Don Kent: Grand Mound Endowment
Don Kent moved to Grand Mound in 1939 when he was a senior in high school.
“I lived here ever since, so I guess I’m almost an old-timer in Grand Mound,” he laughs.
He married his late wife, Betty Jensen, after returning from his service in the Army Air Corps in World War II.
“We were very fortunate,” he says with a smile. “I have a deep feeling of gratitude to the community for being able to establish an accounting business, make a living, and raise my family; so, what little I can give back, I’m glad to do it. I like Grand Mound.”
In 2012, Don, along with 30 local families and businesses, started a campaign to raise more than $25,000 to establish the Grand Mound Endowment Fund at the LincolnWay Community Foundation (LWCF), a general fund dedicated to future community needs and helping Grand Mound prepare for unknown challenges.
“We founded the Grand Mound Endowment to give a boost to any unit around town that needs help,” says Don.
In 2017, LWCF endowment funds like the Grand Mound Fund paid out more than $64,000 to support causes in rural Clinton County. These funds will continue to grow to support our area forever.
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 LWCF to benefit charitable causes. These funds are invested and pay out 5% annually, providing a reliable source of income to sustain local causes forever.
Donors who give to endowments through a community foundation may also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“The LincolnWay Community Foundation inspires communities by connecting people with causes and resources for all generations,” said LWCF Executive Director Pat Henricksen. “Thanks to the support of local donors, these dollars will continue to support local causes for many years to come.”
Last summer, LWCF became an affiliate of the Community Foundation of Greater Dubuque (CFGD). Since 2004, CFGD has supported the growth of affiliate foundations in rural communities throughout Northeast Iowa, including Allamakee, Clayton, Delaware, Jones and Jackson counties as well as the Dyersville area. By working with CFGD, these communities have built philanthropic funds in support of schools, churches, health care centers and other needs totaling more than $19 million.
For more information about LWCF, visit www.dbqfoundation.org/LincolnWay.
VIDEO: Don Kent - Grand Mound Endowment
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