Home Business & Finance Enterprises Community Foundation of Greater Dubuque Pays Out $2 Million

Community Foundation of Greater Dubuque Pays Out $2 Million

The Community Foundation of Greater Dubuque (CFGD) recently authorized $2,151,140 in agency and donor-advised endowment payouts for fiscal year 2016, up from $1,808,070 last year. Community foundations are charitable organizations that administer funds to benefit their communities and improve the lives of people in their geographic region. Nonprofit organizations and community members can create endowment funds at CFGD to benefit charitable causes. These funds are invested and pay out 5% annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations forever. Any earnings beyond the 5% are reinvested.

Community members and nonprofits have established 558 endowment funds through CFGD and its six rural affiliate foundations in Allamakee, Delaware, Clayton, Jackson, and Jones Counties including the Dyersville community. Nonprofit leaders look to the Community Foundation to hold their organizations’ endowments because the reliable source of funding helps them respond to emerging needs as well as plan for the future and sustain the good work they do.

Donors who give to endowments through a community foundation also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.

Since the Foundation’s inception in 2002, more than 8,500 community members have made donations or created funds at CFGD. As the largest annual grantmaker in the greater Dubuque region, the Foundation has made a total of $31.7 million in grants to nonprofit organizations, including $7.2 million last year alone. The Foundation is also a community leadership organization, bringing people and institutions together to create long-term solutions to community challenges through initiatives like Project HOPE (workforce and unemployment), Every Child/Every Promise (youth and families) and Inclusive Dubuque (equity and diversity).

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