December 30, 2015 at 5:49 p.m.
Foundation offers endowment match
Local non-profit organizations will have the chance to get some help in creating or building their endowments in 2016.
The Portland Foundation has committed $100,000 for an endowment match program open to 501(c)(3) groups that serve the residents of Jay County.
“Instead of waiting for people to set things up to benefit the local organizations, we thought maybe if we could provide a match that would give them an opportunity to jump start it,” said Pat Bennett, who will serve as president of the foundation’s board in the coming year.
In order to participate, non-profit groups must simply let The Portland Foundation know they are interested in the program. After providing that notification, they will have until the end of 2016 to raise a minimum of $2,500 dedicated to an endowment.
The foundation will then match the money raised, with a cap of $10,000.
The idea grew out of the board’s strategic planning process that was ongoing throughout 2015.
“The foundation has experienced tremendous growth in the last few years from individuals, but not really growing any organizational endowments,” said The Portland Foundation executive director Doug Inman. “So we thought it would be a good idea to take some existing funds and set them out on a dollar for dollar matching basis to allow these organizations to fund their future.”
The last time such a program was implemented by the foundation was 1993. Inman noted that there are non-profit groups, such as John Jay Center for Learning and Pregnancy Care Center, that have been formed since then that could benefit from the opportunity, although the matching funds are available to both new and existing endowments.
It could serve as an avenue for smaller non-profit groups to get a significant shot in the arm financially.
“It’s a tremendous opportunity for them, because the $2,500 level could be one donor. It could be a handful of donors, depending on how they want to structure it,” Inman said. “The capacity that they’re going to build for themselves for the future, that’s going to be $5,000 more that’s going to grow interest (in) perpetuity”
The opportunity to earn matching funds is an incentive to help the fundraising process that has worked well for The Portland Foundation in other efforts.
On its annual match day Dec. 1 — the foundation gave a 40-percent match to donations to unrestricted funds and 20 percent for restricted funds up to a total of $10,000 — it brought in more than $87,000 from 38 donors, 20 of whom were new.
“It’s good use of our money to help give the non-profits the ability to plan for the future with an endowment,” said Bennett. “We know most all the non-profits are scraping to try to raise operating money.”
Emails have been sent to local non-profit organizations letting them know about the program.
Several, including West Jay Community Center, Youth Service Bureau and Jay County Humane Society, have already expressed interest in participating.
The Portland Foundation has committed $100,000 for an endowment match program open to 501(c)(3) groups that serve the residents of Jay County.
“Instead of waiting for people to set things up to benefit the local organizations, we thought maybe if we could provide a match that would give them an opportunity to jump start it,” said Pat Bennett, who will serve as president of the foundation’s board in the coming year.
In order to participate, non-profit groups must simply let The Portland Foundation know they are interested in the program. After providing that notification, they will have until the end of 2016 to raise a minimum of $2,500 dedicated to an endowment.
The foundation will then match the money raised, with a cap of $10,000.
The idea grew out of the board’s strategic planning process that was ongoing throughout 2015.
“The foundation has experienced tremendous growth in the last few years from individuals, but not really growing any organizational endowments,” said The Portland Foundation executive director Doug Inman. “So we thought it would be a good idea to take some existing funds and set them out on a dollar for dollar matching basis to allow these organizations to fund their future.”
The last time such a program was implemented by the foundation was 1993. Inman noted that there are non-profit groups, such as John Jay Center for Learning and Pregnancy Care Center, that have been formed since then that could benefit from the opportunity, although the matching funds are available to both new and existing endowments.
It could serve as an avenue for smaller non-profit groups to get a significant shot in the arm financially.
“It’s a tremendous opportunity for them, because the $2,500 level could be one donor. It could be a handful of donors, depending on how they want to structure it,” Inman said. “The capacity that they’re going to build for themselves for the future, that’s going to be $5,000 more that’s going to grow interest (in) perpetuity”
The opportunity to earn matching funds is an incentive to help the fundraising process that has worked well for The Portland Foundation in other efforts.
On its annual match day Dec. 1 — the foundation gave a 40-percent match to donations to unrestricted funds and 20 percent for restricted funds up to a total of $10,000 — it brought in more than $87,000 from 38 donors, 20 of whom were new.
“It’s good use of our money to help give the non-profits the ability to plan for the future with an endowment,” said Bennett. “We know most all the non-profits are scraping to try to raise operating money.”
Emails have been sent to local non-profit organizations letting them know about the program.
Several, including West Jay Community Center, Youth Service Bureau and Jay County Humane Society, have already expressed interest in participating.
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