you don't want it in your 401(k) More: As private equity enters retirement plans, is it too dangerous for average investors to jump in? I'm a senior who barely survives on $1,300 a month. No way could I live on $1,000. 'I am a senior citizen': My car needs $3,500 for repairs, but only has a trade-in value of $6,000. Do I bother fixing it?
Fox News
20 hours ago
- Fox News
Trump advances Russia-Ukraine peace talks as new details emerge
Fox News senior White House correspondent Peter Doocy reports on peace talks between President Donald Trump and Russian President Vladimir Putin.
Fox News
20 hours ago
- Fox News
Zelenskyy to visit White House for peace talks with Trump
Fox News' Rebekah Castor reports on the Russia-Ukraine peace talks and Ukrainian President Volodymyr Zelenskyy's upcoming meeting with President Donald Trump at the White House next week.
