In 2009, Roger and Teresa Woodworth established an endowed donor-advised seed fund at Innovia Foundation to benefit general charitable causes the family supports. Rather than funding these causes all at once, a seed fund allows donors to donate a small amount each year for a set period of time until the fund reaches the desired level.
“For us, Innovia Foundation provides two important features,” says Roger. “It was easy to get started and flexible enough to allow us to decide how the funds would be directed to the things we care about.”
Roger and Teresa met at Washington Water Power Company, now Avista. He was a fish and wildlife biologist, and she was a supervisor in the shareholder services department. Roger has since retired as chief strategy officer at Avista and now does consulting work. Teresa is an aspiring author. Their three grown children are all active in supporting the community in various ways.
Roger served as Innovia’s Board Chairman from 2004 to 2006 and guided the development of its strategic plan. He knew it was simply a matter of time before he and his wife joined the growing family of fund founders.
Their vision in establishing this fund is to permanently express their family’s commitment to community needs and provide a greater impact than they could by supporting just one particular cause in a single period of time.
“We wanted to grow our capacity to support the community in a lasting way. It’s a wonderful way to share the rewards of community support with our children,” says Roger.