• on February 19, 2020

Conservation Easement is Finalized

The following statement is from Brett A. Loftis, Chief Executive Officer of Crossnore School & Children’s Home:

Brett Loftis

I am thrilled to announce that Crossnore School & Children’s Home has finalized the $6.5 million dollar conservation easement with Piedmont Land Conservancy (PLC). PLC is purchasing the development rights to 92 acres of land on our Winston-Salem campus farm. This is an exciting time for the organization, and we are thrilled that these 92 acres will be protected green space forever!

The last three years of becoming a fully merged organization and addressing deferred maintenance issues on our physical campuses resulted in the depletion of funds in our reserve account. In addition, Crossnore took a loan from our endowment (which is held in the Crossnore Children’s Foundation) to cover expenses related to several capital projects. Therefore, a portion of the PLC payment will be used to repay the outstanding loan to the endowment.

The remainder of the money will be used to replenish our operating reserve account, create a capital reserve account as well as a strategic reserve account. These reserve accounts will allow us to address unexpected expenses related to operating, capital and strategic needs without having to borrow from the Crossnore Children’s Foundation in the future.

Crossnore is a financially healthy organization with more than $30 million invested in our endowment. The payment from PLC is strengthening our financial health and providing the organization flexibility around unexpected expenses. We are so pleased that this project is a win/win for Crossnore and for the Winston-Salem community.

With additional questions, please feel free to contact me, Brett Lofits, CEO, at bloftis@crossnore.org or Meribeth Robinson, Executive Director – Triad Region, at mrobinson@crossnore.org.

farm

Racism is Trauma

Crossnore School & Children’s Home exists to be a sanctuary for children and their families and racism destroys sanctuary. Racism is trauma and is part of systemic community trauma that has long term negative impacts on people and communities of color. Crossnore believes that black lives matter, and we are committed to building an anti-racist organization and supporting the development of racial equity in our communities. 

To read more about Crossnore's stance on racial equity, the Board of Trustee's Anti-Racist Statement, and to find other resources, please click HERE

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