CROWN POINT | The Crown Point Community Foundation recently completed a five-month campaign to increase the endowment funds held by the foundation.
With a $500,000 gift opportunity from the Dean and Barbara White Family Foundation, the Board of Directors of the CPCF chose to utilize this gift to grow the assets of the foundation. "The plan worked perfectly," said foundation President and Executive Director Patricia Huber.
Donors were able to establish an endowed (permanent) fund with the CPCF. Their gift was then matched $1 for $1. "These permanently endowed funds were invested, will grow and ultimately distribute grants to community needs as directed by the contract with each donor," Huber explained.
Because of the success of this campaign, the Dean and Barbara White Family Foundation gifted an additional $500,000 to the Crown Point Community Foundation. The Board of the CPCF has directed this gift to be divided between the operating endowment fund of the CPCF and the Community Fund that supports community needs.
The final success of this challenge match resulted in a $1.5 million growth of the Foundation’s endowment assets. “With the growth in the assets reaching over 18 million dollars, the future impact of grant making will benefit our community forever,” said Mark Bates, CPCF chairman of the board.
The Crown Point Community Foundation serves Crown Point, Winfield and south Lake County. Since 1990, the foundation has distributed more than 6.3 million dollars in grants to nonprofits and projects that support south Lake County. The foundation administers more than 300 funds for donors who want their charitable goals to impact the community.
“Growing the assets of the foundation will bring additional grant dollars to help strengthen community partnerships. The foundation continues to make a difference in the lives of all in our community. These gifts allow the foundation to do even more,” Huber said.
For more information, call Huber at (219) 662-7252.