Northern Chautauqua Community Foundation staff often answers the question "exactly what is the function of NCCF?" The answer typically includes information about NCCF endowment funds and their value to the community. We often wonder if the listener understands the explanation of what endowment funds are and how these funds benefit the community.
So, you are asking, what is an endowment fund? At the NCCF, endowments are permanent funds created for the betterment of the community. NCCF does not spend contributions to endowment funds. They are invested and the income and interest generate the money used to make grants and scholarships in our community. Because the contributions are never spent, the funds will last well into the future. Individuals, families, businesses, and groups of people create endowments.
The NCCF has more than 346 separate endowment funds that promote a healthy and vibrant community by supporting the arts, hospitals, youth organizations, the environment, and the community in general. Many of these funds specifically provide scholarships for our local youth.
People like endowment funds for many reasons. First, endowments are permanent. Many donors like knowing that their contribution will help the community today, tomorrow, and well into the future. Some establish a fund as a way to memorialize a loved one. Others wish to establish an endowment in their own name as a means to place them on permanent record as one who supports and believes in a particular program or cause. Perhaps most important, donors realize that although someday they will be gone, through an endowment fund they can keep on giving.
A named endowment fund, created during life or at death through a will, would specify your wish to provide for specific needs or for general use throughout the community. You can create your own fund or contribute to one that already exists; either way, donating to an endowment fund is easy and beneficial.
To establish an endowment fund, contribute to one of our existing funds, or for more information, contact the NCCF office at 366-4892 or firstname.lastname@example.org. You owe it to yourself, your family, and your community to consider this charitable option.
The NCCF is one of nearly 700 community foundations in the United States today. Founded in 1986, the NCCF is dedicated to improving the community through the promotion of local philanthropy, strategic grantmaking and community leadership. Served by a small staff and governed by an all-volunteer board of directors, the organization has distributed over $8.8 million in the form of grants and scholarships within the community. Truly community in nature, the NCCF is an organization created by and for the people of northern Chautauqua County.