Fairgrounds Endowment progressing

At the recent 2015 Putnam County Fair Kickoff, it was announced that the Putnam County Fairgrounds Endowment is one-tenth of the way to its $1 million endowment goal at Putnam County Community Foundation.

A $1 million endowment will award $45,000 to the fairgrounds every year for future generations, Elaine Peck, executive director of the Foundation, said.

Peck also presented a check to the Fair Board for $4,000, representing the 2015 distribution from the Fairgrounds Endowment.

The monies will be used to repair and enhance the west-facing entry of the York Automotive Community Building.

The Fairgrounds Endowment was initiated by members of the Putnam County Fair Board in 2011. Donations to the endowment will be protected and invested by the Putnam County Foundation. Over time, the endowment will generate annual revenue for maintenance and capital improvement projects. The payout each year for the Fairgrounds will be 4.5 percent of the endowment's fund balance.

Donations made to the Putnam County Fairgrounds Endowment between May 1 and Aug. 31 will help the Putnam County Fairgrounds get closer to their goal and win the Community Foundation's annual Share the Dream contest.

Checks should be made payable to Putnam County Community Foundation with Fairgrounds Endowment in the memo. Contributions should be mailed to Putnam County Community Foundation, 2 S. Jackson St., Greencastle, IN 46135.

The Putnam County Foundation is a public charity established in 1985 to serve donors, award grants and provide leadership to enrich life in Putnam County. It administers more than 260 active funds and endowments and has awarded more than $11 million in grants and scholarships since inception.

To learn how to get involved, persons may contact M. Elaine Peck, at epeck@pcfoundation.org, or call 653-4978.