In 1998, a group of East Cobb residents formed the non-profit, Friends for the East Cobb Park. Their goal was to raise funds to purchase property for a passive park, then deed it to Cobb County to develop and maintain it. Of the $1 million they raised, $175,000 was to establish a permanent endowment resource for capital maintenance needs and improvements for the park. A large private foundation awarded a $100,000 grant to fund the endowment. The grant had one condition and one strong recommendation: (1) the organization had to raise the remaining $75,000 through private donations and (2) the entire $175,000 should be placed in an endowment fund with a community foundation. Thus began Cobb Community Foundation’s involvement. Since then, distributions of earnings have taken place from time to time to fund various park improvements.
Fast forward to July 2018. Cobb County had the opportunity to acquire a total of 30 acres of adjacent property with final proceeds from the 2008 Parks Bond referendum, but they were about $100,000 shy of the amount needed. Commissioner Bob Ott reached out to Friends for East Cobb Park for help. After conversations with and between the original private foundation and Cobb Community Foundation, we were honored to help facilitate such a monumental transaction which will have such a lasting impact on the community.
To help replenish the Friends for East Cobb Park Endowment, please click here.