PCCFF Update: Endowment payout supports local needs
The COVID pandemic of the past year had changed a lot of things in our lives. One thing that hasn’t changed within the past year, however, is the effectiveness and ability of the Perkins County Community Foundation Fund (PCCFF) to generate funds to assist the county in moving worthwhile projects forward to help Perkins County thrive.
The PCCFF has an unrestricted endowment fund of some $600,000, increased by the 2019 endowment campaign which raised over $190,000. The PCCFF endowments are managed by the Nebraska Community Foundation, which also manages some $50 million in “unrestricted” endowed assets for 78 other “community based affiliated funds” in Nebraska. Currently the PCCFF is receiving a “payout” of over $17,000 in the current fiscal year ending July 1, 2021.
A three year “rolling average” is used to determine payout, which provides stability through variations in annual economics, as has been the case recently. Since the 2019 endowment campaign is recent, the Fund is currently in the 3-year time frame and the annual payout will likely increase in the coming several years to perhaps $25,000, depending on the economy and investment returns. New contributions to the endowment fund would also potentially increase payout. Earnings on the endowment investments presently provide 4.5 percent annual payout with additional earnings providing growth to the endowment assets. Total “annualized returns” for the past three years have been near 7 percent.
Jeff Yost, CEO of Nebraska Community Foundation, points out that local Funds are “discretionary funds”, available when and where needed. This differs somewhat, Yost maintains, from other organizations and agencies that may be restricted by budget limitations.
The payout from the endowment is used to fund grants for local community projects within Perkins County, including recent funding for an archery club, hospital equipment, and iPads for Golden Ours Home. Grants for community projects by the local Fund are available by applying with Michelle Ross, treasurer at 308-882-8469. Government entities and 501-c-3, non-profit organizations are eligible.
The author is Dennis Demmel, chairman of PCCFF. The Perkins County Community Foundation Fund maintains an unrestricted endowment fund to support projects that provide positive community impact. PCCFF has a vision of “promoting vibrant communities and a high quality of life”. Local government and nonprofit entities can apply for grant funding from the Fund. For grant applications or to make contributions contact Treasurer Michelle Ross at 75785 Road 344, Elsie, NE 68134 or michelle.ross@pinnbank.com. The PCCFF is a nonprofit 501c3 affiliate of the Nebraska Community Foundation.