Foundation for the Future of Delaware County endowment funds pay out $72,000 to Delaware County nonprofits

The Foundation for the Future of Delaware County (FFDC) recently authorized $72,870 in agency and donor-advised endowment payouts for fiscal year 2016.

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 FFDC to benefit charitable causes. These funds are invested and pay out 5% annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations forever. Any earnings beyond the 5% are reinvested.

More than 20 Delaware County nonprofits have established endowment funds through FFDC. 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 plan for the future 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 funds help to preserve our area nonprofits forever,” said Jerry Burke, chair of the FFDC Board of Directors. “Each fund is unique and the payouts fund everything from special projects to facility repairs and general operations.”

“None of this would be possible without the strong support of our donors and the continued commitment of our area nonprofits,” says Bev Rahe, FFDC executive secretary. “It is because of them that we are able to continue to provide the support needed for the future of Delaware County.”