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Lilly to provide 2-to-1 match on unrestricted giving to PCCF
The Putnam County Community Foundation has received a grant of $500,000 as part of the Lilly Endowment’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative.
The Lilly Endowment will provide $2 for every $1 contributed to the Putnam County Community Foundation’s unrestricted endowments during the matching period between Oct. 1, 2018 and Dec. 31, 2020.
The Putnam County Community Foundation can use this matching fund grant to build its financial assets and support our charitable activities. At least two-thirds of the matching fund grant must be designated to support the growth of unrestricted endowments, which over time will provide flexibility to help the Foundation meet community needs. The Foundation may choose to designate up to one-third of the matching fund grant to support its own operating needs or specific community or charitable projects. The Endowment will provide 50 cents for every dollar that the Putnam County Community Foundation raises during the matching period for these purposes.
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.
“Lilly Endowment Inc. continues to engage and support the philanthropic mission of Indiana community foundations with the announcement of the GIFT VII initiative,” said Ruthie Purcell-Jones, Putnam County Community Foundation Interim Executive Director. “All of Putnam County will benefit from the continued generosity of Lilly Endowment Inc. and the ability of the Putnam County Community Foundation to increase its granting capacity through GIFT VII.”
To encourage the engagement of the 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 its board members during the period between Jan. 1, 2019 and June 30, 2020.
Starting in 2019, the Putnam 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 Putnam County.
The Putnam County Community Foundation is a nonprofit public charity established in 1985 to help donors establish endowments, award grants and provide leadership, enriching the quality of life and strengthening community in Putnam County. The Foundation has been entrusted with more than 270 funds and endowments for donors, supporting a variety of charitable purposes.
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. The Lilly Endowment’s community development grantmaking is designed to support efforts that enhance the quality of life in Indianapolis and throughout Indiana.
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.