The Community Foundation of Boone County (CFBC) has received a $1 million matching grant challenge from Lilly Endowment Inc. to raise, invest, and pour gifts back into Boone County. This grant is part of Lilly Endowment’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. Through the initiative, Lilly Endowment is making grants of up to $125 million to Indiana community foundations to help them support the local communities they serve.
CFBC has just under $300,000 to match gifts contributed to any current or new endowed fund, ($10,000 minimum pledge to be paid by 2022, matched $0.50/$1.00, plus a minimum gift to our Community Impact Fund—call for details). This allows donors to give money to a specific fund they support and have their donation amount increased through the match.
The grant also triples any donation made to the Community Impact Fund or to establish one of CFBC’s new named Legacy Funds (a named unrestricted fund to support local grantmaking), by matching $2 for every $1 gifted, up to $670,000 in total. Monies in this fund allow CFBC to give back locally as needs arise, to promote leadership training and development, and to be an overall support system for all of Boone County. “The Community Impact Fund allows us to make transformational changes in Boone County. All gift amounts are welcomed, accepted, and matched, whether $10 or $10,000, because together, every donation adds up to help our community reach the goal! It’s amazing what we can accomplish together”, said Julie Reagan, Development & Communications Director of CFBC.
To encourage the engagement of the Community Foundation of Boone County’s Board of Directors, Lilly Endowment will award an additional $100,000 unrestricted grant if the foundation achieves full financial support from its board members through June 30, 2020.
Additionally, the Community Foundation of Boone County will have the opportunity to apply for more funds through GIFT VII’s community leadership grants in 2019. This component includes both planning and implementation grants, which will be available to help the foundation deepen its understanding of the challenges and opportunities facing its community. It also provides funding to convene key local stakeholders and explore how it can effectively play a leadership role in implementing strategies that enhance the quality of life in Boone County.
“The Lilly Endowment $1 million GIFT VII challenge could not have come at a more exciting time of growth for our foundation and community”, said Kristi Reynolds, President and Chief Executive Officer of CFBC. “Boone County met the last challenge, and with the help of our generous community, team, and board, we have no doubt that we will meet the goal again.”
About CFBC: The Community Foundation of Boone County came to life in 1991 with $15,000 in startup gifts, a matching grant from Lilly Endowment, Inc. (GIFT I), and a vision to bring Boone County together for the greater good. Today, CFBC has over $22 million in assets and has given back over $25 million in grants and scholarships to students, nonprofit organizations, and programs working to solve critical challenges in Boone County.
About Lilly Endowment Inc.: Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1936 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. Lilly Endowment’s community development grantmaking is designed to support efforts that enhance the quality of life in Indianapolis and Indiana.
About the GIFT VII Initiative: 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. This initiative is the seventh phase. The initiative’s primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize, and address local opportunities and challenges.
For more information about Community Foundation of Boone County, visit our web site: www.communityfoundationbc.org or contact our staff at 765-482-0024.