Steuben County Community Foundation Receives $500,000 Matching Fund Grant
By JoAnna Ness, Dec 3 2018 08:27PM
Steuben County Community Foundation has received a grant of $500,000 as part of Lilly Endowment Inc.’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. With GIFT VII, the Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities and counties they serve.
Steuben County Community Foundation can use this matching fund grant to build our financial assets and support our charitable activities. At least two-thirds of the matching fund grant must be designated to support the growth of Steuben County Community Foundation’s unrestricted endowments, which over time will provide flexibility to help the foundation to meet community needs. Lilly Endowment will provide $2 for every $1 contributed to Steuben County Community Foundation’s unrestricted endowments during the matching period, October 1, 2018, through December 31, 2020.
Steuben County Community Foundation may choose to designate up to one-third of the matching fund grant to support the foundation’s own operating needs or specific community or charitable projects. Lilly Endowment will provide 50 cents for every $1 that Steuben County Community Foundation raises during the matching period for these purposes.
“We are thrilled with the opportunity to participate in another GIFT initiative” said Jennifer Danic, President and CEO of Steuben County Community Foundation. “As Steuben County grows and changes, we will use this opportunity to continue growing to meet our community’s needs. And we have high confidence our donor community will help us meet this challenge as they have in past GIFT initiatives.”
Steuben County Community Foundation was founded in 1991 to serve as a community leader, helping people support the causes they care about, now and for generations to come. Steuben County Community Foundation’s board of directors strategically invests the earnings from its permanent assets of more than $28 million into community projects, local nonprofit organizations, and scholarships. In addition to awarding grants totaling over $1 million each year, Steuben County Community Foundation also owns and manages the community-based broadband fiber network known as the Steuben County Fiber Network.
The GIFT initiative is part of Lilly Endowment’s grantmaking to strengthen Indiana communities and has been a priority of the Endowment since the first phase of GIFT in 1990. The initiative’s primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize and address local opportunities and challenges.
To encourage the engagement of Steuben County Community Foundation’s board of directors, the Endowment also will award an additional $100,000 unrestricted grant if the foundation achieves 100 percent financial support from our board members during the period January 1, 2019, through June 30, 2020.
Starting in 2019, Steuben County Community Foundation will have the opportunity to apply for more funds through GIFT VII’s community leadership grants. This component includes both planning and implementation grants, which are available to help the foundation deepen its understanding of the challenges and opportunities facing its community; convene key local stakeholders and explore how it can effectively play a leadership role in implementing initiatives and strategies that enhance the quality of life in Steuben County.
Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1937 by three members of the Lilly family – J.K. Lilly Sr. and sons J.K. Jr. and Eli – through gifts of stock in their pharmaceutical business, Eli Lilly & Company. The Endowment exists to support causes of community development, education and religion. Lilly Endowment’s community development grantmaking is designed to support efforts that enhance the quality of life in Indianapolis and Indiana.