Foundation for the Future of Delaware County Endowment Funds Pay Out More Than $93,000
DELAWARE COUNTY, Iowa — The Foundation for the Future of Delaware County recently announced $93,140 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 Foundation for the Future of Delaware 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 provide dollars for scholarships, like the one set up by the family of Virgil and Carlyn Hunt.
“For 2019, the Virgil & Carlyn Hunt Family Endowed Fund will provide a $2,000 scholarship to a deserving Ed-Co High School graduate,” said James Hunt. “As college tuition rates continue to rise and student loan debt soars, our family firmly believes in giving back so that young people can have a jumpstart in pursuing a degree by lessening that financial burden.”
Multiple nonprofits have established endowment funds through the Foundation for the Future of Delaware 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.
“Whether it’s ensuring bright futures for youth or creating small miracles in the heartland, endowment funds help sustain the crucial missions of nonprofits in Delaware County so they can continue to enrich lives forever,” said Nancy Preussner, Foundation for the Future of Delaware County donor connections coordinator. “Each fund is unique to a donor’s dreams for the future of Delaware County.”
For more information, or to give online, visit dbqfoundaton.org/ffdc, email email@example.com or call 563.920.5590.