Grand Mound Community Impact Endowment awards $1,000 to Grand Mound American Legion Post
A new flag pole will be raised in one local cemetery thanks to an area betterment fund.
The Grand Mound Community Impact Endowment, a fund of the LincolnWay Community Foundation (LWCF), has granted $1,000 to the Grand Mound American Legion Post to erect a new flag pole with a lighted flag in their local cemetery.
Since 2012, the Community Impact Endowment has been dedicated to meeting the needs of the Greater Grand Mound community. The organization supports a community project every year with input from the community.
“Our purpose was to furnish a fund to direct tax deductible giving with proceeds to be used for Greater Grand Mound community needs,” says Director Don Kent. “To date, community members have contributed more than $25,000 towards this fund, which will continue to support Grand Mound for many years to come.”
The fund has supported causes in Grand Mound including a new chair lift in the local history museum, new lights at the local ballpark, and building improvements at the community building.
The Grand Mound Community Impact Endowment is one of several Western Clinton County causes that relies on earnings from an endowment fund at the LWCF. This year, organizations received more than $64,000 in endowment payouts. Nonprofit organizations and community members can create endowment funds at LWCF 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.
Donors who give to endowments through a community foundation may also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“The LincolnWay Community Foundation inspires communities by connecting people with causes and resources for all generations,” said LWCF Executive Director Pat Henricksen. “Thanks to the support of local donors, these dollars will continue to support local causes for many years to come.”
For more information about LWCF, visit www.dbqfoundation.org/LincolnWay.