Iowa Governor Terry Branstad and officials from the Iowa Economic Development Authority, along with the Iowa Council of Foundations (ICoF) have announced the funding of the 2012 County Endowment Fund Program.  Approximately $11 million in funding will be distributed to 85 community foundations across the state. Among them are those foundations or endowment funds located in: Adair, Adams, Carroll, Cass Crawford, Fremont, Guthrie, Harrison, Mills, Montgomery, Page, Ringgold, Sac, Shelby, Taylor and Union Counties.

Each of the 85 community foundations participating in the program will receive approximately $126,000; the organizations will then grant 75 percent of those funds to charitable projects and programs in their counties.  The remaining 25 percent will be used to grow a permanent, unrestricted endowment fund intended to attract additional donations and provide a source of permanent funding for charitable projects in the county.

The source of funding for the program is eight-tenths of one percent of the state’s gambling revenues. The program distributes an equal allocation to a community foundation located in counties without a state gaming license. Fourteen counties were not eligible for the funding because state-licensed gaming facilities are located in those counties.