The recently established Rusk County Community Foundation (RCCF) has received a $7,500 donation to seed a general endowment fund. Per a matching challenge grant, an additional $3,750 will also be added to the Foundation’s permanent funds.
“We are happy to kick off our inaugural year campaign with gifts such as this to our general endowment fund,” said Kathy Pakes, RCCF board chair.
Carolyn Snyder, RCCF treasurer, explained that a permanently endowed fund is one in which the principal is invested. The principal, which may be increased by other donations, generates interest. This interest is then available to distribute for charitable, educational, scientific, recreational, and literary purposes, within the Rusk County Community. Snyder notes that “Because the principal is never invaded, and increases with additional gifts and growth, an endowed fund is a permanent source of grant making. A gift to an endowed fund is truly a gift that keeps on giving.”
Information on how to apply for grants from the RCCF will be available later this year. To learn more about the RCCF and community foundations, visit the RCCF website at ruskfoundation.org.