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What is a Nonprofit Endowment Fund?
Nonprofit Endowment Funds allow your organization to grow assets to meet both current and future needs. This is a simple and efficient way to create sustainability for your nonprofit organization. Galesburg Community Foundation provides the investment oversight and manages the administrative details. This allows your nonprofit to focus on your mission to ensure long term impact and will provide a stable source of revenue for your organization.
Why create an Endowment Fund?
• Creates additional opportunities for your donors to give to your organization that will forever benefit your mission
• Provides a consistent source of annual income
• Demonstrates your organization’s security, stability, and long-range financial planning
• Increased investment yield as the endowment is pooled with other funds at the Foundation, meaning the fund receives maximum return and lower fees due to the size of the funds
What can the money be used for?
Distributions from your Nonprofit Endowment Fund can be used for your organization’s operations, including administrative costs, salaries, capital projects, emergency needs such as funding shortfalls and new opportunities.
Want to learn more?
Joshua D. Gibb, President & CEO