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Governor, Iowa Economic Development Authority and Icof Announce 10 Million for Community Foundations

For more information contact:

For more information contact:

 

Tina Hoffman, 515.725.3150                                              

communications@iowaeda.com

 

Angela Dethlefs-Trettin, 515.989.1188

ADTrettin@IowaCouncilofFoundations.org

 

 

GOVERNOR BRANSTAD, IOWA ECONOMIC DEVELOPMENT AUTHORITY and ICoF ANNOUNCE $10 MILLION FOR COMMUNITY FOUNDATIONS

County Endowment Fund Program Supports the Power of Philanthropy

 

September 7, 2011 (DES MOINES) – Today, Governor Terry Branstad and officials from the Iowa Economic Development Authority and the Iowa Council of Foundations (ICoF) announced the funding of the 2011 County Endowment Fund Program. Approximately $10 million in funding will be distributed to 85 community foundations across the state.

 

“We are pleased to partner with community foundations around the state to create even stronger communities for today and into the future,” said Governor Branstad.  “The County Endowment Fund helps ensure continued philanthropic investment around our state that can be leveraged for years to come.” 

 

Each of the 85 community foundations participating in the program will receive approximately $118,000; the organizations will then grant 75 percent of those funds to charitable projects and programs in their counties and use the remaining 25 percent to grow a permanent, unrestricted endowment fund. The unrestricted endowment fund is intended to attract additional donations and provide a source of permanent funding for charitable projects in the county.

 

The source of funding for the program is eight-tenths of one percent of the state’s gambling revenues. The program distributes an equal allocation to a community foundation located in counties without a state gaming license. Fourteen counties were not eligible for the funding because state-licensed gaming facilities are located in those counties.

The Iowa Economic Development Authority, the public arm of the newly-legislated Iowa Partnership for Economic Progress, works close with the ICoF to coordinate the program and determine the community foundation recipients of the funding. ICoF is a membership organization of grantmaking foundations across Iowa with a mission of promoting philanthropy and effective grantmaking in the state. 

“Philanthropic investment and partnership are important components to a vibrant community; we are fortunate in our state to have both the County Endowment Fund and Endow Iowa programs which are innovative ways to support endowment-building partnerships for the future of Iowa,” said Angela Dethlefs-Trettin, executive director of ICoF. 

To find a list of the community foundations that received funding for the 2011 County Endowment Fund Program, please visit:

 http://www.iowacommunityfoundations.org/2011-recipients.aspx

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Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
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