Dyersville area nonprofits receive $55,000 in endowment payouts.
The Dyersville Area Community Foundation (DACF) recently authorized $55,110 in agency and donor-advised endowment payouts for fiscal year 2016.
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 DACF 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.
More than 10 Dyersville nonprofits have established endowment funds through DACF. 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 vehicle for families to give back to their home towns forever,” says Nancy Dunkel, DACF Executive Director. “It is because of the generosity of donors and the commitment of area organizations that we are able to continue to provide the support needed for the future of the Dyersville Area.”
Thanks to gifts made to the DACF endowment fund, the Foundation granted $5,000 to local nonprofits in 2015. These grants supported nonprofits like the New Vienna VFW.
Read more stories about the impact we’re making in the Dyersville Area by visiting www.dbqfoundation.org/DACF.