What is an Endowment?
An endowment fund is designed to grow and provide ongoing, permanent support for the future. An endowment preserves the principal and makes a portion of the annual investment earnings available each year for the charitable purpose of the fund. For many organizations and charitable causes, endowment support means the difference between “just getting by” and bringing a mission to life for generations to come. It is an opportunity for a gift to make a difference in our community forever.
Many nonprofits take advantage of CKCF’s financial services through an endowment fund, most oftentimes established by a donor either while they are living or through their estate, to plan for their long-term sustainability. We handle all administrative functions by investing, accounting and making distributions from endowment funds.
We offer the Endow Kentucky tax credit program, which enables donors to gift to nonprofit organizations’ endowment funds at CKCF. An Endow Kentucky gift can benefit the nonprofit organizations a donor chooses.
We now have several nonprofit Endowment Partners. Some nonprofit organizations have laid the groundwork for their endowment fund, so that when they receive a large gift, they are able to add it to their endowment fund. Feeding America, Kentucky’s Heartland received such a gift from the estate of George and Hazel Luster.
The Lusters donated nearly $70,000 through their estate, in a first-of-its-kind gift to Feeding America, Kentucky’s Heartland. The organization’s board elected to add the money to the organization’s endowment fund at Central Kentucky Community Foundation.
“We are so honored Mrs. Luster included FAKH in her estate planning,” said Jamie Sizemore, FAKH executive director. “She was a regular donor to our organization, so our board made the decision to honor the legacy and generosity of the Lusters by placing the gift in an endowment fund managed by CKCF. This forever home will have a lasting impact on those who are in need of food assistance.”
Other nonprofit organizations Endowment Partners are:
- Bardstown Independent Schools Foundation
- CASA – Court Appointed Special Advocates
- Clarity Solutions
- Elizabethtown Community and Technical College Funds
- Elizabethtown Education Foundation
- Elizabethtown Police Foundation
- Feeding America, Kentucky’s Heartland Fund
- Friends of the Hardin County Animal Shelter Fund
- Hardin County Habitat for Humanity Fund
- Hardin County Public Library
- Hardin Memorial Health Foundation
- Helping Hand of Hope Fund
- Mission Hope for Kids
- Nelson County Schools Foundation
- United Way of Central Kentucky
- Washington County Association for the Mentally Handicapped Legacy Fund