River Bluff Community Foundation Endowment Funds Pay Out More Than $27,000
CLINTON, Iowa — The River Bluff Community Foundation recently announced $27,550 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 River Bluff 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 payouts help organizations like the Clinton Area Showboat Theater.
“Our endowment is fairly new. The board has decided to use this year’s distribution to help purchase some new wireless microphones necessary for the theater,” says Dave Sivright, who started the endowment fund and is also the theater director. “We’re excited to have the endowment and we hope that our supporters will consider supporting the theater through the fund.”
Multiple nonprofits have established endowment funds through the River Bluff 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.