Fred C. Sears II, President and CEO of the Delaware Community Foundation, announced he plans to retire, effective December 31.
During his 13 years as CEO, DCF has tripled the amount of long-term charitable funds it manages, and assets now stand at more than $285 million.
Over the past two years, Sears also has led the DCF through the transition to its new mission to build a shared vision for Delaware’s future, by gathering knowledge through an online database and focusing the community’s work toward the common good, according to a release.
By the end of 2015, the DCF will launch the state’s first comprehensive community evaluation tool in the form of a publicly accessible website. The site will host a database of statistical information about social, economic and environmental issues, both statewide and by county.
“Now that our board and other Delaware leaders have signaled their strong support for our new role and direction, it seems to me that this is the appropriate time for the mantle of leadership to pass to a new president and CEO,” Sears said. “I am grateful to have had the opportunity to lead the organization through this transformative process.”
Prior to taking on the DCF leadership post, Sears had a 38-year career in banking, most recently as President of Commerce Bank/Delaware.
A long time civic leader and Delaware native, Sears has served on the boards of directors of more than 40 community nonprofit organizations. He also served on many transition teams for political leaders taking office.
“Fred has served us and our state with remarkable distinction. In large measure, his catalytic role has forged our organization’s more prominent position in civic leadership,” said Marilyn Hayward, Chair of the DCF Board. “We will now conduct a national search to find a worthy successor to Fred, an admittedly difficult task.”
The Delaware Community Foundation manages charitable funds for individuals and organizations, and distributes income from the funds as grants and scholarships throughout the First State and around the world.
With approximately 1,200 funds, $285 million in assets and annual grants of about $13 million, the Foundation provides a lasting source of charitable funding.
For information, please call 302.571.8004 or visit www.delcf.org.
