The Clay County Community Foundation, an affiliate of the Wabash Valley Community Foundation, will host a reception on Thrusday evening, Nov. 15 from 5-7 p.m. in the main lobby of Riddell National Bank to celebrate its 10th year of service to Clay County. A special performance by the Northview Knight Singers will be featured at 5:30 p.m.
Founded in 1997, the Clay County Community Foundation has helped the community by giving income generated from donors' investments to deserving individuals and organizations. To date, there are seventy-one permanently endowed funds in the foundation. Income from the funds have helped advance education, improve volunteer fire departments, promote civic life, protect the environment and ensure strong health and social services for Clay County residents. The Foundation's assets total more than $3,000,000 and more than $1,000,000 in grants have been given to the community.
After 10 years many still ask, "What is a Community Foundation?" A community foundation serves individuals and organizations that want to make a difference by connecting the philanthropic wishes of donors with opportunities to enhance the quality of life in their communities.
There are four types of funds from which a donor may choose. The largest and most popular is the unrestricted fund. Unrestricted funds provide the greatest flexibility in responding to the community's most pressing needs. As with all funds, the donor has the ability to name a fund in this category or remain anonymous. The unrestricted fund allows the community foundation to make grants throughout the year at regularly scheduled intervals through grant requests and awards. It also allows quick responses to emergency needs brought on by a sudden tragedy, fire or weather damage.
A field of interest fund allows a donor to target giving by specifying broad areas of concern, such as education or beautification. An example of this type of fund would be the Piker-Ginter Fund. The fund creator requested that the proceeds from this fund would be used toward education. The Community Foundation partnered with the Rotary Club to bring the dictionary project to Clay County, whereby all third grade children receive a new dictionary for their own personal use.
Designated funds allow a donor to name one or more specific charitable organizations, such as a church or youth organization. These funds are designed to ensure support for the named organization. For example, the community Foundation holds the Marion and Marie Kattman Sendmeyer Endowment Fund for the benefit of the Poland Chapel. Yearly distributions are made from the Sendmeyer fund to the Poland Chapel.
Individual, family or corporate donor-advised funds give the donor the opportunity and the ability to be more involved with the grants made from this fund and the opportunity to evaluate and change the distributions periodically.
You do not have to be a millionaire to leave a legacy. For as little as $5,000, which can be funded over a 5-year period, a donor can establish a named family fund. Whether your wish is to support education through scholarship funding or you want to promote the beautification of a park or help clothe and feed those in need, The Clay County Community Foundation is able to help you easily understand which option may be best for your unique interests. Our principal service is quite simple -- serving donors and Clay County.
If you would like to learn more about working with the Clay County Community Foundation, contact the Foundation office, toll free at 877-232-2230 or visit their website at www.wvcf.com.