Allamakee County Community Foundation Endowment Funds Pay Out More Than $83,000
The Allamakee County Community Foundation recently authorized $83,000 in agency and donor-advised endowment payouts for fiscal year 2017.
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 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. Any earnings beyond the 5% are reinvested.
Endowment payouts help nonprofits like St. Patrick School in Waukon. The nonprofit has used previous payouts to ensure long-term financial security, expand programming, and offer retirement plans for teachers.
“Our endowment has allowed us to expand our programming to offer 21st century learning to keep our children and our teachers going at the same pace so they can learn real-world skills and survive out there after they leave St. Pats,” said Fahey.
More than 20 Allamakee County nonprofits like St. Pats have established endowment funds through ACCF. Nonprofit leaders look to the Community Foundation to hold their organizations’ endowments because the reliable source of 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 also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“Endowment funds are permanent and ensure that the causes we love are funded today and tomorrow,” said Betty Steege, ACCF Foundation Coordinator. “Each fund is unique to a donor’s dreams for the future of Allamakee County.”
For more information about the Allamakee County Community Foundation, visit www.dbqfoundation.org/ACCF.
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The Allamakee County Community Foundation (ACCF) was formed in 2005 as an affiliate of the Community Foundation of Greater Dubuque. The founding members of the organization had a vision to ensure that our community's charitable programs were supported now- and in the future. We work together with many individuals, families, business, and organizations to establish endowment funds that will provide grant awards for years to come. To learn more, visit www.dbqfoundation.org/accf.