In last week’s Foundation Fact Friday post we referenced that we would award more grants than ever before in 2018.  Today, we are excited to elaborate more about how we can make such a tremendous difference in the community this year!

In 2018, the Rush County Community Foundation will provide $508,000 in funding to various agencies, causes, and students.  These dollars are available because donors have gifted the Foundation with contributions to endowment funds, many of which are designated for specific areas of interest.  The Rush County Community Foundation is home to 191 endowment funds, 176 of which are permanently invested and 16 non-permanent “pass-through” funds.  These funds total $17.2 million worth of investment that will forever give back to charitable needs in our community.

The 191 funds we house are specified to impact a cause or need, ranging from funds that provide a scholarship(s) for a certain type of student to funds that support Rush County’s charitable needs at the board’s discretion.  When a donor contributes to the Foundation their dollars are placed into the fund and/or cause they select.  Each and every dollar is invested, providing compounded growth opportunities that ultimately make annual grant awards possible.  The Foundation’s endowment funds are allocated to the following categories (which will be further explained in detail in future Friday articles):

• Donor Advised Funds
• Designated Purpose “Organization” Funds
• Agency Endowment Funds
• Unrestricted Endowment Funds
• Field of Interest Funds
• Operating Funds
• Agency Pass Through Funds
• Scholarship Funds

This year, these various fund categories will expend 4.2% of total assets to release $508,000.  $185,000 of these dollars will benefit community organizations and their needs, with these organizations ranging from churches and cemeteries to critical community nonprofit organizations such as the Rush Memorial Hospital and Rush County Schools.  $90,000 disbursed through “unrestricted endowment funds” will benefit our community as a whole via the competitive community grants program.  Just more than $150,000 will be awarded in scholarship funds, $30,000 will be given to charitable needs through “field of interest” funds, and the Rush County Community Foundation operations will be in-part funded through disbursements from the six operating funds totaling $50,000.  All in all, $508,000 will be distributed to make a profound difference on our students and the wonderful nonprofit agencies that serve our community’s greatest needs, while still preserving assets to increase grant award possibilities in future years.

Every dollar given to the Foundation makes a difference.  When permanently invested, the dollar exponentially grows, allowing us to provide funding to impact charitable causes within Rush County and for Rush County residents.  This year’s fund distribution total is proof of the power of compounded funds and prudent distribution:  the 26 years’ worth of donor support has lead us to this number, a number we anticipate increasing substantially year after year forever.