A $100,000 matching grant was presented Monday to the board of the Community Foundation of Troup County from the Callaway Foundation, Inc. The funds came from area contributors to fund the Troup Community Endowment Fund.
The Troup Endowment is a permanent fund that has been created by the people of Troup County to help meet area needs now and into the future.
The Legacy Museum on Main Street hosted Monday's event.
Speer Burdette, president of Callaway Foundation, Inc., presented the $100,000 check to Chris Joseph, chair of the Community Foundation of Troup County, and Betsy Covington, executive director of the Community Foundation of the Chattahoochee Valley.
The Community Foundation of Troup County is an affiliate of the Community Foundation of the Chattahoochee Valley.
The Callaway Foundation grant matches an additional $100,000 donations from 45 county donors, 40 of whom contributed $1,000 or more to become a member of the Troup Community Endowment Fund’s Founder’s Society.
Gifts to the fund are not spent; they are invested to provide income each year that keeps giving back to the community in perpetuity. This core endowment of $200,000 will produce annual grants of at least $9,000 to help meet community needs.
A community foundation is a tax-exempt public charity created by and for the people in a local area. It helps people with philanthropic interests easily and effectively support the issues they care about – immediately or through their will.
Donors can establish a charitable fund at the community foundation by contributing a variety of assets and may also recommend grants – in their name, if they choose – to nonprofit groups they want to support.
The Troup Community Endowment Fund is invested as part of the assets of the Community Foundation of the Chattahoochee Valley, headquartered in Columbus, of which the Community Foundation of Troup County is an affiliate organization.
The CFCV currently has more than 170 funds, holds assets of $88 million and makes grants of some $9 million annually in and around the Chattahoochee Valley. The organization annually helps more than 1,000 donors and their families create and support philanthropic funds to make charitable giving easy, fast and effective, according to a media release.