To mark its 25th anniversary, the Community Foundation of Dunn County is inviting area nonprofits to apply for Endowment Challenge Grants of $5,000 for its February 2020 Competitive Grant Cycle. Applications open December 1st, 2019 and will be accepted through the February 3rd deadline.
This new initiative is a competitive, matching-grant program established to help up to five Dunn County nonprofit organizations open or build an endowment fund at the Community Foundation.
Follow the link below to open the Overview and FAQ file as a PDF that you can download, print, and share with staff and your Board of Directors:
Why Build an Agency Endowment Fund?
- It provides a forever stream of income to support general operations or a specific part of the mission of the organization.
- Having an endowment fund sends a signal to donors that the organization is thinking long-term and building assets for its own future sustainability.
- Foundation staff handle investment management and administrative responsibilities of the fund so the organization can concentrate on fulfilling its mission.
- Once established, anyone can donate to the agency’s endowment fund.
The Foundation will choose up to five nonprofits to receive the challenge grant, and the recipient organizations have 12 months to raise the matching funds. Once the agency has raised the $5,000, the Foundation matches them at $5,000 and uses the total $10,000 to open an endowment fund for each recipient organization.
The Foundation then invests the $10,000 in assets and grants out a percentage of the earnings back to the nonprofit organization every year to help fulfill its mission, forever. As the fund grows over time, so does the annual distribution.
Request Amount: All challenge grant requests are for a one-time, $5,000 matching grant.
Eligibility: Nonprofit organizations that are at least 5 years old (based on the date of the IRS letter of determination) and hold 501(c)(3) status may apply if they meet one or more of the following criteria:
- The nonprofit organization is based in Dunn County
- An awarded Endowment Challenge grant and subsequent disbursements will be used only to serve residents of Dunn County
- The organization currently holds agency endowed funds at the Community Foundation at or above the $10,000 fund minimum.
Nonprofit endowments are designed to help nonprofits invest in the mission and the future of the organization by providing general operating support, stability during cyclical income variances, and income for areas of high importance to the organization. Building an endowment fund is critically important to the current and future stability of your nonprofit’s work.For consideration, nonprofits must complete the Challenge Grant Application form and submit by of 4pm on Monday, February 3rd, 2020. If your project is funded, CFDC reserves the right to use written material from this grant application in future publications and presentations.
Register Now for our Free Grant Training!
Join the Community Foundation and United way on Tuesday, January 14th from 2PM-4PM at the Menomonie Public Library to learn the 7 Steps to Writing a Successful Grant.