FOR IMMEDIATE RELEASE
Date: January 10th, 2018
The Yampa Valley Community Foundation (YVCF) granted $4,027 to the South Routt Education Endowment Fund in 2017. This funding was made possible through an available $100,000 provided by the YVCF Nonprofit Endowment Matching Challenge launched in November 2016.
Nonprofits with endowments held at YVCF are eligible to earn .25 cents for every dollar donated to support their fund. Nonprofits can earn up to $10,000 through the incentive matching challenge. Once the $100,000 is awarded in total, the community challenge is over.
“We know the added incentive has attracted new donors to the South Routt Education Endowment Fund,” explained Russ Garrity, a committee member of the fund. “Informal feedback from several philanthropists has told us the incentive challenge caught their attention.”
The South Routt Education Endowment Fund received 59 gifts totaling $18,626 in 2017. Through the YVCF Nonprofit Endowment Matching Challenge, an additional $4,027 was deposited into their fund. South Routt Education Endowment is eligible to earn an additional $5,973 from the challenge.
Russ stated, “We are now about only 8-9% short of meeting our initial funding milestone of $100,000. We expect that our Mardi Gras event on March 7, 2018, will help us surpass our goal.”
YVCF created this challenge as a way to aid nonprofits to secure their future and ability to serve their community. Nonprofits with endowments can provide stability today and into the future. For example, a nonprofit with a $100,000 endowment will be able to receive approximately $4,500 annually in perpetuity. Nonprofit endowments held at YVCF benefit from being pooled and invested with a current 15.8 million dollars in YVCF assets.
The YVCF long-term investments have seen positive returns over a 20-year horizon. An endowed investment of $100,000 in 1997 would currently be valued $150,040.85. This includes factoring in the annual 4.5% spending policy and the 1% fee YVCF charges for administrative costs. The organization would not only receive approximately $4,500 annually for their investment, they would see this amount increase as their endowment continued to grow.
“It’s a secure funding source for your organization, and we believe endowments are beneficial for an organization to have financial stability,” explained Mark Andersen, executive director of YVCF. “It is a great way for nonprofit organizations to show financial security and have a dedicated funding source.”
In addition to the South Routt Education Endowment Fund, the following nonprofit organizations also have endowments held at YVCF that are eligible for the YVCF Nonprofit Endowment Matching Challenge.
- Yampa Valley Land Trust
- Community Agriculture Alliance
- Tread of Pioneer Museum
- Everything Outdoor Steamboat (EOS)
- Rocky Mountain Youth Corps
Nonprofits can join the challenge by opening a fund at YVCF with a $10,000 investment. YVCF will match this initial gift with $2,500.
Additional information about YVCF Nonprofit Endowment Matching Challenge is available at yvcf.org/non-profits/endowment-building-toolkit/.
Additional information about the South Routt Education Endowment Fund is available at yvcf.org/sorocoedfund/.
The Yampa Valley Community Foundation is the primary source for philanthropic resources and education for both donors and nonprofit organizations in Northwest Colorado. We promote thoughtful, individualized charitable giving and create endowments that have meaningful impact in the Yampa Valley. In all that we do, the Yampa Valley Community Foundation operates with the highest integrity. We are the gold standard in client services and a trusted resource to the community. Our work is impeccable, impactful and transparent to those we serve.
The South Routt School District is deeply rooted near the headwaters of the Yampa River. Small class sizes and strong community involvement weave a strength of character into each, and every student. These students appreciate the one-on-one attention they receive and excel in academics, athletics, FFA, art, music, and more. The school district serves many communities including Stagecoach, Oak Creek, Phippsburg, Yampa, Toponas and the surrounding areas.