FORT COLLINS — Ray Caraway, 17-year president and CEO of the Community Foundation of Northern Colorado, will leave his post Sept. 4 to take a leadership role with a New Mexico foundation.

Caraway will become CEO of the JF Maddox Foundation, a private foundation based in Hobbs, New Mexico. Richard Fagerlin, a member of the community foundation’s board of trustees, will become interim president and CEO in the fall.

Caraway’s departure ends a highly influential tenure, during which he and the community foundation have made an impact on the Northern Colorado region. 

“Ray has been — by any measure — a terrific CEO for the community foundation,” said Mark Driscoll, chair of the foundation’s board of trustees. “He has been its leader and the driving force behind the foundation’s success.” 

The foundation has contributed more than $88 million during Caraway’s 17 years into numerous charitable causes. 

Caraway’s vision also led to creating the Regional Leadership Initiative, designing the annual Water Literate Leaders class with the Colorado Water Center, and most recently, establishing the Hach Center for Regional Engagement to act as a convener for Northern Colorado citizens to work together to lead visionary community development for our area.

The foundation also played a leadership role in revitalizing downtown Loveland, turning an area manufacturing company into a philanthropic legacy, modernizing and then donating Sky Corral Ranch to serve as conference and retreat center.

Under Caraway, the community foundation has also become a force for inspiring regional cooperation to confront community challenges.  

“The people who have served as champions for our many projects and initiatives over the years would be too numerous to list, but little would have been achieved without their efforts,” Caraway said. “I am so thankful for all the donors, board and committee members, staff, community leaders, and friends who have encouraged and supported my work at the foundation.”  

That work also includes projects such as the Veterans Plaza of Northern Colorado in Fort Collins, Mrs. Walsh’s Garden in Estes Park, and raising millions for fires, floods, hurricanes, and COVID-19. He also facilitated establishing the Eastern Colorado Community Fund, which now serves six counties in northeastern Colorado. 

“The foundation is viewed as a successful convening organization and has a track record of executing any project the team decides to take on,” Driscoll continued. “Ray is leaving the foundation in a great place. He’s developed a talented team, the financial position is strong, and the reputation of the foundation is second to none; this makes us all very proud.” 

The foundation’s total assets under management during his tenure have increased by almost tenfold, reaching around $132 million for the fiscal year, which ended June 30.