Foundation Announces Non-Profit Endowment Challenge
Posted
Tim Robertson-trobertson@timesuniononline.com
The Kosciusko County Community Foundation announced a new initiative Wednesday aimed at helping local non-profits stay afloat in the current economic downturn.
KCCF Executive Director Suzie Light announced the initiative, called the Agency Operating Endowment Challenge, during the community foundation's annual meeting."In tough economic times like these, we realize that operating dollars can be hard to come by," Light said. "We also realize that an organization's friends and supporters like it when their gifts can be leveraged."
Light said the community foundation has dedicated $150,000 to assist local agencies in building their operating endowments. The KCCF will match $1.50 for every $1 contributed toward a new or existing endowment supporting operating costs of a local non-profit.
To qualify, the endowment must be established at the KCCF or be an existing KCCF endowment. The KCCF will hold a meeting Dec. 17 for non-profit agencies interested in participating.
Light said the challenge focuses on operating funds because they are the hardest for non-profits to raise.
"People like the idea of giving for a specific project or program, but sometimes don't understand how a project or program can't go forward without money for staff, materials and utilities to run the program," she said.
Light said an endowment fund can become a dependable source of income for agencies to count on each year.
"The beauty of an endowment fund is that organizations know annually that will be coming to them," said Light. "It doesn't take the place of donors who contribute to an agency, but it helps."
The launch date for the new initiative is Jan. 2, and it will run through June 30.
"We believe that, by offering this challenge, we can help non-profits strengthen their ability to operate in the future," said Light. "Any time is a good time to build endowment."
For more information, call the community foundation at 574-267-1901 or visit www.kcfoundation.org
