CFGRB Endowment Challenge Raises Over $1 Million in Permanent Support for the Quad City Community

Supporters of fifteen nonprofit organizations contributed over $1 million to help those nonprofits succeed in the 2012 Endowment Challenge issued by the Community Foundation. The endowments funded by these donations and $75,000 in matching grants from the CFGRB will create a permanent, consistent source of income, allowing organizations to fulfill their missions for years to come.

Nonprofits that raised $15,000 in new gifts for their endowment at CFGRB received a $5,000 matching grant for their endowment. Alternatively, nonprofits that raised $30,000 in new gifts had the option to add the $5,000 matching grant to their endowment or use it for current operations. Every year, 4.5% of endowment assets held at the CFGRB are distributed back out to the community to support the work of nonprofit organizations, while the principal remains intact as a permanent resource.

Because gifts had to come from at least ten people, organizations had to spread the message of the importance of endowment. Jay Morrow, Superintendent of United Township, had conversations with alumni about how they could support the United Education Foundation, which provides scholarships to students and mini-grants to teachers. “We let them know that they could be significant in the future of our foundation, giving tomorrow’s students the same opportunities that they had.”

CFGRB Vice President of Programs Matt Mendenhall agrees. “While the $5,000 award is certainly helpful to these organizations, increased stakeholder awareness of endowment as permanent support for a mission they care about will have much greater value over the long run.” In total, 397 donors contributed to the 2012 Endowment Challenge.

For all but one organization, the 2012 Endowment Challenge was their first time raising funds specifically for endowment. Children’s Therapy Center of the Quad Cities, already an Endowment Partner, took the opportunity to grow their endowment. “In today’s economy, a lot of organizational energy is focused on the ‘now’ – making sure we can provide services today,“ says George McDoniel, Executive Director. “The Community Foundation through their challenge match encourages us to focus energy on securing our future with endowment.”

Both Endowment Partners and CFGRB staff stressed the value of the partnerships they built through this process. Barb Melbourne, Vice President of Development at the CFGRB, says, “I am very proud of our partners who committed to building endowment for a sustainable future.” Mark Drake, Executive Director of Youth Hope, says, “We are so excited about our new endowment with the Community Foundation!  We received a generous match, a new partnership, new income, and unlimited long term potential.”

Each Endowment Partner who met the match will be featured on the CFGRB Facebook page as “Endowment Partner of the Week” beginning January 28^th. To learn more about the impact of these organizations and how you can make a difference, Like our Facebook page.

2012 CFGRB Endowment Challenge

Bettendorf Community Schools Foundation

Catholic Diocese of Davenport

Children’s Therapy Center of the Quad Cities

Eastern Iowa Community College District Foundation

Family Resources, Inc.

German-American Heritage Center

Habitat for Humanity

James E. and Carol A. Bowe Endowment for HDC

Midwest Writing Center

Oakdale Memorial Gardens

Saint Anthony’s Catholic Church – Davenport

Scott County Family Y

United Education Foundation

Women’s Choice Center

Youth Hope

CFGRB 2012 Endowment Challenge – By the numbers:

Successful Endowment Partners: 15

Total donors: 397

Total match: $75,000

Historic Oakdale Cemetery Gains Financial Security for Perpetual Care Funds

The grave site of Bix Beiderbecke at Oakdale Memorial Gardens

Scott County District Judge Gary McKenrick has approved placing the perpetual care endowment for Oakdale Memorial Gardens with CFGRB. The proposal was approved by the Iowa Securities Division.

Oakdale is a historic cemetery — established in 1856 — and is the final resting place for more than 24,000 people, including Bix Beiderbecke, 260 pioneer families, the first Episcopalian Bishop of Iowa, and many others.

Deb Williams is the office manager at Oakdale. She calls it an “outdoor museum.” It isn’t unusual to see high school and college classes touring the cemetery to visit the historic graves of the Bettendorf family, the Davenport family, the Palmer family and many others who had an impact in the founding and development of our area.

The earliest headstones date back 153 years. From the beginning, a percentage of the payment for each plot was placed in the perpetual maintenance fund. Some of the plots were sold very inexpensively (at one time, you could buy space for your entire family for $40). As you can imagine, just like a home, a cemetery this old requires constant upkeep. More than 30 years ago, the perpetual maintenance fund dropped so low, it was put into receivership.

The judge’s decision to place the perpetual care funds with CFGRB will help fund cemetery maintenance in the future, and that should ease the minds of surviving family and friends. We also help the “Friends of Oakdale” with a fund that receives donations from people who simply want to preserve a historical site.

Now, there will be no question that these funds are invested and administered wisely. We’re very happy to provide this service for such an important piece of the Quad Cities’ history.