[CSL board] Community Foundation Announces Endowment Challenge Grant

[Dan MacNeil]

-------- Original Message --------
Subject: [NPA] Community Foundation Announces Agency Endowment 
Challenge	Grant
Date: Thu, 05 Jul 2007 17:12:17 -0400
From: Dave Kronberg <dave.glcf at verizon.net>
To: NPA <npa at lists.ltc.org>

Lowell, Massachusetts - July 5, 2007 - The Greater Lowell Community
Foundation today announced it will award up to twenty $2,500 challenge
grants to nonprofit agencies that contribute a minimum of $5,000 to new or
existing agency endowment funds at the Community Foundation.  A total of
$50,000 will be awarded on a 1:2 matching basis on a first come- first
served basis commencing as of June 18, the date at which the program was
approved by the Foundation's Board of Directors.



Eligible organizations must have offices located in, and exclusively
restrict proceeds from the endowment to benefit only the communities in the
Foundation's northern Middlesex County service area, including Ashby, Ayer,
Bedford, Billerica, Burlington, Carlisle, Chelmsford, Concord, Dracut,
Dunstable, Groton, Littleton, Lowell, North Reading, Pepperell, Reading,
Shirley, Stoneham, Tewksbury, Townsend, Tyngsboro, Wakefield, Westford and
Wilmington.



  "Nonprofit agencies play a vital role in providing needed social, 
cultural,
environmental and educational services.  By creating endowments that can
increasingly sustain the operations of these community organizations, the
Greater Lowell Community Foundation can make a significant permanent
contribution to community life," said David Kronberg, the Foundation's
executive director.



Luis Pedroso, the Foundation's President stated "There is no other
organization that provides a range of endowment and fund advancement
services for nonprofits in our region.  Of the 228 endowment funds in its
portfolio, the Foundation manages forty-nine funds for twenty-two nonprofit
organizations.  This program is just the first step in engaging many others
in our communities to support the institutions that are valuable and
indispensable to them."



  "The $50,000 challenge grant has been made available through a generous
donation by Mark and Elisia Saab, who have established a donor advised fund
and supported other exceptional philanthropic initiatives at the Community
Foundation to improve the quality of life in our region," added Pedroso.



For more information call the Community Foundation at 978-970-1600.

###







ADVANTAGES TO WORKING DIRECTLY WITH

THE GREATER LOWELL COMMUNITY FOUNDATION







Donor Confidence - Administration of an agency endowment by the Greater
Lowell Community Foundation as a neutral third party, provides added
assurance to an agency's donors that their gifts will be used as intended.



Investment Expertise - Most nonprofit organizations do not have the time or
expertise to manage their own portfolios.  The Greater Lowell Community
Foundation exists specifically to administer and grow endowments for the
Greater Lowell, Nashoba Valley, Merrimack Valley and northern Middlesex
County region.



Economy - Foundation assets are pooled but separately accounted for
investment and administrative purposes, often at a lower cost than smaller
pools of capital could achieve on their own.



Greater Visibility/Publicity - Agency endowment funds are listed with other
similar funds in various Foundation publications.  Periodic stories in the
Foundation's Annual Report and newsletters provide additional opportunities
to educate the public about the agency's mission and work in the community.




Security - Careful stewardship by the Foundation's board and staff assures
prudent management and accountability to donors' intentions.



Simplicity - The Foundation takes care of the ongoing administrative and
reporting details of operating an endowment fund, including grant
distributions to the agency. The Greater Lowell Community Foundation
provides customized statements that enable an agency to monitor the activity
of their fund.  These statements provide detail and transparency on all
account activity.



Relevance - If an agency goes out of business, the Foundation will ensure
that the agency's fund continues to address similar needs within the local
community.



Public Accountability - The Foundation makes a full accounting to the
community through annual reports certified by independent auditors.



Service and Added Value -



*         The Foundation provides donor acknowledgement letters to all
donors who make a contribution to the agency's endowment fund.



Page 2.  ADVANTAGES TO WORKING DIRECTLY WITH THE GREATER LOWELL COMMUNITY
FOUNDATION









*         The Foundation notifies its agency customers of all contributions
accepted on its behalf.



*         If the agency does not know how to handle or liquidate stock
contributions from their donors, the Foundation will manage the liquidation
of these contributions on the agency's behalf.



*         The Foundation can assist agency endowment customers in developing
various fundraising strategies.



*         The Foundation will provide assistance and expertise to the agency
in the area of Planned Giving.  This includes the handling of deferred gifts
such as trusts, gifts of real estate, life estates and other complex
arrangements, which are usually the source of larger donations.  A community
foundation's permanence is often appealing to donors who want to feel their
gift will be lasting and well managed.  Often, these donors feel more
comfortable about making a large gift to funds held within a community
foundation.



*         The Foundation is available to work with the agency's donors and
their professional advisors to establish Charitable Gift Annuities that will
ultimately benefit the agency endowment customer.



*         The Foundation can assist with the development of educational,
philanthropic seminars to be presented to the agency's donors and
prospective donors.



*         The Foundation will provide assistance in the development of
brochure copy if the agency endowment customer is interested in creating
their own unique brochure to advertise their endowment fund or a gift
annuity program.



*         The Foundation can provide the agency customer with a short term
pass-through fund for special fundraising projects.



The Greater Lowell Community Foundation provides community leadership,
philanthropic services, and strategic investment, and helps people support
the causes they care about, now and for generations to come.