The Community Foundation is excited to introduce a special opportunity to nonprofit organizations in Palm Beach and Martin Counties – the Forever Nonprofit Endowment Challenge.
WEST PALM BEACH, FL (August 3, 2016) – The Community Foundation for Palm Beach and Martin Counties is excited to introduce a special opportunity to nonprofit organizations in Palm Beach and Martin Counties – the Forever Nonprofit Endowment Challenge.
The Forever Nonprofit Endowment Challenge will encourage up to fourteen 501(c)(3) organizations in Palm Beach and Martin Counties to establish a permanent endowment with the Community Foundation. The Community Foundation will invest $350,000 into this initiative from the John D. and Catherine T. MacArthur Fund, matching up to $25,000 per organization.
This Challenge grant piggybacks on the success of last year’s challenge from the Foundation, the Forever Arts and Culture Endowment Challenge. Last year’s challenge, exclusively for arts and culture organizations, awarded ten nonprofits with matching grants of $25,000 each to establish a permanent endowed fund at the Community Foundation.
The Community Foundation will administer the Forever Nonprofit Endowment Challenge. Organizations that demonstrate institutional readiness, financial stability, and fundraising maturity are encouraged to participate. The ten winners of last year’s arts and culture challenge grant and current nonprofit endowment fundholders at the Community Foundation will not be eligible.
“The initial arts and culture endowment challenge was so successful we wanted to give other nonprofit organizations the chance to endow their future,” said Bradley Hurlburt, President and CEO of Community Foundation for Palm Beach and Martin Counties. “Permanent endowment provides a reliable source of income in perpetuity that an organization can count on for its charitable work. Funds also grow over time with additional gifts from multiple donors. Our nonprofit endowment fundholders are the exemplars of sustainability, forward thinking and long-term commitment to our community.”
Interested nonprofit organizations within Palm Beach and Martin counties are invited to submit a proposal to be considered for the challenge program. Organizations with commitment to building long-term sustainability through endowment building will be given priority. LOI proposal submissions will be accepted from September 6 – October 28, 2016. The Community Foundation will invite select candidates to submit full proposals between November 16 – December 21, 2016. Awards will be announced on January 13, 2017.
The following information sessions are opportunities for an agency’s Board of Directors and executive staff to learn more about how a nonprofit endowment fund at the Community Foundation operates as well as the proposal requirements.
Monday, August 29, 2016 from 4pm – 5:30pm
Community Room
Community Foundation for Palm Beach and Martin Counties
700 South Dixie Highway
West Palm Beach, FL
Tuesday, August 30, 2016 10am – 11:30am
Community Room
Martin County Children’s Services Council
101 SE Central Pkwy
Stuart, FL
Tuesday, August 30, 2016 5pm – 6:30pm
Community Room
Community Foundation for Palm Beach and Martin Counties
700 South Dixie Highway
West Palm Beach, FL
Wednesday, August 31, 2016 10am – 11:30am
Vegso Community Resource Center
261 NW 13th Street
Boca Raton, FL
For more information and a list of local agencies that have an endowment with the Community Foundation, visit www.yourcommunityfoundation.org.
ABOUT THE COMMUNITY FOUNDATION: The Community Foundation for Palm Beach and Martin Counties is one of Florida’s largest community foundations. The nonprofit organization has provided more than $128 million in grants and scholarships over its 44-year history. At its core, the Community Foundation is an organization created with gifts from generous people committed to local causes. For donors, the Foundation serves as a philanthropic advisor. For the community, the Foundation serves as a grant maker and a civic leader. Through the support of its donors and fund holders, the Foundation has been able to address some of the community’s most pressing needs, including hunger, housing and education.
