Nonprofits Receive $2.47 Million in 2017 Endowment Payouts
Last month, the Community Foundation of Greater Dubuque (CFGD) authorized $2,473,140 in endowment payouts for fiscal year 2017, up from $2,151,140 last year. This total will rise as CFGD continues to calculate endowment payouts for two new affiliate foundations in Clinton County.
Endowment payouts are generated by more than 650 endowment funds established by donors and nonprofits through CFGD and its eight rural affiliate foundations. Endowment funds are invested and pay out 5% annually to designated nonprofits; any earnings beyond the 5% are reinvested.
These annual payouts offer a reliable source of funding to help nonprofits respond to emerging needs, as well as to plan for the future and sustain their good work. Donors who give to a community foundation endowment can also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“Endowment funds help to diversify nonprofits’ funding and make their operations secure so they can deliver on their missions and continue to enrich life in our community forever,” said Nancy Van Milligen, CFGD president and CEO. “Each fund is unique and the payouts fund everything from special projects to facility repairs and general operations.”
Since the Foundation’s inception in 2002, more than 9,500 community members have made donations or created funds at CFGD. As the largest annual grantmaker in the greater Dubuque region, the Foundation has made a total of $29.8 million in grants to nonprofit organizations, including $6.4 million last year alone.
Caption: Marian Meyer, director of the Bellevue Public Library (left), and Katie Decker, CFGD grants management coordinator, celebrate the library’s 2017 endowment payout, which will allow the nonprofit organization to update its selection of children’s books.
ALSO IN THIS ISSUE:
- Great Give Day returns on Thursday, May 11
- Endowment fund helps nonprofit make a difference for women and children
- Nonprofits receive 2.47 million in 2017 endowment payouts
- Grade-Level Reading initiatives make difference for kids in rural communities
- Vision To Learn hits the road in Northeast Iowa
- Inclusive Dubuque report tracks progress in equity
- Key findings from Project Hope needs assessment
- Northeast Iowa Food and Fitness creates healthy communities