Community Foundation of Jackson County Endowment Funds Pay Out More Than $334,000

The Community Foundation of Jackson County recently announced $334,199 in agency and donor-advised endowment payouts for fiscal year 2017.

Community foundations are charitable organizations that administer funds to benefit their communities and improve the lives of people in their geographic region. Nonprofit organizations and community members can create endowment funds at CFJC to benefit charitable causes. 

These funds are invested and pay out 5% annually. Nonprofits rely on this sustainable source of funding to support operations during challenging financial times or to fuel new initiaties. Endowment payouts also support scholarships that help Jackson County students to pursue higher education. Since 2014, 281 students have received more than $315,000 in scholarship dollars from CFJC endowment funds.

Endowment payouts help nonprofits like the Ohnward Fine Arts Center. Located in Maquoketa, Iowa, the nonprofit was built 12 years ago by a team of volunteers.  The organization used funding from its endowment to purchase a new roof last year.

“I’ve worked for nonprofits most of my life, and I think it’s great that we can let some money grow and that we can rely on the payout every year,” said Executive Director Richard Hall. “The arts are important. We’re the only performing arts center in Jackson County and we give a lot of rural people the opportunity to participate in the fine arts.”

Several nonprofits like Ohnward have established endowment funds through CFJC. Nonprofit leaders look to the Community Foundation to hold their organizations’ endowments because the reliable source of funding helps them respond to emerging needs as well as to plan and sustain the good work they do.

Donors who give to endowments through a community foundation also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.

“These endowments provide a tangible way for families and community members to give back to our area forever,” says Mary Jo Gothard, CFJC Executive Director. “With the generosity of donors and the commitment of area organizations, we are able to continue to provide this necessary support for the future of Jackson County.”

For more information about the Community Foundation of Jackson County, visit www.dbqfoundation.org/CFJC.