WIUM Tristates Public Radio

Galesburg Organization Promotes Endowments

Jan 31, 2015

The Nonprofit Endowment Match program aims to encourage organizations in Knox and Warren Counties to raise more money and establish endowments.

It will provide up to $10,000 to nonprofits selected for the program.  Those organizations must match the amount the foundation provides.

The Galesburg Community Foundation's new endowment program is aimed to provide nonprofits with a financial boost.
Credit T.J. Carson

Foundation President Joshua Gibb said the match requirement can be used to help motivate a nonprofit to raise funds.

“We hope this this program is the seed that organizations need to start having the conversations with donors who are interested in giving to the longevity and the legacy of the organization,” Gibb said.

Gibb said the program can also help those involved with a nonprofit focus on the daily tasks needed to keep the organization running.

“We’re here to make sure they can do their job.  So by us hosting these endowments and providing them revenue so they can do their job, we really feel like we’re making our community a healthier one,” Gibb said.

Nonprofits have until April 1 to apply.  The foundation is seeking a letter of intent that outlines the organization's long-term vision and goals, how an endowment would fit into the organization, and a development plan for the organization.

Organizations chosen will have one year to raise the money needed to match the foundation’s gift.