July 17, 2023
Ten nonprofits raising funds for CFO matching challenge
The Community Foundation of the Ozarks has selected 10 nonprofit partners to participate in a month-long challenge to boost their endowments. If these nonprofit partners raise $15,000 by Tuesday, Aug. 15, the CFO will grant $10,000 to their endowments.
To donate to the endowment of your choice, follow these links:
- Breast Cancer Foundation of the Ozarks
- Cabool Education Foundation
- Cape Girardeau Public Schools Foundation
- Care to Learn
- Christos House Inc.
- Jasper County CASA
- Ozark Greenways
- Springfield Dream Center
- Springfield Sister Cities Association
- Watershed (formerly Watershed Committee of the Ozarks)
The challenge grants, totaling $100,000, are part of the CFO’s 50th anniversary celebration and exemplify the foundation’s work to strengthen local nonprofits. One of the services the CFO offers to its nonprofit partners is managing endowments, which provide permanent, sustainable sources of income for a nonprofit.
These agencies were selected following a competitive application process held earlier this year.
“We often say that we’re in the forever business, and endowments are the perfect example,” said Brian Fogle, the CFO’s president and CEO. “Endowments ensure that these nonprofits will have resources to serve our communities for the next 50 years and beyond.”
How Endowments Work
- Gifts to an endowment are permanently protected.
- The endowment is invested and managed for growth. Historically, the CFO’s investments grow about 7% annually, but are subject to market fluctuations.
- Each year, a percentage of the endowment — currently 4% — is available for the agency to use as needed. The agency can use that money or keep it invested.
- As the endowment grows, the amount made available each year grows as well.
