I want to share with you a very exciting opportunity. This opportunity will benefit Brown County now and into the future and we do not want to miss out on it.
It has been nearly a quarter of a century since the Lily Endowment launched the Giving Indiana Funds for Tomorrow or GIFT initiative to encourage the establishment and strengthening of community foundations. This initiative has been the catalyst for the formation of a community foundation in every county in Indiana, including our Brown County Community Foundation (BCCF). Thanks to past GIFT support as well as the generosity and commitment of Brown County citizens the BCCF now has an endowment of $8.4M and since 1993 has awarded cumulative grants of $10M to support nonprofits, scholarships and important community projects like the CRC, the YMCA and the Public Library.
While much has been accomplished there is much more that we can do. Now we are being offered a path to accomplish many of our initiatives and goals. The Lily Endowment has announced GIFT VI, a challenge of $500,000 matching dollars. To receive full benefit of these dollars the community has until March 2016 to raise matching funds in support of long term objectives through our endowment as well as short term objectives.
Under GIFT VI terms the BCCF is allowed to set aside one half of the available funds as Community Foundation Discretionary funds (CFD) to support capital projects and our donor restricted endowments. Under the CFD match terms of GIFT VI the Lily Endowment will provide $1 for every $2 raised for BCCF selected projects and BCCF held endowments. The match will allow the BCCF to take advantage of the Hughes estate gift of the Howard F. Hughes Building where a community resource center providing supports to our not for profits will be established as well as becoming the permanent home for the BCCF.
The BCCF will use the balance of the CFD matching funds available from the GIFT VI program to support other capital projects and endowments benefiting the community. Any individual or organization that currently has an endowment account with the BCCF and wishes to see what match opportunities might be available should contact the foundation soon. It is expected that the demands on available funds for matching purposes will be very competitive.
According to GIFT VI terms all money not used for CFD purposes must be used to leverage funds to support granting. These new grant dollars will be matched $1 for $1 by the Lilly Endowment. The BCCF will utilize the balance of the funds available through the GIFT VI program to launch a matching fund campaign. This campaign called, “Our Brown County Challenge” will seek to raise $250,000 for BCCF’s community grant fund. All funds raised in response to “Our Brown County Challenge” will be available to BCCF in perpetuity for its annual grant awards program benefitting many community organizations and initiatives.
The Lily Endowment GIFT VI initiative presents a significant opportunity to bring a $1 million dollars of new monies to Brown County to strengthen our capacity to respond to community needs in a strategic and robust way. The Board of Directors and the staff of the BCCF are excited to accept this challenge and to start the campaign have made personal contributions providing over $50,000 of the $250,000 match. The BCCF Board and staff are dedicated to raising 100% of the required match funding needed to take full advantage of the opportunity the Lily Endowment GIFT VI presents to our community.
Please join us in this endeavor and in doing so you will help us in building a sustainable pool of grant funds and improve the quality of life for all Brown County citizens.