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Community Foundation Created for Bowman and Slope Counties
November 06, 2014
Bowman, ND – A group of local residents has recently established an endowment fund for Bowman and Slope Counties through the North Dakota Community Foundation, providing a mechanism for others to support the area for many years.
“A Community Foundation has been a part of our County’s Strategic Plan for years,” says Teran Doerr, Executive Director of the Bowman County Development Corporation “It gives us an opportunity to provide a more permanent way to support the organizations in our communities.”
An endowment fund is a permanent, flexible, general purpose charitable fund. Earnings from the fund can be given as grants to support projects and programs in the area, but the principle generally remains intact, continuing to provide income for many years.
Fifty-six North Dakota communities of all sizes have established community endowment funds through the North Dakota Community Foundation (NDCF), including Pembina, Larimore, Casselton, Anamoose, Minot, Killdeer, Mott, Bismarck, and Ellendale. Some of the community endowment funds give out over $10,000 in grants to local organizations every year to a variety of projects and programs in their area.
“We are hoping the fund will grow over time,” says Ron Palczewski, President of Dakota Western Bank. “We want others to know that this fund has been set up and that it is a great way to provide support to charitable organizations in Bowman and Slope Counties forever.”
An advisory committee made up of local residents will determine grant awards and help fundraise. Initial advisory committee members include Ron Palczewski, Les Snavely, Teran Doerr, Jeanine Clendenen, Kasey Burke, Carla Teske, Amy Fischer and Scott Hardy. The NDCF provides professional management of the fund as well as administrative support to the local committees.
Additional donations can be added to the fund at any time. The Bowman-Slope Community Foundation is considered a qualified ND endowment fund and gifts to the fund that are over $5,000 should qualify for the generous 40% ND income tax credit.
“This fund can make a real difference in our communities,” says Doerr. “It is truly an investment in our future.”
For more information about the newly formed Bowman-Slope Community Foundation, go to www.ndcf.net/BowmanSlope or contact Teran Doerr at 701-523-5880. Those people interested in contributing to the fund can donate online at www.NDCF.net by clicking “Donate Now” and selecting “Bowman-Slope Community Foundation” from the listing of funds.Back