I’m pleased to share that the Community Foundation Board recently approved two policy changes which will encourage endowment growth.
- We are lowering our fee, effective January 1st, to 1%. A lower fee will increase the net income and better support charities.
- We are adding an array of services to help charities build their endowments managed by the Community Foundation. As part of this process, we’ll be meeting with the nonprofits’ staff and boards to discuss their role in growing their endowment, and how through encouraging charitable planned giving, we can help increase the number and size of their gifts.
As the Community Foundation continues to focus on community needs through leadership work and initiatives, it is critical that we keep our service standards high for our donors and fundholders who have built the Community Foundation. Turning our stewardship attention towards our nonprofit fundholders is a great combination of objectives. By helping nonprofit fundholders increase their funding, we help them sustain and increase their impact in the community.
Many local nonprofits invest their endowment funds at the Community Foundation of Western Nevada. Some of these endowments are established by their passionate donors through gifts, frequently estate gifts, to the Community Foundation. Some are set up by the organizations’ leadership. Reasons for asking the Community Foundation to manage their endowment include:
- The principal is well invested and produces the maximum income.
- Well-meaning charity boards can’t accidentally violate their endowment rules such as spending the principal or borrowing against it.
- The Community Foundation tracks and complies with all donor restrictions.
Are you involved with an organization that has an endowment managed by the Community Foundation? Would you like to talk about ways to encourage stronger growth? Perhaps you’re involved with a charity in town that could benefit from the establishment of an endowment? Would you like to leave an unending gift to your favorite nonprofit through your will or trust? If you answered,”yes” to any of these questions, please give me a call.
Chris Askin, President, and CEO, 775-333-5499
Connecting people who care with causes that matter