The Jennings County Community Foundation has an opportunity to grow its assets by more than $1 million and address pressing needs locally with the aid of a grant by Lilly Endowment Inc.
A matching grant of $500,000 has been awarded to the foundation through the seventh phase of the endowment’s Giving Indiana Funds for Tomorrow (GIFT) initiative.
Lilly Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities and counties they serve.
In addition, Lilly Endowment will award a $100,000 unrestricted grant if the foundation achieves 100 percent financial support of at least $500 from each board members from Jan. 1, 2019, through June 30, 2020.
Jennings County Community Foundation, founded in 1994, can use the matching fund grant to build its financial assets and support charitable activities.
“It will just make us be in a much better position to fulfill the community’s needs,” said Barb Shaw, executive director of the Jennings County Community Foundation.
“We have a lot of pressing needs right now,” she added.
Education, drug rehabilitation, homelessness, employment and health care are Jennings County’s most pressing needs, she said.
At least two-thirds of the matching fund grant must be designated to support the foundation’s unrestricted endowments. Which organizations receive unrestricted funds are determined by the foundation’s board.
“Lilly feels it is very important for community foundations to have unrestricted money. This way it gives the board a lot more money for grants,” Shaw said.
Recipients of designated funds managed by the foundation are determined by the donors.
Lilly Endowment will provide $2 for every $1 contributed to the foundation’s unrestricted fund, and 50 cents for every $1 raised by the foundation for its restricted fund, Shaw said.
The Jennings County Community Foundation has provided more than $5.2 million in funding to organizations and students since 1996, Shaw said.
