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Dec. 7, 2010

PGE Foundation awards 46 grants totaling $342,000
Serendipity Center receives Foundation's inaugural Program-Related Investment

In the second through the fourth quarters of 2010, the PGE Foundation — Portland General Electric’s corporate foundation — awarded 46 grants and one Program-Related Investment (PRI) totaling $342,000 to Oregon nonprofits. This brings the total amount awarded by the Foundation in 2010 to $902,000.

At its November annual meeting, the PGE Foundation board finalized its grantmaking for 2010 by awarding its first-ever PRI to Serendipity Center for $25,000. The award is a five-year, below-market-rate loan that will provide bridge financing to complete Serendipity’s capital expansion project. Serendipity Center, an accredited school and a certified mental health agency, is a therapeutic school in Portland that provides specialized education and treatment services to children. The Foundation has supported Serendipity with grants in the past.

In addition to the PRI, the largest education and arts education grants awarded were $50,000 to the Oregon Independent College Foundation for scholarships at its 10-member colleges; $15,000 to Regional Arts & Culture Council for its Right Brain Initiative; $15,000 to Oregon Children’s Foundation for its SMART reading program; $10,000 to NAYA Family Center for its early college academy science program; and $10,000 to White Bird for its Portland Public Schools outreach program for the Alvin Ailey American Dance Theatre project.

In all, the PGE Foundation made 17 grants totaling $142,500 to enhance education across the state; 11 grants totaling $82,500 for arts and culture programs with a focus on arts education; and 18 grants totaling $92,000 to support basic needs of Oregon families and individuals.

Seventeen education grants totaling $142,500, focused on college scholarships, mentoring, special school programs, early childhood education and literacy: Eleven arts and culture grants totaling $82,500 focused on education for youth, the homeless, low-income and those with disabilities: Eighteen healthy families grants totaling $92,000 address domestic violence, homelessness, hunger, needs of seniors and the disabled, physical and mental healthcare, at-risk youth, foster children, and job training:
The PGE Foundation, the corporate foundation of Portland General Electric, was established in 1997 as a 501(c) (3) nonprofit organization with a permanent endowment. The Foundation’s giving is separate from the corporate giving of PGE. Since its inception, the Foundation has distributed more than $12.4 million to help improve the quality of life for all Oregonians by supporting statewide programs and services that encourage healthy families, provide educational opportunities and encourage the arts and cultural diversity. Gwyneth Gamble Booth is chair and Carole Morse is president.