Community Foundation of Jackson County Endowment Payout Supports Bellevue Schools
Mary Jo Gothard, executive director of the Community Foundation of Jackson County, presented Bellevue High School Principal Jeff Recker and Superintendent Tom Meyer a ceremonial check of $1,790 for the Bellevue Community Schools 2018 endowment payout. This year, CFJC endowments paid out $340,720 in agency and donor-advised endowment payouts.
Bellevue Community Schools plan to use the funds to purchase new marching band equipment.
Several nonprofits like Bellevue Community Schools have established endowment funds through CFJC. 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 initiatives. 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.
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.