'There Are Funds Available': Community Foundation Of Boulder County CEO Explains Unspent Donations
BOULDER COUNTY, Colo. (CBS4)- Two-and-a-half months after more than 1,000 homes and businesses were destroyed by the Marshall Fire, most of the money donated through the Community Foundation of Boulder County remains unspent.
This fire stole homes and changed lives. Around Mulberry street in Louisville, there's plenty of evidence of that. Reina Pomeroy's family is in a rental now. Their house is rubble. She is part of the victims' group Marshall Together.
"Many of our members have received checks from the community foundation which has been really generous, but they wonder about the remainder."
Donations through the Community Foundation of Boulder County have totaled some $36 million.
A total of $8 million was given initially for immediate use by fire victims. But $27 million is sitting without interest in the foundation's coffers.
Tatiana Hernandez is the Community Foundation of Boulder County CEO.
CBS4'S Rick Sallinger asked her, "What do you say to fire victims who say, 'I need this money now?'"
She replied, "There are funds available and hopefully people have made use of those resources."
Millions have gone to fire victims, mental health programs, those who lost jobs and more, but IRS rules prevent the distribution of the rest to individual victims now.
Hernandez added, "We have to make sure that the funds are used for a charitable purpose. That is incredibly difficult to do once those funds are given to an individual directly."
The Marshall Together victims want to meet with the foundation.
"I think people are curious where the money has gone," said Pomeroy.
They hope it helps not just those on Mulberry Street but all those trying to come back.
No one has claimed that any of the money has been improperly used.