SCICF grants support local organizations
CHARITON — The Parks and Recreation Department in Creston and Ringgold Senior Activity Center in Mount Ayr were recipients of a grant in the amount of $20,000 each.
The South Central Iowa Community Foundation celebrated its 20th anniversary on June 21 by giving away $100,000 in surprise grants. To deliver the grants, 23 board members, staff and guests took a “fun-filled” bus tour to surprise one organization in Clarke, Decature, Lucas, Ringgold and Union counties.
When asked if she was surprised, Sharon Hubbard at Ringgold Senior Activity Center said, “Yes, very!”
Hubbard said she contacted the senior center’s coordinator Janet Hogue to tell her the news.
“She couldn’t believe it,” said Hubbard. “She just kept asking, ‘are you kidding?’”
Hubbard said, because the center is a “donation only operation,” the gift to the center’s endowment fund will help with repairs and operational expenses.
Gary Borcherding and John Kawa were at McKinley Park setting up for “Party in the Park” when SCICF’s tour bus arrived.
“I was very surprised,” said Borcherding.
Borcherding said the grant almost doubled the park’s endowment fund, bringing it closer to $50,000.
How it works
Borcherding said an endowment fund for McKinley Park was started approximately five years ago to help earn money for ongoing projects, such as upgrades to play equipment, general repairs and maintenance.
The endowment funds, earns a small amount of interest, which Borcherding said is the only portion the crew can spend.
“The interest amount, of course, depends on the market,” said Borcherding.
Endowment funds are established to provide non-profit organizations a permanent funding source. Every year, approximately 5 percent of the market value of an endowment fund is available for the organization to use for its mission.
With these $20,000 grants, it’s like SCICF is giving each of these organizations $1,000 a year, every year forever.
To learn more about the South Central Iowa Community Foundation, contact Diane Bear, executive directorat (641) 217-9105 or online at www.scicf.org.