LincolnWay Community Foundation Endowment Funds Pay Out More Than $64,000

The LincolnWay Community Foundation (LWCF) recently announced $64,720 in agency and donor-advised endowment payouts for fiscal year 2017.

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 DACF 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.

Several nonprofits have established endowment funds through LWCF. Nonprofit leaders look to the Community 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 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.