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What
is an Endowment? |
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An
Endowment is a permanent savings fund established
to serve charitable purposes perpetually. A portion
of the value of an endowment may be withdrawn periodically
for charitable grants while the corpus is prudently
invested for long-term growth. An endowment can
receive living and estate gifts and offers the donor
certain tax advantages.
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What
is a Community Endowment?
A
Community Endowment is an endowment established
for making grants and scholarships for the people
of a particular community. Donors to the Community
Endowment can be assured that their contributions
will be designated to address local needs as determined
by local folks.
The
Ward County Community Endowment
…will
receive assets to be used for:
• grants for charitable programs and projects
serving the community, and
• scholarships to college-bound students,
…while growing through gifts and prudent
investments. |
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The
Ward County Community Endowment
…will
serve needs in the Ward County area exclusively.
Grants will only be made to nonprofit organizations
that serve people of Ward County. Scholarships will
only be awarded to students who have origins in
Ward County. |
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Who
will manage the Endowment
The
Ward County Community Endowment will be administered
by Permian Basin Area Foundation (PBAF), a $40 million
community foundation serving the West Texas region.
Founded in 1989, the Foundation currently manages
more than 180 charitable funds. |
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How
will endowment funds be invested?
Permian
Basin Area Foundation employs a widely diversified,
risk-averse investment model using a number of highly
qualified investment managers. Participation with
the Foundation will provide certain efficiencies
and avail access to a greater pool of investment
opportunities. The Foundation’s rate of return
on a trailing annualized has averaged 10%. |
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We’ve
Started:
Several
Ward County citizens, working with representatives
of the Permian Basin Area Foundation, have created
the Ward County Community Endowment Fund. This Community
Fund was unveiled to Ward County on December 6,
2006 and is off to a great start. Contributions
and Pledges are already being received. To
help kick-start our Community Fund, the PBAF has
offered a challenge grant of up to $50,000 in
a $1 for each $2 raised from the people of Ward
County or other private sources.
In
addition, the Dunagan Foundation of Monahans has
presented a like challenge to establish the fund:
to grant up to $50,000 in a $1 for each $2 raised
from the people of Ward County or other private
sources. |
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Total
Challenge
Permian
Basin Area Foundation
$50,000
Dunagan Foundation
$50,000
Fundraising goal to meet challenge
$200,000
Target date for achievement
December 31, 2008
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Fundraising
Goal
To
receive matching grants, the community must raise
$200,000 in contributions.
With your help, we can achieve
this goal… Will you help build the Ward County
Community Endowment? |
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Contact
Us For More Information
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