SAGA Construction and Outer Banks Community Foundation Announce New Charitable Endowment
SAGA Construction, Inc. and the Outer Banks Community Foundation are delighted to announce a new charitable endowment fund that will make grants to nonprofits to promote and improve quality of life and health across the Outer Banks.
The SAGA Endowment Fund (SEF) will serve the Outer Banks community by identifying and supporting causes that are not currently being adequately met, or causes that currently do not exist, by writing seed grants to area nonprofits and helping to bring awareness to the greater community.
“It is our intent to build a long-lasting relationship with the Outer Banks community as this is our home,” said Amit Gupta, President of SAGA Construction, Inc. “We believe that helping to make the Outer Banks a better place is not only our obligation but also our just duty. The community has been good to us and given us an opportunity to grow. Giving back is a family tradition that will give each of us great satisfaction as our family matures here.”
“The Outer Banks Community Foundation is thrilled to partner with the Gupta family to facilitate their company’s philanthropy,” said Lorelei Costa, Executive Director of the Community Foundation. “The Community Foundation’s purpose is simply to enable — enable giving, enable nonprofits, enable good. In creating this endowment fund, SAGA has established a permanent source of grant funding for our community — for good, for ever.”
“As a new mother and a dedicated resident of OBX for many years, I am so proud to be able to expand the friendships I have developed and help reach out to the broader community by building a healthier and stronger base to enhance education and well-being options for the growing population,” said Shweta Gupta, Advisor to the SEF.
As a “donor-advised fund,” the SEF will award grants as recommended by the fund’s advisors. All grants are then approved by the Board of the Community Foundation, ensuring that all recipients are qualified charities, in accordance with IRS rules.
“We are a young company with just under 10 years of construction and land development experience, but we have quickly realized the great benefits of philanthropic activities to both the growth of our community and personal satisfaction,” said Sumit Gupta, CEO of SAGA Construction, Inc. “We are deeply moved by the close knitted character of our community. We look at this new relationship as a natural extension of our business model in teaming up with the Community Foundation now and in the future.”
Now in its third decade of philanthropy, the Outer Banks Community Foundation is a public charity that connects people who care with causes that matter. The Community Foundation manages 115 charitable funds for individuals and agencies, makes charitable grants, administers over 40 scholarship programs, and provides tailored services to help individuals, families, and businesses pursue their charitable goals. Since its founding in 1982, the Community Foundation has awarded over $4 million in grants and $1.3 million in scholarships to local nonprofits and students across the Outer Banks.