Have you considered starting a community foundation? Roger Porch, Vice President, First National Bank, Philip, and Herb Sundall, Attorney at Law, Sundall Law Office, shared their community foundation stories during the Energize! Conference this past May in De Smet. Roger served as the very first chair of the Philip Community Foundation and Herb is currently serving as chair for the Greater Lyman Foundation They both told of how they worked with the SD Community Foundation to establish their community savings account, gained community buy-in, and reached challenge goals to receive the Challenge Grant.
A Community Savings Account (CSA) offers you an opportunity to give a perpetual gift to the Philip area. The fund is invested by the SDCF and 4.5% of the average value is available to give back to nonprofits each year. As the fund grows, so does our ability to make a local impact. Our board of directors gives grants to support basic needs and enhance the quality of life within and around Philip (Philip Area Community Foundation).
For more information, visit Philip Area Community Foundation website.
Benefits to the Community!
All across South Dakota, people are enhancing their communities through generous donations to community foundations like the Greater Lyman Foundation. By contributing to the GLF you’re supporting the success of our Greater Lyman Community. Your donations will be placed in a permanent endowment, with earnings distributed by the local board. As a result, the community benefits through economic and community development (Greater Lyman Foundation).
Our Mission: The Greater Lyman Foundation was established to enrich and promote the future of the Lyman area.
For more information, visit the Greater Lyman Foundation website.
We Believe in Our State
Since 1987, the South Dakota Community Foundation has helped people reach their philanthropic goals and strengthen communities by making your charitable donations do more. Every day we work to simplify the process and grow charitable donations through careful investment—so these donations can go further and do more good throughout the state of South Dakota (South Dakota Community Foundation).
“Focusing on community capacity building changed how our staff and board think about our work. We realized it was about more than giving a grant for a local food bank or a fire house; it was about bringing people together to plan for the future of the entire community and, for that matter, multiple communities. We redefined our objectives for endowed philanthropy and community development and created an entirely new set of grant guidelines.”
A community foundation or fund, as they are sometimes called, can receive monies targeted for specific, local projects and programs. It can also establish a permanent, unrestricted endowment from which only the interest earnings may be used in the community (University of Minnesota Extension).
Local foundations can expose community needs and make recommendations on how to meet those needs. In doing so, they may work alone or with other organizations. A community foundation can fund such things as:
- Revolving loan funds for business start‐ups
- Police or emergency medical equipment
- Scholarship programs
- Cultural and historical society projects
- Daycare centers
- Senior citizen transportation
- Disaster assistance for residents
Local foundations can seek outside financial support from federal, state, and private sources, serving as an advocacy body for the community. They can coordinate joint local government and private sector efforts. Foundation board members can become knowledgeable about private and public funding sources which can supplement local foundation support when necessary (University of Minnesota Extension).
Almost all segments of the community can benefit from an active foundation. During periods of economic uncertainty, a foundation can represent stability. It presents a positive image of the community to residents and visitors. It indicates pride, commitment, and a sense of community (University of Minnesota Extension).