09 Dec A Great Opportunity to give to the Passages To The Future Endowment Fund with funds matching
The Whitley County Community Foundation was recently approved to participate in Giving Indiana Funds for Tomorrow, the sixth phase of an initiative of Lilly Endowment Inc. Also known as GIFT, the program is challenging the local donors to grow the Community Foundation’s endowed assets by more than $1 million by 2016.
In Whitley County, the GIFT Campaign has two facets: a challenge for designated endowments, such as scholarships or funds established for a specific purpose, and another challenge for unrestricted endowments.
Gifts made to designated endowments such as a scholarship fund or an agency endowment, will be matched 50 cents to the dollar. That means a gift of $100 instantly becomes $150; a $10,000 gift becomes $15,000. A maximum match of $25,000 will be allocated to any one fund. The match is available on a first come basis and the funds will available until they have been expended or until March 31, 2016, whichever comes first. The Community Foundation has been granted $250,000 by Lilly Endowment for this portion of the GIFT initiative.
Gifts to the Community Foundation’s “Greater Good” Fund will be matched dollar for dollar meaning a gift of $50 becomes $100; $5,000 turns into $10,000. “That kind of return on investment is hard to beat,” said September McConnell, Foundation director. “These contributions come with the blessings of our donors to ‘use it where the need is greatest.’ “
The unrestricted endowment provides funding that allows the Community Foundation to make grants to local projects twice a year. In the past, these contributions have helped to build a new senior center, expand the YMCA’s daycare facility, provided inventory for local food pantries, stocked diapers for families in need, and assisted animals at the Humane Shelter, among many other projects. An additional $250,000 has been granted by Lilly Endowment for this portion of the GIFT challenge.
“When the Community Foundation grows, Whitley County truly reaps the benefits,” said Rob Marr, president of the WCCF board of directors. “Through the continued generosity of Lilly Endowment, this challenge match will ultimately allow the Foundation to grant more money to meet community needs.” Marr noted that the grant is in effect until March 31, 2016 or until the challenge has been fulfilled.
Sometimes there is a misconception that philanthropy is only for the very wealthy. The reality is that most gifts were made thanks to modest donations from local residents. There are several ways to make a gift – cash, appreciated securities, real estate, even life insurance — and each has its own distinct advantage. All gifts to the Whitley County Community Foundation are tax deductible. For a full list of designated endowment funds held by the Foundation visit www.whitleycountycommunityfoundation.org, or contact the office at (260) 244-5224 to learn more about the GIFT VI Challenge.WCCF Passages to the Future Endowment Fund Return Form