Story County Community Foundation (SCCF) reports 2013 growth of $1.2 million in the SCCF family of charitable funds, most of which are endowed, providing permanent support for Story County communities. SCCF facilitates the growth and management of charitable funds in partnership with nonprofits and philanthropic families and individuals.
There were 94 funds under SCCF’s umbrella on Dec. 13, 2013. Total value of these funds at year end was $6.5 million. The increase in assets resulted from new contributions of more than $1 million, plus investment income.
Most contributions in 2013 were made to funds that SCCF manages on behalf of 42 Story County nonprofits. SCCF funds also include donor-advised funds, which are started by families or individuals to support charitable causes of their choosing. Areas supported by these funds include human services, education, arts and culture, health care and natural resource conservation.
The Endow Iowa Tax Credit provides a 25-percent Iowa tax credit for gifts to permanently endowed funds at SCCF.
"Last year was another excellent year for philanthropy in Story County. Donors to funds at SCCF are far-sighted in their desire to support their favorite causes with enduring gifts," said Jennifer Garst, SCCF executive director.
Holders of funds under the SCCF umbrella distributed a total of $365,000 during 2013. The distributions supported mostly local charitable causes. In addition. SCCF awarded $101,000 in community grants. Funds for the community grants come primarily from the State of Iowa’s County Endowment Program.
"Our gifts to endowed funds make a difference now and will continue to make a difference long after we are gone," said Charles Glatz, chair of SCCF’s advisory board of directors.