Local charities looking to develop their own sustainable source of funding can take advantage of the Community Foundation for Kingston & Area’s (CFKA) new matching grant opportunity.
The Community Foundation is offering matching funding of up to $10,000 for local charities wishing to establish a new endowment fund with them, according to a release from CFKA. An endowment fund can provide a long-term, sustainable income stream to support ongoing operations or specific programs.
“We know the pandemic has hit charities hard, and that it is getting harder to fundraise for critical unrestricted or operating funds,” said CFKA Executive Director Tina Bailey. “This is one way the Foundation is investing in our community’s long-term recovery – by using our model and doing what we do best to help charities develop their own reliable source of annual funding.”
The Foundation’s Board of Directors has set aside sufficient funds to offer a dollar-for-dollar match for up to ten charities to establish a new Agency Fund at the Foundation, according to the release. Participants must be a registered charity in the geographic area served by the Foundation, and funds are to be used to establish new funds. A smaller match of up to $1,000 is available to the twenty-five charities that have existing funds held at the Foundation.
“While growing an endowment fund to a size where it contributes a meaningful annual amount on an annual basis will take time, the only way to get there is to start, and this a great way for charities to double their investment in the first year,” said Bailey.
For more information on establishing an endowment fund with the Foundation, visit their website at cfka.org/give/charities.
Charities interested in taking advantage of this matching opportunity are asked to send their expression of interest to the Foundation’s Executive Director Tina Bailey at [email protected] by Wednesday, June 30, 2021.