Community Endowment Challenge
is a partnership between the Lubbock Area Foundation, Inc.
and the CH Foundation for the purpose of encouraging a tradition
of endowment building in the South Plains area. The Community
Endowment Challenge will build the financial capacity
of organizations with valued programs to continue to provide
services in this area.
Community Endowment Challenge
will provide challenge grants to fund endowments within
the Lubbock Area Foundation for participating organizations.
Participating organizations will receive a contribution
to their endowment equal to 50% of the amount they raise
in new endowment funds. Participating organizations
will also receive funding for operating support equivalent
to 4% of the asset value of the endowment as though the
endowment were already producing income during the first
to Organization: $156,000
the Community Endowment Challenge
is intended to generate new endowment money, an organization
may not use its own existing endowment or reserves for the
program with the exception of the $10,000 initial contribution.
Pledges must be payable directly to the Lubbock Area Foundation
as they are received.
Any nonprofit organization within the fifteen counties of
the South Plains region, with the exception of churches
and hospitals, which meets the following criteria is eligible
to submit an application:
Designation as a 501(c)(3) organization;
Continuous operation for a minimum of 3 years;
A successful fundraising track record;
At least $10,000
must be contributed toward the intended endowment goal at
the time the application is submitted. The remaining funds
made from an organizations existing funds. The
remaining funds must be contributed by third party donors to
the endowment within 12 months of acceptance into the program
gifts must be received by the Lubbock Area Foundation, Inc.
within 12 months of the agencies acceptance into the program.
To qualify for the matching grant, an organization must
have raised the entire endowment goal. In the event the
required amount of is not raised, the challenge grant will
not be awarded but all funds contributed will remain within
the Lubbock Area Foundation in the organizations designated
organization, with support from Lubbock Area Foundation,
is responsible for contacting and collecting all pledged
cash and other assets.
intent of this program is to create permanent endowment
that will grow and serve the organizations needs forever.
Thus, the corpus will be considered a perpetual fund within
the Lubbock Area Foundation. Funds may be added to the organizations
endowment at the Lubbock Area Foundation at any time through
memorial gifts, or the organizations own fundraisers,
or reserve funds. The Lubbock Area Foundation will invest
the corpus along with its other funds to produce a reasonable
mix of income and capital appreciation. Distributions will
be paid to the designated organization and fees assessed
annually according to the Foundation spending policy rate
that is in effect at the time.
Cover Letter - briefly describes the grant request and is
signed by Board Chair
Organizational Information (limit 3 pages)
provided and persons served
of Board of Directors; and
and phone number of contact person
Fundraising Information (limit 2 pages)
for raising funds necessary to fulfill the Challenge
information on how your present endowment (if any) was acquired
and current value
plans for future growth of the Challenge endowment
4. Financial Information - provide administrative budget
for past 3 years. Explain how any operating deficits were
Most recent audit
Current organizational budget
to the following agencies who have successfully completed
the Community Endowment Challenge:
of Lubbock Animal Services