2011 County Endowment Programs funded
September 7th, 2011 by Ric Hanson
Governor Terry Branstad and officials with the Iowa Economic Development Authority and the Iowa Council of Foundations today (Wednesday), announced the funding of the 2011 County Endowment Fund Program. Officials say about $10-million in funding will be distributed to 85 community foundations across the state.
In western Iowa, that includes: The Empowering Adair County Foundation; The Adams, Audubon, Cass, Guthrie and Harrison County Community Foundations. The Community Foundation of Carroll is also included as a fund recipient.
Each of the 85 community foundations participating in the program, will receive approximately $118,000. In turn, they will grant 75-percent of those funds to charitable projects and programs in their counties, and use the remaining 25-percent to grow a permanent, unrestricted endowment fund. That fund will be used to attract additional donations and provide a source of permanent funding for charitable projects in the county.
The County Endowment Funding Program is made possible through monies the State generates from gambling revenues. 14 Iowa Counties were not eligible to share the funds, because they have state-licensed casinos in those counties.