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Dec. 3, 2018 -- The Carroll County Community Foundation has received a grant of $500,000 as part of Lilly Endowment Inc.’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. With GIFT VII, Lilly Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities and counties they serve.
The Carroll County Community Foundation can use this matching fund grant to build its financial assets to support charitable activities. At least two-thirds of the matching fund grant must be designated to support the growth of the Foundation’s unrestricted community endowment funds, which provide flexibility to help to meet community needs. Lilly Endowment will provide $2 for every $1 contributed through the Carroll County Community Foundation’s unrestricted endowments during the matching period, October 1, 2018, through December 31, 2020.
Included in GIFT VII is the option to designate up to one-third of the matching fund grant to support other types of endowed funds. Lilly Endowment will provide 50 cents for every $1 that donor’s give to the Foundation’s other types of endowed funds during the match period.
“GIFT VII is an unexpected opportunity to build endowed funds that will serve the community now and for future generations,” said Dr. Greg Norman, Chairman of the Carroll County Community Foundation Services Committee. “Grants awarded through our unrestricted community endowment funds meet current needs and support the essential work of nonprofits in the community. Recent grants from our unrestricted funds include support to the Delphi Public Library for educational virtual reality equipment and the Town of Burlington for community building renovations. This match gives the Foundation the potential to increase funds available for grants.”
The GIFT initiative is part of Lilly Endowment’s grantmaking to strengthen Indiana communities and has been a priority of the Endowment since the first phase of GIFT in 1990. The initiative’s primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize and address local opportunities and challenges.
To encourage the engagement of the Carroll County Community Foundation’s Services Committee, the Endowment also will award an additional $100,000 unrestricted grant if the Foundation achieves 100 percent financial support from its services committee members through June 30, 2020.
Starting in 2019, the Carroll County Community Foundation will have the opportunity to apply for more funds through GIFT VII’s community leadership grants. This component includes both planning and implementation grants, which are available to help the Foundation deepen its understanding of the challenges and opportunities facing its community; convene key local stakeholders and explore how it can effectively play a leadership role in implementing initiatives and strategies that enhance the quality of life in Carroll County.
Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1937 by three members of the Lilly family – J.K. Lilly Sr. and sons J.K. Jr. and Eli – through gifts of stock in their pharmaceutical business, Eli Lilly & Company. The Endowment exists to support causes of community development, education and religion. Lilly Endowment’s community development grantmaking is designed to support efforts that enhance the quality of life in Indianapolis and Indiana.
The Carroll County Community Foundation, established in 1997, is a not-for-profit charitable organization governed by a volunteer board of local citizens. The purpose of the Foundation is to serve the interests of donors, to make grants and to act as a catalyst around issues of community importance in Carroll County. For details about making a charitable gift or establishing a permanent endowment fund to benefit a charitable organization or interest in Carroll County, please contact the Carroll County Community Foundation at (800) 964-0508 or visit the Web site at www.cfcarroll.org.