LincolnWay Community Foundation Endowment Funds Pay Out Nearly $79,000
The LincolnWay Community Foundation recently announced $78,800 in endowment payouts for fiscal year 2020.
“These funds are used to strengthen nonprofits — by supporting programming, capacity-building and more — so they can make essential resources accessible to all our communities,” said Pat Henricksen, executive director. “We partner with donors and nonprofits to transform generosity into actions that improve quality of life in our region for everyone.”
Nonprofits and community members can create endowment funds at the LincolnWay Community Foundation to benefit charitable causes. These funds are permanently invested and pay out annually, providing a reliable source of income to sustain nonprofits forever.
Nonprofit leaders look to the Foundation to hold their organizations’ endowments because the reliable source of annual funding helps them respond to emerging needs as well as plan and sustain the good work they do.
Donors who give to endowments through a community foundation benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“Endowment funds offer a tangible option for families and community members to give back to causes close to their hearts in our area forever,” said Henricksen. “Thanks to generous donors and committed nonprofits, we can continue to provide this necessary support for the future of all our communities in the DeWitt area.”
For more information, visit dbqfoundation.org/lwcf.