Giving to an Endowment – A Gift that Keeps on Giving

What if you could help ensure the long-term financial stability of a favorite charity? What if your contribution became part of a permanent fund, invested for long-term growth to generate earnings over time? And what if a portion—say 5%—was distributed each year to support the charity’s mission?

You would know your gift is making an impact today, while also helping sustain that impact for years to come. This is how an endowed fund works.

Endowments are particularly well suited for charities with a proven track record and for those delivering services that will always be needed. These funds are designed to provide a steady, reliable source of income, helping organizations better weather fluctuations in funding, expenses, and financial markets. A typical spending rate of around 5% is intended to balance current needs with long-term growth, allowing the fund to continue supporting its mission while keeping pace with inflation over time.

The Faribault Foundation sponsors a number of endowed funds. I’d like to highlight two of these— IRIS (Infants Remembered in Silence) and the Faribault Foundation Women Who Care Endowment Fund—both of which are hosting important events this spring.

The Women Who Care Endowment Fund grew out of the 100 Women Who Care event, which meets annually to raise money for a local nonprofit selected by those in attendance. Past recipients include Believet (service dogs for veterans), the Hope Center, Light of Hope Cancer Foundation, Ruth’s House, and the Community Action Center. The fund is now two-thirds of the way toward its endowment goal of $200,000, which could support approximately $10,000 in annual grants. You can help by donating directly to the fund, attending the next event, or both. On Saturday, May 2, join us at the Paradise Center for the Arts for Le Parti, benefiting Women Who Care Endowment and the Paradise Center for the Arts.

Infants Remembered in Silence (IRIS), which provides complimentary, comprehensive, and individualized bereavement services for families experiencing fetal loss and stillbirth in Faribault and surrounding communities, will celebrate its 40th anniversary next year. Director Diana Kelley created and nurtured the organization as part of her own healing process after experiencing a stillbirth. There are few organizations like it in the state of Minnesota.

IRIS’s donors include the hundreds of families they have served—many of whom may not have known about this special organization until they were suddenly faced with the loss of a baby. Chances are that the kindness of IRIS volunteers has touched you or someone close to you. Last year, the Faribault Foundation awarded IRIS a matching grant to help establish an initial endowment of $10,000. Donors responded generously, expressing their hope that the fund will continue to grow and support IRIS for years to come. You may wish to add to that endowment. And for a night of celebration, consider attending the Women’s Little Black Dress Event—one of IRIS’s signature fundraisers—at the Owatonna Country Club on April 18.

For more information about these endowments and upcoming events, visit faribaultfoundation.org and irisremembers.com.

Sarah Beckman serves on the board of directors of the Faribault Foundation.