There’s exciting news to share regarding a local match for the Pipestone Area Community Foundation endowment fund. The foundation had original match dollars from SWIF still available for gifts to their endowment fund.
Last year, SWIF restructured its match and three Growing Home Circle donors with ties to Pipestone–Deeann J. Griebel, David and Marlyce Logan and Bob and Tami Taubert–committed $25,000 each toward a dollar-for-dollar match. Altogether, that meant $100,000 in match money for our affiliate.
Beginning May 1, 2014, the local board set to work in raising the initial $25,000. By the end of 2014, the goal had been met. In seven months, the Pipestone Community Foundation endowment fund has almost doubled.
What does that mean to the Pipestone area? Approximate spendable dollars on their $240,000 endowment fund will be just over $12,000 that can be granted to the Pipestone area, in addition to their project funds.
Congratulations to the Pipestone community and thank you to every donor who contributed toward the endowment fund challenge!