Jul
7th

Community Foundation Reaches $2 Million Matching Goal

Categories: Press Releases |

Community Foundation Reaches

$2 Million Matching Goal

NEW ALBANY, Ind. – The Community Foundation of Southern Indiana announced this week that it met the $2 million matching grant it received from Lilly Endowment, Inc. in 2014. The matching grant challenged CFSI to build endowment (permanent) funds, which will generate perpetual support for charitable causes throughout the region. In all, the Community Foundation raised over $2.9 million by the March 31, 2016 deadline.

The initial matching grant was awarded to CFSI in October of 2014 as part of Lilly Endowment’s sixth phase of the Giving Indiana Funds for Tomorrow initiative which was “designed to help local Indiana communities develop the philanthropic capacity to address their own needs and challenges.”

“This was an incredible opportunity for our community,” said Linda Speed, President and CEO of the Community Foundation of Southern Indiana. “Because of the support from Lilly Endowment, we were able to have one of our most successful fundraising years ever and will now have available an additional $188,000 per year to grant in support of charitable causes.”

Per Lilly Endowment’s guidelines, half of the matching funds were used to match contributions for discretionary purposes including adding to existing endowments and establishing new endowment funds. The remaining $1 million was allocated to match gifts to the Foundation’s unrestricted fund which the Foundation uses to address the most pressing needs in Clark and Floyd counties, including the needs and priorities identified in the Foundation’s recently released Community Needs Assessment.

Gifts made to the Foundation’s unrestricted fund during the matching period received a $1 match for every $1 contributed. Gifts made to existing endowments, or to establish new endowments, received a $1 match for every $2 contributed.  Lilly Endowment notified the Community Foundation this week that it raised sufficient funds and met all criteria established by Lilly Endowment to meet the matching goal.

Speed continued, “We are so thankful to Lilly Endowment for their generosity and for everyone in our community that supported us during this matching campaign. Our community came together to help us reach this goal and because of their support we’ve built valuable resources to help this region provide for its current and future needs. Thank you to everyone who helped us reach this goal including the Foundation’s staff and board of directors, and the generous individuals, businesses, and local foundations who made gifts that helped us reach this milestone.”

View the Foundation’s “Thank You” Page with a list of supporters.