Allamakee County Foundation for the Future Endowment Funds Pay Out More Than $115,000
ALLAMAKEE COUNTY, Iowa— The Allamakee County Foundation for the Future recently announced $115,120 in agency and donor-advised endowment payouts for fiscal year 2019.
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 the Allamakee County Foundation for the Future to benefit charitable causes.
These funds are invested and pay out annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations forever.
Postville District Dollars for Scholars has big plans for its 2019 payout. “Postville District Dollars for Scholars will be using the $500 endowment payout from the foundation to enhance one of our $500 base scholarships going to the Class of 2019,” said Dave Koopman, fund representative. “We thank the Community Foundation for their support of our efforts to further the education of our graduates.”
Endowment funds help organizations like the Driftless Area Education and Visitor Center. The center has used past payouts to establish a scholarship fund for Allamakee County graduating seniors entering into the fields of natural resources, biology and wildlife. Future payouts will be used to defray the cost of transportation for school field trips to the visitor center.
Multiple nonprofits have established endowment funds through the Allamakee County Foundation for the Future. Nonprofit leaders look to the foundation to hold their organizations’ endowments because the reliable source of funding helps them to 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.
“Endowment funds are permanent and ensure that the causes we love are funded today and tomorrow,” said Betty Steege, Allamakee County Foundation for the Future coordinator. “Each fund is unique to a donor’s dreams for the future of Allamakee County.”
For more information, or to give online, visit dbqfoundation.org/accf, email firstname.lastname@example.org or call 563.586.2046.