Village Foundation changes name
The Village Foundation is getting ready to celebrate 20 years of public service to the community of Bay Village and is changing its name in the process, from The Village Foundation to the Bay Village Foundation. The board of trustees of the foundation voted to modify its name to broaden the recognition that the foundation is THE Bay Village foundation.
This is the second name change for the group that T. Richard Martin founded in 1995 as Play In Bay. Its purpose was to have one community fund to be used for contributions for volunteer projects. The name was changed to The Village Foundation in 1997 at which time it also became a non-profit 501(c)(3) corporation. Charter members donated the startup funds.
After slow but steady growth, we faced two issues that afflict many smaller and medium-sized foundations. First, we found that name recognition was a challenge. For example, many people were confusing The Village Foundation with the Village Project. Secondly, we had a growing sense that there was a disconnect between what the Foundation was doing as it moved forward.
The Foundation went from helping very small community programs to becoming a community coordinator and fundraiser for larger community wide projects such as the Bay Fireworks Fund, thereby giving the Foundation a broader vision as a service group. The solution was to modify the name of the Village Foundation to The Bay Village Foundation to better capture its philosophy and value to the whole community, and to energize its role as the community foundation of Bay Village.
It’s not uncommon for established groups to make a name change, starting again in some sense to rebuild on the marketing and branding fronts. Three main reasons for organizations making such a change are: the name no longer represents what they do; the brand has gotten caught up in confusion with another organization; and for practical reasons.
A name change can go a long way toward resolving any of these and we think changing our name to The Bay Village Foundation helps us to address each of these points.