Foundation for the Future of Delaware County Endowment Funds Pay Out $88,000

DELAWARE COUNTY, Iowa— The Community Foundation of Delaware County (FFDC) recently announced $88,340 in agency and donor-advised endowment payouts for fiscal year 2018.

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 FFDC 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.

Endowment payouts help organizations like the Manchester Library thrive.

“Our board is currently studying an exciting new project the endowment payout will help fund,” said Kristy Folson of the Manchester Library. “ We are so pleased to have this annual support that gives us both a cushion and a spark to advance our service to the community.”

Several nonprofits like the Manchester Library have established endowment funds through FFDC. Nonprofit leaders look to the Community Foundation to hold their organizations’ endowments because the reliable source of funding helps them to respond to emerging needs as well as to 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.

“Whether it’s ensuring bright futures for youth or creating small miracles in the heartland, these funds help sustain the crucial missions of nonprofits in Delaware County so they can continue to enrich lives forever,” said Jerry Burke, FFDC board president. “Each fund is unique to a donor’s dreams for the future of Delaware County.”

For more information about the Foundation for the Future of Delaware County, visit www.dbqfoundation.org/FFDC.

# # #

The Foundation for the Future of Delaware County 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, businesses, and organizations to establish endowment funds that will provide grant awards for years to come. To learn more, visit www.dbqfoundation.org/ffdc.