02 Feb Local Nonprofits Receive Grants Totaling More Than $300,000 from Community Foundation Press Release
Every day at the Community Foundation of Grant County, individuals and families create lasting impact for the betterment of Grant County by ensuring their generosity will benefit generations to come through endowment.
Last week, $316,000 was distributed to 65 local nonprofit organizations that benefit from an endowment fund at the Community Foundation. This Designated Grant Cycle is the first of six grantmaking cycles offered in 2023 by the Foundation.
The grants come from designated funds, which support one or more specific organizations. The funds have been established by the organization itself or by donors to provide a reliable source of support for organizations they care about. This year’s designated fund grants range from $110 to more than $22,000.
“No doubt, nonprofit budgets continue to be challenged. We are grateful for the donors who have established these funds and for the opportunity to provide these designated grants to support the good work of our nonprofits,” said Dawn Brown, Community Foundation President and CEO. “Because the funds are endowed, our nonprofits can count on these grants every year.”
Earnings provide an additional source of annual income for the nonprofit organizations. Each year, a portion of each organization’s fund growth is distributed through a grant and a portion is retained in each organization’s fund for continued growth. Depending on the donor’s intent, the grants will be used for much-needed operating support or for a specific purpose.
“When a nonprofit establishes an endowment fund for itself, it diversifies their income stream, it provides donors another avenue to give, and it allows the nonprofit to focus on its mission instead of managing investments,” Brown added. “When a donor establishes an endowment fund for a nonprofit it cares about, there is no greater gift – it’s truly an investment in the nonprofit’s mission and good work for years to come. So, it’s no surprise when a Board Member, past or present, comes to us to establish an endowment for the nonprofit they’ve dedicated hours of time supporting, they want that organization’s mission to be sustained forever…and so do we. We’re proud to help donors and nonprofits achieve common goals together.”
“The cornerstone of this endeavor is a sound investment and spending policy that centers around sustainability,” said Sherri Rush, Chief Financial Officer. “Because the Foundation Board voted 20 years ago, in 2003, to establish this policy, the investments have continued to grow despite market trends.”
“The market will always have its ups and downs, but because the Foundation’s policy is very conservative, it will always help to mitigate losses,” Rush continued. “Every charitable organization with an endowment at the Foundation benefits from the sound guidance of the Foundation’s Finance Committee, leading to an additional annual funding stream for organizations serving Grant County.”
Designated funds make up 145 of the more than 400 charitable funds held at the Community Foundation. For a charitable organization, an endowment at the Community Foundation is like having their own private granting fund. The larger the fund, the larger the grant received every year.
Since 1984, local charitable organizations have benefited from the hard work of building these endowments, resulting in nearly $13.8 million distributed by their endowments over the past 38 years to support their programs and operating costs.
These organizations also benefit from a one-stop shop including fund management, administration, development and gift facilitation, planned giving options, online giving convenience, toolkits, and capacity-building opportunities.
“Perhaps the greatest impact comes from knowing that dollars given to an endowment today are gifts that will give back, supporting the programs and mission tomorrow, far exceeding the value of the original gift,” said Shelly Jones, Development Manager. “A gift of $50 today will feed a family for one day. But when you give $50 to an endowment at the Community Foundation, it will be combined with donations from other generous people, then the gift is grown by being invested in the endowment pool and could feed a family for years.”
Designated funds are established by donors, board members, and charitable organizations to support their missions. The distributions continue annually, as long as the named organization remains in existence, continues to fulfill the intended purpose, and is in good standing with the IRS.
The Community Foundation of Grant County, Indiana, Inc. is an advocate for local philanthropy and is dedicated to connecting people who care with causes that matter. An effective steward of the community’s charitable resources since 1984, the Foundation works with donors to establish charitable funds and supports non-profit organizations through a variety of grantmaking efforts. The Community Foundation connects people, resources, and causes to promote sustainable impact towards the betterment of Grant County. Currently the Community Foundation holds over 400 different funds that benefit worthy charities and charitable causes in Grant County. For more information, please visit www.GiveToGrant.org or call 765-662-0065.