The Community Endowment Challenge is a partnership between the Community Foundation of West Texas and the CH Foundation for the purpose of encouraging nonprofit organizations to build permanent endowments.
Addressing community needs . . . forever
We believe in strengthening the financial capacity of local nonprofit organizations in order to assure the long-term sustainability of the valuable community programs and services they provide. The Community Endowment Challenge makes it possible for nonprofit organizations to prepare for the future. Endowments are created by those who intend for their gifts to be invested, with the principal remaining intact from now on. This allows the donation to have a much greater impact over a longer period of time than if it were spent all at once.
How does it work?
The Community Endowment Challenge provides matching grants to fund permanent endowments within the Community Foundation. Organizations that are selected for participation will receive a contribution to their endowment equal to 50% of the amount they raise in new endowment funds during the Community Endowment Challenge year. Participating organizations will also receive funding for operating and fundraising activities.
|Benefit to Organization:||$77,000|
The Community Endowment Challenge is intended to generate new endowment money. An organization may not use its own existing endowment or reserves for the program with the exception of the $5,000 initial contribution. Funds may be added to the endowment at any time through general donations, honor/memorial gifts, the organization’s fundraisers, donor bequests, etc. The Community Foundation will invest the corpus along with its other funds to produce a reasonable mix of income and capital appreciation. Distributions will be paid to the designated organization and fees assessed annually according to the Community Foundation spending and distribution policies.
Who is eligible?
Any nonprofit organization that is located within the fifteen counties of the South Plains region (with the exception of churches and hospitals) and meets the following criteria is eligible to submit an application:
- Designation as a 501(c)(3) organization;
- Continuous operation for a minimum of 3 years;
- A successful fundraising track record;
- Agency commitment of at least $5,000 toward the intended endowment goal upon acceptance into the program. These funds may be from existing organization funds or contributed by third party donors.
- Marketable Assets
All gifts must be received by the Community Foundation of West Texas within one year of the Community Endowment Challenge start date. The organization is responsible for contacting donors and collecting all pledged cash and other assets. To qualify for the matching grant, an organization must have raised the entire endowment goal. In the event the required amount is not raised, all funds contributed will remain within the Community Foundation in the organization’s designated endowment.
- Cover Letter – briefly describes the grant request. Must be signed by Board Chair
- Organization Information (limit 2 pages)
- brief history
- services provided and persons served
- name and phone number of contact person.
- Fundraising Information – (limit 2 pages)
- how will you raise the funds necessary to fulfill the Challenge
- tell us how your present endowment (if any) was acquired and its current value
- plans for future growth of the Challenge endowment
- Financial Information
- most recent audit (if availabe)
- financial statements for past three years – explain how any operating deficits were covered
- current operating budget
- List of Board Members
Please mail or deliver the application to:
Community Foundation of West Texas
6102 82nd St., 8b
Lubbock, TX 79424
APPLICATION DEADLINE: JANUARY 15, 2017