The Greater Polson Community Foundation (GPCF) has been given an opportunity other local community foundations only hope for. Anonymous donors have offered a $50,000 “Challenge Match” if other GPCF donors collectively raise another $50,000.
This offer makes every donation made after October 15, 2014 double in value. Every gift of $25 becomes $50; every $100 becomes $200; every $1,000 becomes $2,000. Thus, the $50,000 “challenge” plus the $50,000 “match” mean $100,000 will be added to the GPCF permanent endowment fund. As the permanent endowment increases in size, there are more earnings available to answer needs within our community.
The endowment is permanent, meaning only earnings are spent and not the principal. Therefore, the principal of the endowment continues to grow resulting in increased annual distributions available to improve our community. Currently, the permanent endowment amounts to $356,000. The addition of $100,000 will have a profound impact on future earnings.
GPCF president Penny Jarecki said, “This challenge grant also makes a profound statement about the generosity of the donors, their support of and belief in the GPCF’s potential, and their love and commitment to our community.”
GPCF directors have set the goal of raising the $50,000 match by next summer. Already, $12,000 has been pledged or donated to the match.
“We hope new, as well as current donors, will take this opportunity to double their investment in our community’s future. This is one of those ‘once- in- a- blue moon’ chances to make a real difference for Polson,” Jarecki said.
Donors to the “Match” will be acknowledged for their generosity at the annual “Passion for Polson Celebration” in August, 2015.
What does an increase of $100,000 mean to the permanent endowment fund of the GPCF after 10 years? The original 100K would be increased to $134,000 based on historical growth, and there would also have been generated $41,800 in cash distributions to benefit the Polson community. That is more than a 100 percent return on our effort to raise the $50,000 Challenge Match. This is food for thought in this season of Thanksgiving. – John Cowan, GPCF Treasurer