$10 million announced for foundations

The Iowa Economic Development Authority, the Iowa Council of Foundations and Gov. Terry Branstad announced the funding of the 2011 County Endowment Fund Program. Approximately $10 million in funding will be distributed to 85 community foundations across the state.

Each of the 85 community foundations participating in the program will receive approximately $118,000; the organizations will then grant 75 percent of those funds to charitable projects and programs in their counties and use the remaining 25 percent to grow a permanent, unrestricted endowment fund. The unrestricted endowment fund is intended to attract additional donations and provide a source of permanent funding for charitable projects in the county.

The source of funding for the program is eight-tenths of one percent of the state's gambling revenues. The program distributes an equal allocation to a community foundation located in counties without a state gaming license. Fourteen counties were not eligible for the funding because state-licensed gaming facilities are located in those counties.

The Iowa Economic Development Authority, the public arm of the newly-legislated Iowa Partnership for Economic Progress, works close with the ICoF to coordinate the program and determine the community foundation recipients of the funding. ICoF is a membership organization of grantmaking foundations across Iowa with a mission of promoting philanthropy and effective grantmaking in the state.

"Philanthropic investment and partnership are important components to a vibrant community; we are fortunate in our state to have both the County Endowment Fund and Endow Iowa programs which are innovative ways to support endowment-building partnerships for the future of Iowa," said Angela Dethlefs-Trettin, executive director of ICoF.

To find a list of the community foundations that received funding for the 2011 County Endowment Fund Program, please visit:

http://www.iowacommunityfoundations.org/2011-recipients.aspx