Nonprofit funds hosted by the Community Foundation of Greater Dubuque are set to grant millions of dollars to support the work of local organizations.
Dubuque Arboretum & Botanical Gardens Director Jenna Hirtz knows first-hand the impact endowment funds have on the community. Each year, she sees her organization’s endowment, hosted by the Community Foundation of Greater Dubuque, pay out to cover an array of daily expenses, such as electricity bills for water features, gas for maintenance equipment, materials for garden beds, and seeds for planting.
“Our endowment with the Community Foundation is essential for yearly stability and future prosperity,” Hirtz says. “I see it as an active retirement account for our organization. We all know how critical it is to have a personal retirement account set aside to help you get through day-to-day life in the future. An endowment is similar: We have the comfort of knowing we have the resources to get us through our day-to-day expenses, and it will be there for us for many years to come thanks to the generosity of our donors.”
More organizations like Dubuque Arboretum & Botanical Gardens are poised to receive their own endowment payouts this February. The 400-plus nonprofit endowment funds hosted by the Foundation and its eight affiliates across Allamakee, Clayton, Delaware, Jackson, Jones, and Clinton Counties will grant out more than $5 million that organizations can use for operations, community projects and many other aspects of their work.
“The Community Foundation is here for the Dubuque region now and forever, and the organizations receiving these payouts are our partners. They help us understand the needs of our communities and drive lasting change to ensure all people can thrive,” says Nancy Van Milligen, Foundation president and CEO. “Endowments provide a sustainable source of funding that allows organizations to realize their missions, embark on new initiatives to meet local needs, and do their best work to support communities.”
The endowment funds held by the Community Foundation grant out every February. Since 2021, the total amount of these payouts has increased by approximately $3 million. Because of endowment funds’ stability and the reliability that comes from annual payouts, nonprofits choose to create funds with the Foundation and its affiliates that will support their work and benefit the community forever.
Take the Dubuque Symphony Orchestra, for example.
“Endowment is some of the most critical funding for the Dubuque Symphony,” says the Symphony’s executive director, Mark Wahlert. “It helps to support literally all of our programs and efforts in some way. Endowment income allows us flexibility in how we best utilize those resources while also providing year-after-year support that both sustains our organization but also helps us to plan for the future knowing we’ll have those resources as part of our funding mix.”
The National Mississippi River Museum and Aquarium’s endowment, meanwhile, has been essential for funding campus maintenance and improvements, says Corrine Kroger, vice president of development and marketing for the museum.
“It has helped us manage rising energy and utility costs,” she says. “Once fully funded, the endowment will cover our annual depreciation expense, ensuring our facilities remain top-notch while allowing earned revenue and gifts to support mission-based programs.
“These enhancements create a ripple effect, ensuring the health and safety of our animals, guests and staff, the preservation of our artifacts, and the overall operations of our organization, ultimately enriching the lives of those we serve.”
Community foundations are charitable organizations that use philanthropy to create systemic change, benefiting their communities and improving the lives of people in their geographic region. Nonprofits and community members can create endowment funds at the Community Foundation of Greater Dubuque and its affiliates to benefit charitable causes. These funds are invested and pay out annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations in perpetuity.
Local generosity makes this possible. Endowment funds held by the Community Foundation are invested permanently, and the earnings from that investment provide annual funding to address our region’s greatest needs for generations to come.
Gifts of all sizes make a difference, and people who give $50 or more to an endowment fund at the Community Foundation are eligible for the generous Endow Iowa 25% state tax credit. To make your gift to an endowment fund, visit Dbqfoundation.org/endowment.
If you are interested in starting an endowment, contact the Community Foundation at 563-588-2700.
This article is made possible by a partnership between Julien’s Journal and the Community Foundation of Greater Dubuque.
Comments on this article can be sent to comments@juliensjournal.com.
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