CDF to Administer $3.5 Million CoBank Advised Fund
WASHINGTON, DC (March 20, 2018) – CDF received a $3.5 million contribution from CoBank to establish the CoBank Advised Fund. The donor-advised fund will support contributions consistent with the bank’s corporate citizenship programs and objectives.
“We are honored CoBank selected CDF to administer the CoBank Advised fund,” said CDF Executive Director Leslie Mead. “The addition of the CoBank Fund lowers the administrative costs of other CDF funds, making more dollars available for grant making.”
CoBank, a member of the Farm Credit System, is a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States.
Under an agreement between CoBank and CDF, CoBank will recommend specific programs to receive grants from the fund. The CDF Board of Directors will consider and make determinations on grant requests. The Fund assets will be distributed by CDF over a period of three years.
In addition to the CoBank fund, CDF also administers the Howard Bowers Fund supporting food cooperative education and training; the Cooperative Development Fund supporting innovations in cooperative development, with an emphasis on seniors; and the Cooperative Disaster Recovery Fund providing grants to help cooperatives rebuild after disasters.
About the Cooperative Development Foundation
The Cooperative Development Foundation promotes community economic and social development through cooperatives. CDF is a thought leader in the use of cooperatives to create resilient communities, including the housing and care needs of seniors. Through its funds, fiscal sponsorships, and fundraising, CDF provides grants and loans that foster cooperative development domestically and abroad. CDF’s Cooperative Hall of Fame recognizes the accomplishments of outstanding cooperative leaders at the National Press Club in Washington, DC each year. http://www.cdf.coop/