Last year, the Pipestone Area Community Foundation (PACF) had an original matching grant from SWIF still available from when they became one of our community foundation affiliates in 2001. Historically, PACF focused their fundraising on specific projects.
To help PACF complete the match, SWIF restructured our $25,000 grant to their endowment, a permanent fund that supports local work. SWIF also connected PACF to three Pipestone-area Growing Home Circle members—Deeann Griebel, David and Marlyce Logan, and SWIF board member Bob and Tami Taubert. Growing Home Circle members give to SWIF’s endowment and have deep roots in our region.
“The neat thing about Pipestone, southwest Minnesota—and really all of Minnesota—is that the culture there is, ‘That’s got to get done. How are we going to do it?’” Griebel said. She moved to Arizona in 1980 and is currently a Managing Director-Investments with the wealth management firm Moors & Cabot Investments. She keeps up-to-date with Pipestone happenings through family and local media.
“I have a high degree of confidence in any money flowing back into that area,” Griebel said. “The foundation is a marvelous platform for everyone to organize from.”
The three donors committed $25,000 each for a dollar-for-dollar match. Beginning May 1, 2014, the local board set to work in raising the initial $25,000. In seven months, the goal was met and PACF’s endowment almost doubled through gifts from individuals, businesses, the challenge donors and SWIF.
So, what does this success mean? Spendable dollars from PACF’s $240,000 endowment is projected to be about $12,000 each year. That’s in addition to project fund grants.
Other communities leverage local generosity through challenges, too. Recent examples of dollar-for-dollar endowment fund challenges include:
- Granite Falls Area Community Foundation – Local $15,000 match from Granite Falls Bank
- Montevideo Area Community Foundation – New affiliate $25,000 match from SWIF, which inspired an additional $25,000 match from three anonymous local business people
- Worthington Area Foundation – Local $20,000 match from Growing Home Circle members and former SWIF board chair Dr. Wayne and Karen Freese
- Bird Island-Olivia (BIO) Legacy Foundation – Local $25,000 match from F & M Bank Minnesota
- Walnut Grove Area Foundation – New affiliate $25,000 match from SWIF