Endowment Matching Program A Huge Success
NEWS RELEASE
Contact: Fred McCarter (812) 539-4115
For Immediate Release
DCF ENDOWMENT MATCHING PROGRAM A HUGE SUCCESS, AS GENEROUS DONORS QUICKLY CONTRIBUTE $275,000
LAWRENCEBURG, Ind., April 11, 2008 – It took less than two weeks for contributors to match the $275,000 set aside by the Dearborn Community Foundation (DCF), Inc. during its Double Your Donation endowment matching program.
The goal of the matching program was to celebrate DCF’s 10th Anniversary with a gift encouraging philanthropy through endowment in the Dearborn County community, said Fred McCarter, Executive Director of the Dearborn Community Foundation, Inc. The matching program began on April 1 and was over by April 11, when the last of the $275,000 in endowment matching funds were matched, he said.
“There certainly was no expectation of how quickly the generous donors in our community would respond,” McCarter said. “The outcome certainly is quite gratifying.”
DCF matched $1-for-$1 contributions made to new or existing endowments – doubling the original donation by contributors. Contributors established five new endowments totaling more than $172,500 during the matching program. Another $102,500 was contributed to nearly 20 existing endowments. The overall endowment at the Foundation grew by $550,000 when the new contributions are combined with the $1-for-$1 match. DCF had total endowment of $10.4 million as of December 31, 2007.
“The new endowments, like our existing endowments, will provide scholarships for students and grants for charitable organizations and causes in perpetuity,” McCarter said. “The contributions by donors are greatly appreciated. It’s important to note that the matching program would not have been possible without the generous support of Dearborn County Council and the City of Lawrenceburg.”
New endowments established during the DCF endowment matching program include:
· Dillsboro Volunteer Fire Department Fund: provides support to the Dillsboro Volunteer Fire Department.
· Aurora Public Library District Fund: provides support to the services of the Aurora Public Library District.
· Kay Chalk Memorial Scholarship Fund: provides support to the Dollars for Scholars South Dearborn Chapter of Scholarship America, Inc., for a scholarship.
· Main Street Aurora, Inc., Trail Fund: provides support to Main Street Aurora, Inc., for Dearborn Trails expenses.
· Nanz Family Scholarship Fund: provides funding for a scholarship to a current graduating senior or a previous graduate of Lawrenceburg High School or South Dearborn High School.
Beginning April 1, 2008, the Foundation matched contributions to new or existing endowments $1-for-$1 up to a maximum of $50,000 per donor. The contributions were matched on a first-come, first-served basis as long as matching funds were available.
Established in December 1997, members of the community have been turning to Dearborn Community Foundation for more than 10 years now to make their philanthropic dreams come true. DCF, a 501 (c) (3) tax-exempt public charity, helps donors’ dreams come true by safeguarding endowments for the community through contributions large and small. The contributions to charitable endowment funds are permanently invested to produce earnings that are used to make a difference in our community through grants to various charitable agencies and projects in our community now and forever. Grants awarded by DCF support the needs and interests in Dearborn County in the fields of community service, social service, education, health, environment and the arts.
In 10 short years, DCF’s endowment funds have grown to number more than 70. Thanks to the generosity of contributors, the Foundation has awarded a total of more than $10 million in grants and scholarships through endowment funds and non-endowed programs in its 10-year history.
To learn more about DCF, call 812-539-4115, stop by the office at 204 Short Street in Lawrenceburg, or visit the Foundation website at www.dearborncf.org.
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