Dyersville Area Community Foundation Endowment Funds Pay Out Nearly $78,000
Dyersville, Iowa — The Dyersville Area Community Foundation recently announced $77,550 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 Dyersville Area Community Foundation 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 provide dollars for an array of programs, such as a scholarship set up by the family of Lynn Westhoff.
“The Lynn Westhoff Memorial Endowment Fund supports high school seniors in attending their college of choice to pursue a degree in accounting or another business-related field,” said Hunter Westhoff, Lynn’s son.
Multiple nonprofits have established endowment funds through the Dyersville Area Community Foundation. 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 funds help local nonprofits fulfill their missions to grow and develop projects in the Dyersville area. The funds also assist with facility repairs and general operations,” said Melissa Douglas, Dyersville Area Community Foundation coordinator.
For more information about the Dyersville Area Community Foundation, visit dbqfoundation.org/dacf.