Ray Caraway, president and CEO of the Community Foundation of Northern Colorado, has resigned after leading the organization for more than 17 years.
Caraway is leaving to become CEO of the JF Maddox Foundation, a private foundation based in Hobbs, New Mexico.
His last day with the Community Foundation will be Sept. 4.
M. Richard Fagerlin, a member of the foundation’s board of trustees, will become interim president and CEO in the fall.
During his time with the organization, Caraway and the Community Foundation have had a profound impact on the Northern Colorado region, supporters said.
“Ray has been — by any measure — a terrific CEO for the Community Foundation,” said Mark Driscoll, chair of the foundation’s board of trustees, in a news release. “He has been its leader and the driving force behind the foundation’s success.”
During the last 17 years, the foundation has contributed more than $88 million to charitable causes.
The Community Foundation has expanded its total managed assets almost tenfold to around $132 million for the fiscal year ending June 30. The foundation also accepted almost $18 million in gifts, setting a record.
Projects the foundation has worked on include the Veterans Plaza of Northern Colorado in Fort Collins and Mrs. Walsh’s Garden in Estes Park. It has raised millions of dollars for relief efforts in response to fires, floods, hurricanes and COVID-19.
Regional projects include designing the annual Water Literate Leaders class with the Colorado Water Center and establishing the Hach Center for Regional Engagement, which acts as a convener for Northern Colorado residents to work together to lead visionary community development for the area.
The foundation also played a leadership role in revitalizing downtown Loveland and modernizing Sky Corral Ranch to serve as a conference and retreat center.
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“The people who have served as champions for our many projects and initiatives over the years would be too numerous to list, but little would have been achieved without their efforts,” Caraway said in a news release. “I am so thankful for all the donors, board and committee members, staff, community leaders, and friends who have encouraged and supported my work at the foundation.”
Caraway is leaving the foundation “in a great place,” Driscoll said.
“He’s developed a talented team, the financial position is strong, and the reputation of the foundation is second to none; this makes us all very proud,” he said.