The Community Foundation of Howard County received a grant of $1 million as part of Lilly Endowment Inc.’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. With GIFT VII, Lilly Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities, and counties they serve.
The Community Foundation of Howard County can use this matching fund grant to build its financial assets to support charitable activities. At least two-thirds of the matching fund grant must be designated to support the growth of the Foundation’s unrestricted community endowment funds, which provide flexibility to help to meet community needs. Lilly Endowment will provide $2 for every $1 contributed through the Community Foundation of Howard County’s unrestricted endowments during the matching period, Oct. 1, 2018, through Dec. 31, 2020.
Included in GIFT VII is the option to designate up to one-third of the matching fund grant to support other types of endowed funds. Lilly Endowment will provide 50 cents for every $1 that donor’s give to the Foundation’s other types of endowed funds during the match period.
“GIFT VII is an unexpected opportunity to build endowed funds that will serve the community now and for future generations,” said Greg Aaron, president of the Community Foundation of Howard County. “Grants awarded through our unrestricted community endowment funds meet current needs and support the essential work of nonprofits in the community. Recent grants from our unrestricted funds include support to Ivy Tech Community College for its Kokomo campus renovation and the Kokomo Rescue Mission’s shelter home for single women. This match gives the Foundation the potential to increase funds available for grants.”
The GIFT initiative is part of Lilly Endowment’s grantmaking to strengthen Indiana communities and has been a priority of the Endowment since the first phase of GIFT in 1990. The initiative’s primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize and address local opportunities and challenges.
To encourage the engagement of the Community Foundation of Howard County’s Board of Directors, the Endowment also will award an additional $100,000 unrestricted grant if the Foundation achieves 100 percent financial support from its board members through June 30, 2020.
Starting in 2019, the Community Foundation of Howard County will have the opportunity to apply for more funds through GIFT VII’s community leadership grants. This component includes both planning and implementation grants, which are available to help the Foundation deepen its understanding of the challenges and opportunities facing its community; convene key local stakeholders and explore how it can effectively play a leadership role in implementing initiatives and strategies that enhance the quality of life in Howard County.