(Des Moines) Today, Governor Chet Culver joined officials from the Iowa Council of Foundations (ICoF) and the Iowa Department of Economic Development (IDED) to announce the recipients of the 2007 County Endowment Fund Program. Over $6.6 million will be distributed this month to 85 community foundations and/or their affiliate organizations in almost every area of the state.
Each recipient will receive approximately $77,000. In 2006, community foundations were each awarded approximately $67,000 each. The community foundation organizations (governed by local community members) will grant 75 percent of those funds to charitable projects within their counties (impacting areas such as arts/culture, education, environment, health, human service, community development and more) and place the remaining 25 percent in a permanent endowment fund, which is intended to attract other donations and provide a source of permanent funding for charitable projects within the county.
“To keep our economy moving forward, we must continue to work together to build great communities,” said Governor Culver. “Well into the future, these community foundations will improve quality-of-life in these communities, making them even more attractive to businesses and employees.”
The source of funding for the program is state gambling revenues, of which one half of one percent was designated for distribution to a community foundation located in counties without a state gaming license. Fourteen (14) counties were not eligible for the funding because state-licensed gaming facilities are located in those counties.
“These are key investments that empower Iowa communities to prepare for their futures,” said IDED Director Michael Tramontina.
IDED works closely with ICoF to coordinate the program and determine the community foundation recipients of the funding. ICOF is a membership organization of grantmaking foundations across Iowa (community/public, corporate, and private) with a mission of promoting philanthropy and effective grant making within the state.
“Philanthropic investment is an important component to a vibrant community. Through the County Endowment Fund program, community foundations across our state have increased resources to not only support charitable causes but also to build endowment funds that will grow and encourage additional investments for the counties’ futures,” said Angela Dethlefs-Trettin, director of ICoF. “This program serves as a catalyst for promoting effective philanthropy in Iowa and we are proud of the impact it has made and the opportunities it presents for the future of Iowa communities.”
The IDED and ICoF Web sites will have the official listing of the community foundations and/or their affiliate organizations named as the recipients of the County Endowment Fund Program dollars along with contact information. The information can be found at the following sites: