DEWITT — The LincolnWay Community Foundation recently announced a new scholarship available through the DeWitt Area Fine Arts Foundation.
A new $10,000 endowment will be devoted to the Central DeWitt Fine Arts Scholarship.
Overall, LincolnWay has distributed $79,910 in agency and donor-advised endowment payouts for fiscal year 2019.
Community foundations are charitable organizations that administer funds to benefit their communities and improve the lives of people in their geographic region. Nonprofit organizations and community members can create endowment funds at the LincolnWay Community Foundation to benefit charitable causes.
These funds are invested and paid out annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations forever.
Endowment funds help organizations like the DeWitt Area Fine Arts Foundation.
“The fine arts foundation invested $10,000 with the Community Foundation in June of 2017,” said Marsha Witte, president of the area fine arts foundation. “This is the first year that our endowment will pay out and be used for the scholarship we give to a Central DeWitt senior active in fine arts during their high school career.”
Multiple nonprofits have established endowment funds through the LincolnWay Community Foundation. Nonprofit leaders look to the foundation to hold their organizations’ endowments because the reliable source of funding helps them to respond to emerging needs as well as to plan and sustain the good work they do, said LincolnWay Executive Director Pat Henricksen.
Donors who give to endowments through a community foundation also benefit from the Endow Iowa 25% State Tax Credit in addition to federal charitable income tax deductions.
“The LincolnWay Community Foundation inspires communities by connecting people with causes and resources for all generations,” said Henricksen. “Thanks to the support of local donors, these dollars will continue to support local causes for many years to come.”
An affiliate of the Community Foundation of Greater Dubuque, LincolnWay Community Foundation assists in charitable projects and programs that contribute to the quality of life in rural Clinton County. The foundation provides grants, scholarships, tax benefits and administration services to organizations, churches, schools and individuals with charitable intent in Calamus, Charlotte, Delmar, DeWitt, Goose Lake, Grand Mound, Lost Nation, Low Moor, Welton and Wheatland. To learn more, visit dbqfoundation.org/lincolnway.