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Wednesday,
May 28, 2003 Retired couple prove everyone can become local philanthropist OGALLALA - A retired Keith County couple who call the plan for a permanent endowment by the Keith County Community Foundation "a wonderful idea" have made a monthly pledge, in hopes others will do the same. Saying they were on a fixed income, the couple said they could not make a major commitment but would like to participate in Foundation’s “Build a Legacy” campaign. Funds raised will be used for Keith County civic projects. The couple told Legacy Challenge chairman F.E. "Pete Peterson" that they had read about the permanent endowment and asked if they could make a monthly payment. Peterson suggested the couple contact Foundation treasurer Jerri Cole at the Pinnacle Bank, where, they banked, and a monthly deduction program was set up. The couple figured they could give $42 a month - which amounts to $2,500 over the five-year Legacy Challenge period. "We hope others will have the same idea," Foundation president Jerry Speck commented, "We are seeking campaign pledges of all sizes." "Everybody can become a philanthropist in this manner, he said, "Everybody can become a part of it.” Larry and Mary Lynn Callen offered a $100,000 challenge if the Foundation could raise another $200,000 to help establish a permanent endowment. The Community Foundation raised the $200,000 and set an initial goal of $400,000, counting the amount offered by the Callens. To date, the permanent endowment pledges total $356,710, according to the foundation treasurer. Investments will be made with financial institutions which contributed to the local "Build a Legacy" endowment. "We are seeking pledges of any amount," according to Peterson. Noting that the Burwell Community Foundation has 700 different contributors, Peterson said he hopes Keith County can reach the same number of participants. Burwell has a population of only 1,130. Peterson observed that several smaller communities in the state have had great success in establishing permanent endowments. He cited the following success stories: - Callaway, population 637, has established a $550,000 endowment. - Shickley, population 376, raised nearly $100,000 to match its $100,000 Legacy Challenge for an unrestricted endowment. - Bassett, population, 1,131, has reached its $200,000 unrestricted endowment; - Red Cloud, population 1,131, has reached its $200,000 unrestricted endowment. - Two $500,000 lead gifts have been received to kickoff a capital campaign for a new $1.4 million swimming pool for Wilber, population, 1,527. The donors have also indicated an interest in building an endowment fund to support the pool. - Endowments and expectancies for the Valley County Foundation Fund now equal $6.7 million, an increaseof$3.65 million in the last year. In addition, Peterson said, Bassett, population 739, has a $2,000,000 expectancy for an unrestricted endowment. All of these endowments are under the umbrella of' the Nebraska Community Foundation (NCF), according to Keith County Community Foundation secretary Beverly Pollock, who is also secretary of the NCF board of directors. Although Keith County Community Foundation funds will be invested - and gifted to projects in Keith County – the local foundation is also under the umbrella of the Nebraska Community Foundation, Pollock said. The purpose of the association with the NCF is for accountability, credibility and liability purposes. A good example of the necessity for being under the umbrella of the NCF, she said, is the recent disappearanceof$86,000 in funds meant for the Golden Spike project in North Platte. The funds were not stolen but by mistake were given in part to affordable housing projects in Lincoln County. While Keith County funds are invested locally, expenditures are audited by the Nebraska Foundation which would prevent such mistakes as occurred in Lincoln County. "The NCF also provides expert advice," she added. Pollock also stressed that the Keith County Community Foundation effort is economic development. Community Foundation gives grant to Paxton Problem SolversAt the Keith County Community Foundation's board meeting last week, the foundation approved a grant of $500 to the Paxton High School Future Problem Solvers. In other business, the Paxton Library Fund and the Travis Ford Memorial Scholarship were unanimously accepted for affiliation. Board president Jerry Speck appointed board members Julie Firman, Joanie Halligan and Kevin Lockhart to a committee to establish guidelines for a fair process in making of grants and to create a grant application form. Bev Pollock will obtain information on these matters from the Nebraska Community Foundation to share with the committee. Grant-making, it was explained, is the goal of the community foundation. Speck also appointed board members Jerri Cole, Jon Holzfaster, Bob Sestak and Doug Teaford to a committee to determine guidelines and budgeting for the amount of money which can be given in grants annually. Jill Firman will seek a recipient for a scholarship established several years ago by Dr. Kapadia. Pete Peterson also reported to the board that Jan Johnson of Kiterman Graphics has established a website for the Keith County Community Foundation. She will also maintain the site as an in-kind contribution to the foundation. The website address is: www.keithcofoundation.org. Board member Kevin Lockhart offered to provide trade-show booths for the Ogallala High School all-class reunion in July and for a booth at the Keith County Fair in August. Liz Haines volunteered to staff the booth for OHS alums arriving to pick up their tickets for alumni events. Return to TOP |
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Nebraska Community Foundation PO Box 83107 Lincoln, NE 68501 Phone: (402) 323-7330 Fax: (402) 323-7349 E-mail: webmaster@nebcommfound.org |
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