By Diane E. Hannum

As Director of the Northern Chautauqua Community Foundation (NCCF), I am frequently asked what exactly the Foundation does.    My answer typically includes information about our endowment funds and their value to the community.  After the conversation has concluded, however, I often wonder if the listener really understood my explanation of endowment funds and how they benefit our community.

So, what is an “endowment fund” anyway?  An endowment fund is made up of one or more charitable contributions.  The contributions come from local individuals, families, businesses and organizations.  The original amount(s) contributed to an endowment fund is never spent; it is invested in a combination of stocks and bonds.  The income earned from the investments, such as dividends and interest, is granted or given to local charities and scholarship students based on our established investment policy.

The NCCF has over 250 separate endowment funds that benefit all aspects of a healthy and vibrant community – such as the arts, hospitals, youth organizations, the environment and the community in general.  Many of these funds are specifically used for scholarships for our local youth.  Some funds have been established by one individual or family; others have been created through the efforts of many community members pooling their contributions.

People like endowment funds for many reasons.  First, endowments are permanent.  Many like knowing that their contribution will be helping the community today, tomorrow and well into the future.   Some establish a fund as a way to memorialize a loved one.  Others wish to establish an endowment in their own name as a means to place themselves on permanent record as one who supports and believes in a particular program or cause.  Perhaps most importantly, donors realize that although someday they will be gone, through an endowment fund they can keep on giving.

A named endowment fund can be created during life or at death through one’s will.  It can be restricted to specific local needs or intended for general use throughout the community.  You can create your own fund or contribute to one that already exists; either way, donating to an endowment fund is easy and beneficial.            

To establish an endowment fund, contribute to one of our existing funds, or for more information, contact the NCCF office at 366-4892 or dhannum@nccfoundation.org.  You owe it to yourself, your family, and your community to consider this charitable option.

The NCCF, located at 212 Lake Shore Drive West in Dunkirk, was established in 1986 as a tax-exempt charitable organization to enrich the Northern Chautauqua community and encourage local philanthropy.