Community Foundation of Jackson County Endowment Funds Pay Out More Than $350,000
JACKSON COUNTY, Iowa — The Community Foundation of Jackson County recently announced $352,510 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 Community Foundation of Jackson County 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.
Endowment funds help organizations like the Maquoketa Community Cupboard.
“The endowment payout will assist the Maquoketa Community Cupboard in paying maintenance costs for the new building,” said Jeff Dadisman, who oversees operations at the Community Cupboard. “It will also go toward covering utilities and monthly expenses associated with the building.”
Multiple nonprofits have established endowment funds through the Community Foundation of Jackson County. 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.
“These endowments provide a tangible way for families and community members to give back to our area forever,” said Mary Jo Gothard, the foundation’s 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.”
To learn more, visit dbqfoundation.org/cfjc.