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Friday, April 8, 2016

E.O. Austin Home/Historical Society Fund Receives First Grant

E. O. Austin Home/Historical Society was recently awarded its first grant of $704.52 from its endowment fund established at Community Foundation for the Twin Tiers last year. Endowment funds are important to non-profit agencies because they provide an on-going stream of income to support long term sustainability.

Endowment funds are created and then grow through investment earnings and any additional contributions. A percentage of earnings from the funds are then issued through grants to help support the endowed agency. The remaining earnings and the fund balance are continuously growing to give back forever. A properly managed endowment fund will increase over time far beyond its original investment value thus providing a charitable cash flow into perpetuity.

By setting up an endowment fund through CFTT, the Board members of E. O. Austin Home/Historical Society have guaranteed that the preservation of important local history will be sustained for generations…..forever.

1 comment:

Anonymous said...

Go E.O. Ebbert, thank you for your service and everything you do for the little town of Austin!