Five Finalists Announced for $50,000 Endowment Grant
The Community Foundation of NCW has announced the five finalists for a $50,000 Endowment Grant: Chelan-Douglas Land Trust, and the Numerica Performing Arts Center, NCW Business Loan Fund, Wenatchee Valley YMCA, and the Women’s Resource Center.
The Endowment Grant will provide one organization with a $50,000 endowment fund at the foundation. An endowment fund provides long-term sustainability for an organization through an annual stream of income. The principal of the fund is invested, with an annual disbursement back to the organization based on a spending policy, typically around 5% of the fund.
Grant applicants were asked to respond to various operating aspects of their organizations, such as service to community, financial stability, strategic planning, fundraising capacity, the impact an endowment fund would make on their organization, and plans for growth.
“It was challenging to narrow the field to five finalists” said Katie Pauly, the foundation’s board chair, “but we felt these five really demonstrated their mission’s impact reaching into the region, showed strong community support, a readiness to grow their endowment, and strong staff and board teams.”
Each of the finalists will participate in an in-depth interview with a team of foundation staff and board members for another level of evaluation. “This is a competitive grant that we take seriously” said Denise Sorom, Director of Community Philanthropy, “We consider this grant an investment in an organization that is prepared for another level of stability and service to the community.”
The Endowment Grant award recommendation will be brought to the board on September 16th and the final award recipient will be announced September 17th. For more information on the Endowment Grant and other Community Foundation grant opportunities, visit www.cfncw.org/grants.