Nonprofits Receive $2.7 Million in 2018 Endowment Payouts
Last month, the Community Foundation of Greater Dubuque (CFGD) authorized $2,741,550 in endowment payouts for fiscal year 2018, up from $2,473,140 last year.
Endowment payouts are generated by more than 700 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 nonprofits.
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 payouts also support grantmaking programs at the Foundation like Grants for Tech, which helps nonprofits like the Dubuque Rescue Mission to build stronger operations through a partnership with the University of Dubuque.
“Endowments help to diversify nonprofits’ funding and make their operations secure so they can continue to enhance the greater good of our community forever,” says 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 10,340 community members have made donations or created funds at CFGD. As one of the largest annual grantmakers in the greater Dubuque region, the Foundation has made a total of $35.2 million in grants to nonprofit organizations, including $5.4 million last year alone.
Visit our Giving Center to discover nonprofit endowment funds in your community: www.dbqfoundation.org/givingcenter.
This story was featured in Giving Matters Spring 2018