In it’s seventh phase of the Giving Indiana Funds for Tomorrow (GIFT) initiative the Lilly Endowment has given a $500,000 grant to the Putnam County Community Foundation. The endowment will give $2 for each $1 contributed to the Putnam County Community Foundation’s unrestricted endowments between Oct. 1, 2018 and Dec. 31, 2020.
The grant will be available for the Foundation to further support it’s charitable work and grow it’s financial assets. To help the Foundation meet future community needs, at least two thirds of the matching grant must be designated to support the growth of unrestricted endowments. The Putnam County Community Foundation can choose to dedicate up to one-third of the grant funds to support specific community or charitable projects or apply it to it’s own operating cost.
Community foundations across the state will be receiving up to a combined $125 million as a result of the GIFT endowment.
As a challenge to the Putnam County Community Foundations board of directors, the Endowment will award an additional $100,000 unrestricted grant if the foundation has 100 percent financial support from it’s board members between Jan. 1, 2019 and June 30, of 2020.
The Endowment is designed to support community development, education and religion. The Lilly Endowment started it’s first phase in 1990 and has been impacting communities ever since.