Jackson County Nonprofits Receive More than $250,000 in Community Foundation of Jackson County Endowment Payouts
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JACKSON COUNTY, Iowa-- The Community Foundation of Jackson County recently authorized $258,550 in agency and donor-advised endowment payouts for fiscal year 2015.
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 CFJC 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 the Maquoketa Area YMCA. The nonprofit has used past endowment payouts to create a child watch area, add health and wellness offerings, and reinvest in its soccer program.
"With every gift to our endowment, our mission grows," said Scott Warren, executive director for the Maquoketa Area YMCA. "We are truly blessed to have such wonderful support from our community."
More than 10 Jackson County nonprofits have established endowment funds through CFJC. 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 for the future 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.
“These endowments provide a tangible way for families and community members to give back to our area forever,” says Mary Jo Gothard, CFJC Executive Director. “With the generosity of donors and the commitment of area organizations, we are able to continue to provide this necessary support for the future of Jackson County.”
For more information on the Community Foundation of Jackson County, visit www.jacksoncountyfoundation.org.