News and Updates
GBCHAA Establishes Endowment Fund
The Greater Barber County Historical Action Association Inc. (GBCHAA) has recently created an endowment fund to provide ongoing funding for the preservation of the history of Barber County.
“The Greater Barber County Historical Action Association, Inc. is proud, that after many years of hard work by our organization and its membership, we are finally able to realize our goal of establishing an endowment fund that will help ensure the continued growth and viability of our organization far into the future and aid in the continued pursuit of our goals of developing and preserving the rich history and culture of Barber County and the promotion and enhancement of local economic development.” Tim Wortman – Public Relations - GBCHAA
“We are pleased to establish this partnership with GBCHAA to assist them with the growth and management of their endowment fund” said Angela Runnion, executive director of South Central Community Foundation. An Endowment puts a long-term financial base under the charity. It helps diversify an organization’s income stream and reduces the organization’s dependency on one source of income.
Endowment funds through the community foundation ensure the longevity of charitable gifts to ongoing community needs. Endowed funds require that the original gift remain intact. Earnings from that fund are then granted to meet community needs. These types of funds show stability, long-term planning, and the desire to be committed to the community for years to come. Endowments provide a perpetual funding stream into an organization or community.
The effectiveness of Endowment funds is exemplified by the following donor story.
A patriotic donor was passionate about the local library but displeased when he saw that their flag was quite worn. He started an endowment fund at the local community foundation requesting that the earnings be granted annually to the library for the purchase of a new flag and enabling the library to replace those that become tattered and torn.“Decisions like the one made by GBCAA show a commitment and passion for the preservation of the history of Barber County by ensuring that funds are available to assist in the ongoing and changing needs of the organization” said Runnion. For more information about endowment funds or SCCF, contact the Foundation at (620) 672-7929.