The Litchfield Area Community Foundation Endowment Fund
Established in 2002, the Litchfield Area Community Foundation has three funds which are used to fund the work of the Foundation. Those funds are: a) Operating Fund; b) Project Fund and c) Endowment Fund. A brief explanation of each fund follows.
Operating Fund – Like all organizations, there are costs of doing business. Our Operating Fund contains money used for office-type expenses such as stationery, postage, business envelopes, production of Foundation-related brochures and the like. This fund normally has less than $500.00.
Project Fund – This Fund was created in 2010 and contains resources used to fund specific projects which have been endorsed by the Foundation’s Board of Directors. Monies contained in this found include both principal and any return on investment throughout the year. Monies are placed into this fund from contributions made by Foundation donors. This fund normally has less than $3,000.00.
Endowment Fund – From its inception in 2002, the Foundation Board of Directors selected creation of the Endowment Fund to be its principal fund. The Endowment Fund principal remains intact and only the annual return on investment is available for distribution. The vision of the Board of Directors when creating the fund was to use available resources to fund community-based projects which would address unmet needs in the Foundation’s catchment area in the following domains: a) arts and humanities; b) parks and recreation; c) education; and d) quality of life. The goal of the fund is to assist organizations who meet the Foundation’s eligibility guidelines and who apply for funding, to implement projects which will address unmet community needs in one of the four domain areas. Funding is typically made at no more than 50% of any total project cost. The Foundation has been making grant awards on a twice-a-year schedule, in June and in October. Public service announcements are issued through local media sources making each grant-making cycle known to the community. When requested, the collective requested amounts exceed the amount of resources available from the Endowment Fund for any given grant-making cycle, the Board of Directors make priority-based decisions accordingly. In some grant cycles, not all requests for funding are able to be satisfied.
Supporting Local Initiatives Helps Our Community Thrive
The simplest method of giving is to write a personal check to the Litchfield Area Community Foundation, or visit swifoundation.org/donate to give to us online with your credit card. Gifts of all sizes are appreciated and help us to empower the people, businesses and organizations in and around the Litchfield community.
The Litchfield Area Community Foundation is organized as an affiliate of the Southwest Initiative Foundation. As our partner, the Southwest Initiative Foundation provides administrative support through gift processing and receipting, grant processing, investment management, and the 501(c)(3) public charity infrastructure necessary for your gifts to receive the highest possible charitable tax deduction.
Southwest Initiative Foundation’s professional staff are also available to assist you and our board with understanding these giving options, and thinking about what’s best for your specific giving situation and goals.
