After spending nearly 23 years growing The Community Foundation of the Rappahannock River Region into a nonprofit organization holding $60 million in assets and 217 donor funds, Teri McNally is ready to settle into a slower pace of life.
McNally has run The Community Foundation since 2002, just five years after its founding. McNally is one of only two chief executives the Community Foundation has had and easily the longest-tenured (she said the first, Steven Miller, served from 1998 to 2002).
When McNally started with the Foundation, the asset base was about $870,000. Two-plus decades and lot of 60-hour weeks later, McNally and her staff have built the Foundation into a powerhouse that has given away about $22 million in the form of donations to local nonprofits, scholarships and more. She said future gifts are in the pipeline that should drive the Foundation’s asset base to more than $100 million. A team of investment advisers oversees the assets.
Had it not been for a tragedy, McNally would have retired at the end of this month. Originally, she planned for the last few months of her time with the Foundation to be spent easing the transition for Zach Hatcher, who was poised to take over the CEO role in August.
“It was a great fit,” McNally said of Hatcher.
Hatcher, 43, and his partner, 46-year-old Chris Kucera, died in a single-engine plane crash on July 22 shortly after takeoff from the Long Island MacArthur Airport in Islip, N.Y. Kucera was the pilot, and they were the only two on board. Longtime Community Foundation supporters Michele and Arash Mansouri started The Chris Kucera and Zach Hatcher Fund at the Foundation in memory of the couple.
Several months after the fatal crash, the Community Foundation hired executive search firm Koya Partners to find McNally’s successor. Interviews for the position are expected to begin in January. McNally bumped back her retirement date to March 31 and hopes to still be around when her successor starts.
Foundation Board of Governors President Sharon Schmidt praised the impact McNally has had on the Foundation and community.
“Teri’s 20-plus years of leadership have left an indelible mark on our community. Her unwavering commitment to the Foundation has made us all better,” Schmidt wrote in an email to the Free Press. “Teri’s exceptional leadership has made serving as board president not only a privilege but an effortless experience.”
McNally’s retirement plans include visiting with friends and family, taking classes, traveling, reading and generally enjoying a slower-paced schedule while remaining in Fredericksburg. She has a son and two grandchildren (and a third grandchild on the way) in Staunton.
While she’s looking forward to retirement, she is proud of her time with The Community Foundation. McNally said she has enjoyed working with the Foundation’s talented board and staff over her years, helping countless nonprofits and leaving a lasting legacy.
“I’ve just been super lucky to be in front of people who want to make a difference in the community,” she said.
Bill Freehling covers local business for the Fredericksburg Free Press. He can be reached at: [email protected].
