MAGNOLIA, Ark., Dec. 7, 2011 (GLOBE NEWSWIRE) -- Representatives of Peoples Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) gathered Tuesday to present a second $20,000 Partnership Grant Program (PGP) award to Compassion's Foundation, Inc., a nonprofit emergency shelter and service center for victims of domestic violence. This year's funding follows a $20,000 PGP grant that was awarded by Peoples Bank and FHLB Dallas in 2010.
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"We were ecstatic to hear that we qualified for the PGP grant once again," said Sondra Atkinson, co-program director and co-founder of Compassion's Foundation, Inc. "This funding is so important to us and we really hope that this presentation will highlight who we are and what we do so that we can receive further support from other financial resources."
PGP grants are awarded through FHLB Dallas member institutions, such as Peoples Bank, to assist with the operational needs of nonprofit, community-based organizations involved in affordable housing and community development. Partnership grants are based on cash contributions of $500 to $5,000 made by FHLB Dallas member institutions, in which FHLB Dallas matches at a 3:1 ratio. Both years, Peoples Bank made a $5,000 contribution through the PGP to Compassion's Foundation, Inc., and FHLB Dallas matched that contribution 3:1 for a total PGP grant of $20,000.
"With the first grant, we were able to hire two additional part-time employees," said Mrs. Atkinson. "This second grant will allow us to keep them on staff for another year, which has really improved the efficiency and operation of our organization, not to mention it has also alleviated a lot of stress for our volunteers."
Compassion's Foundation, Inc. was established in 2007 to provide domestic violence services to vulnerable populations of the community. In 2009, the organization purchased its building, and in January 2010, it opened as a certified 24-hour shelter.
Compassion's Foundation, Inc. operates primarily through volunteers and donations. It provides a variety of services such as food, clothing, job training, counseling, and medical referrals to its clients. Compassion's Foundation is a member of the Arkansas Coalition Against Domestic Violence and networks with other shelters throughout the area to provide optimal care for those seeking its services. Mrs. Atkinson and other volunteers coordinate shifts during the week, while the part-time employees work evening and weekend shifts.
"It's a huge relief for our volunteers to have these shifts covered by the part-time employees," continued Mrs. Atkinson. "It was very difficult coordinating schedules and filling all of the shifts, especially since many of our volunteers also work full-time. We really hope that once this funding is gone, other resources will become available to us. Our organization depends on the support of organizations like FHLB Dallas and Peoples Bank, and we feel so blessed for what these two entities have given us."
Jonathan Baird, chief financial officer at Peoples Bank, worked with the Compassion's Foundation, Inc. both years to obtain the PGP funding.
"Peoples Bank is very proud to support the Compassion's Foundation, Inc. through the PGP for a second consecutive year," said Mr. Baird. "We are thankful to be in a position to contribute to such a worthy organization, as they protect a very vulnerable group within our community."
State Senator Percy Malone (District 26) and Magnolia Mayor Parnell Vann attended yesterday's presentation and praised Compassion's Foundation, Inc. on the services it provides to the community.
"It is always a pleasure to support an organization that works so diligently to serve needy populations within our community, such as Compassion's Foundation, Inc.," said Mayor Vann. "As a resident of this community, I am thankful for the services Compassion's Foundation, Inc. provides, and its efforts to protect victims of domestic violence. I am also appreciative to the organizations that have provided financial support for the Compassion's Foundation, Inc., which has allowed them to continue the work they do. The funding from Peoples Bank and FHLB Dallas demonstrates the collaboration and partnership that our community organizations need in order to move forward in these tough economic times."
For more information regarding FHLB Dallas and its grant programs, please visit fhlb.com.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.4 billion as of September 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
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The photo is also available via AP PhotoExpress.
