Dave & Sheri Herold: Supporting the Future of Local Education
Dave Herold, superintendent of Allamakee Schools, and his wife Sheri share a passion for education.
When the Herolds decided they wanted to support area education needs in Allamakee County, the Allamakee County Community Foundation (ACCF) was there to help establish a fund that would benefit their community forever.
"We've had a lot of community support," says Dave. "This is a great place to live and grow up, and we wanted to give something back to the community for generations to come."
Dave shares that one area of education he believes needs more support is local libraries.
“As a former English teacher, I understand that libraries have changes,” he says. “What we wanted to do was to be able to sustain that. I could see us helping to fund those [HB1] through our endowment.”
Dave and Sheri used "Seeds for Success," an ACCF program that provides $2,500 to new family or corporate endowments to match a gift of $7,500 for a total of $10,000. Once an endowment reaches the $10,000 milestone, there is an annual payout of 5% to help support charitable causes every year, forever.
The Dave and Sheri Endowment for Education is just one of several endowment funds at ACCF. This year, ACCF announced $83,000 in agency and donor-advised endowment payouts for fiscal year 2017. Nonprofit organizations and community members can create endowment funds at ACCF 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.
Community foundations are charitable organizations that administer funds to benefit their communities and improve the lives of people in their geographic region. Gifts to endowed funds may be eligible for the Endow Iowa 25% State Tax Credit, in addition to the federal deduction for charitable gifts.
"It's a great way to give something back," adds Dave. "It multiplies itself many fold."
For more information about the Allamakee County Community Foundation, visit www.dbqfoundation.org/ACCF.
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