Lilly challenge could bring $500,000 into Putnam community

Wednesday, January 28, 2015

At the Greater Greencastle Chamber Annual Dinner Saturday night, Putnam County Community Foundation President Todd Lewis announced that Putnam County had received a challenge from Lilly Endowment Inc. to grow the Community Foundation's assets and ability to address the needs and aspirations of Putnam County as they change over time.

Based upon population size, Lilly Endowment gave Putnam County the opportunity to bring $500,000 into the community by matching donations to unrestricted Community Grants endowments -- dollar for dollar. These endowments, offered to all community foundations across the state, provide resources for local grantmaking.

If the Foundation is successful, there will be an additional $1 million in Community Grants Endowments, which will provide up to an additional $45,000 every year. That is a 23 percent increase above what was available in 2014.

In addition, endowments at the Community Foundation are invested and grow to keep up with inflation. In 20 years, an endowment at the Community Foundation will have nearly doubled in size and distributed more than was originally contributed. Along with the increase in the endowment fund balance, the amount available for annual granting to the community also increases.

Lewis reflected on the impact this would make in the community.

"Currently for every $1 in funding the Grants Committee has available, $4 in requests are received," he said, "so this is an opportunity to make a huge impact, not only now, but in the future."

Donations must be received by March 31, 2016 to count toward the match.

Lewis reported that due to the generosity of many people and businesses, including 100 percent of the Community Foundation's board members, the community is more than halfway to the goal.

"That is a great start, but to get to the finish line, we still need to raise $232,500," he noted.

Lewis said the Foundation has been an important part of Putnam County for nearly 30 years, touching essentially every person in Putnam County in a positive way.

He mentioned various projects supported by the Community Foundation over the years: The Splash Park, the Knoy Resource Center, PutnamRISE, Ivy Tech and most recently the Envision 2016 grant recipients.

Lewis reported that the Community Foundation has awarded more than $10 million in grants and scholarships benefiting the people of Putnam County.

"What will Putnam County look like in 30 years?" Lewis said. "We know that many things will be different, but the Foundation will still be here. It may be lead by our daughters or our sons, or maybe our grandkids, but it will still be providing permanent resources to support our community."

Lewis asked Chamber members to help Putnam County achieve this important goal by making a donation of any size to an unrestricted Community Grants endowment at the Community Foundation. He also mentioned that there were special giving opportunities for persons who were interested in establishing a permanent family or business charitable legacy.

The Putnam County Community Foundation is a nonprofit public charity established in 1985 to serve donors, award grants and provide leadership, enriching the quality of life and strengthening community in Putnam County.

To obtain additional information about the Lilly GIFT VI challenge, persons may contact Elaine Peck at 653-4978 or epeck@pcfoundation.org.

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