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Trust's investment profits produce outpouring of grants

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Posted at 1:14 PM, Sep 18, 2021
and last updated 2021-09-18 16:14:08-04

PHOENIX (AP) — Investments of a Phoenix-based charitable trust's did well over the last 15 months and dozens of social service groups, arts organizations and other nonprofits still navigating fallout from the pandemic are now benefiting in a big way.

The Virginia G. Piper Charitable Trust last Monday gave a record $123 million to 71 organizations in Maricopa County.

The trust in 2020 had awarded more than $37 million to community organizations, up from its average of about $22 million annually.

The $123 million of "Now is the Moment" grants distributed this month ranged from $100,000 to $7.5 million.

They're meant to enable the recipients to move from crisis and recovery to long-term sustainability.

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