The Sheridan County Community Foundation is inviting residents and donors to stop by Oscar’s, 845 Main St, this Wednesday, Nov. 1 between 8 a.m. and 1 p.m. as they kick-off the annual November Match Month campaign.
Enjoy complimentary refreshments while visiting with Foundation staff and board members. Donations will be accepted during the event and throughout the month of November.
For the 8th year, your local Sheridan County Community Foundation is participating in the ‘Match Month’ campaign generously sponsored by the Dane G. Hansen Foundation, in which funds raised locally are matched 1:1 by the Hansen Foundation, up to $50,000.00. These funds are then added to SCCF’s large "Cultivate Sheridan County" endowment fund which has been growing over the past several years and currently sits at over $830,000.00.
What is an endowed fund?
An endowment fund, quite simply, is money set aside (invested) to earn revenue to fund some type of charitable activity. Unlike a typical investment fund, the beneficiary of an endowment fund is a nonprofit organization instead of individual investors.
The principal value of the endowment fund is kept intact, while the investment earnings can be distributable dollars used for charitable grants to nonprofits. Thus, an endowment fund can be held permanently, allowing donors to support causes they care about in perpetuity.
Donations to endowment funds are tax deductible. Donors often set up endowment funds so they can receive charitable tax benefits immediately upon making their donation, while maintaining the social-good grantmaking power for the long-term.
Once the fund has reached $1 million in principal, the Foundation board of directors will open it up for grant applications, with an estimated yearly payout of approximately $50,000.00 in grant proceeds. These funds will be available along with the existing Dane G. Hansen Foundation Community Fund for which SCCF receives $50,000.00 annually from the Hansen Foundation to distribute via grant applications accepted monthly by the last day of each month (visit www.growsheridancounty.org/grants for more information).
This year, the Foundation is setting a minimum local fundraising goal of $70,000.00 because, if reached, not only will these funds be matched by the Hansen Foundation’s $50k match but also by an additional $70,000.00 in matching funds provided by the Patterson Family Foundation, Kansas City, through a new grant program administered by the Kansas Association of Community Foundations (KACF).
As an incentive for reaching the $50k matching goal set by the Hansen Foundation, SCCF will be eligible for an additional bonus grant of $50k, with $5k dedicated to SCCF’s immediate operating needs and $45k added to SCCF’s operating endowment fund to support yearly budgeting needs.
All campaign funds combined equal a grand total of $240,000.00 available to benefit Sheridan County for years to come.
No donation amount is too big or too small for this challenge. All with an affinity for Sheridan County and the communities therein are encouraged to contribute and help make a difference in the lives of those in the area for years to come. Donations can be mailed to SCCF, PO Box 445, Hoxie, KS 67740; dropped off at Pratt Law Office, 736 Main St., in Hoxie or online at www.gnwkcf.org/donate/sheridan-match.
If you have any questions related to the November Match Month campaign, want to learn more about grant opportunities, are interested in setting up a grant/scholarship fund of your own, or want to leave a legacy gift in your estate, do not hesitate to contact SCCF Executive Director Karl Pratt at 785-675-1240 or firstname.lastname@example.org.
SCCF is an affiliate of the Greater Northwest Kansas Community Foundation based in Bird City. The foundation seeks to encourage, prudently manage, and distribute charitable contributions to improve the quality of life of Sheridan County residents, now and in the future. To learn more, visit www.growsheridancounty.org. Connect with SCCF at www.facebook.com/sheridanccf.