Through an organizational endowment, you can generate grants or scholarships in perpetuity for your community. Endowment funds are carefully invested in a diverse portfolio of stocks and bonds to generate earnings that will be a permanent source of community capital, helping to continue your good work forever.
There are two ways to create an organizational endowment at the Community Foundation. You, or your group of donors, can collaborate to establish a new endowment or you can move your existing endowment to the Foundation to manage.
When donors or nonprofit organizations work through the Community Foundation to achieve their charitable goals, they benefit from the expertise of experienced local program staff, community leadership, and investment management.
Contact us to find out how to get an endowment started today for your organization.
How an Organizational Endowment Supports the Southeast Steuben County Library
“When someone invests in an endowment,” says Pauline Emery, “they are creating a transformative opportunity for their community and future generations.” As the executive director of the Southeast Steuben County Library, she fully understands how important organizational endowments are. Part of the Library’s operating budget every year comes from an endowment made in memoriam of Cameron D. Stebbins.
Created by Rowland Stebbins III and his family, the fund honors the memory of Mr. Stebbin’s son, Cameron, and provides $25,000 each year to the library to offset services and acquisition costs. This money is used to support services that directly impact the 700+ community members who use the Library daily, including everyone from young children to elders in the region. “The nice thing about the endowment,” says Emery, “is that it has an immediate positive impact on people of all walks of life within our area.”
A person may walk into the Library and have a life-changing experience because of the funds generated through this ongoing gift. Whether one is inspired by a passage in a book or is able to communicate with family across the country through their technological resources, the Library staff knows the gift is having a deep impact on its patrons.
Funding from municipalities only covers enough to pay some of the staff, leaving the Library reliant on grants and the generous donations of community members to offset costs. “We are very grateful for the forethought and planning that went into this gift,” says Emery. “Mr. Cameron was an avid patron of the Corning Public Library (now the Southeast Steuben County Library), and it is fitting that his memory lives on in the programming and resources we offer to everyone who walks through our doors.”