Carroll H. Starr Endowment Challenge
The Carroll H. Starr Endowment Challenge is an opportunity for nonprofits in Boone, Ogle, Stephenson, and Winnebago counties to build a permanent endowment at the Community Foundation of Northern Illinois.
Participants select an amount, between $15,000 and $150,000, and have two years to meet their goal. If participating organizations reach their goal by the deadline, CFNIL will grant $1 for every $3 that the nonprofit contributes to an agency endowment. For example, if a participant raises $60,000, CFNIL will contribute $20,000 to the endowment established at the Community Foundation of Northern Illinois.
The annual distribution from the agency endowment will support the organization’s mission for generations to come.
For questions about the Carroll H. Starr Endowment Challenge, contact CFNIL’s Community Investment Director Sarah Lambert at email@example.com or 779-210-8207. For questions about CFNIL’s stewardship of your organization’s endowment, contact CFNIL President Jon Bates at firstname.lastname@example.org or 779-210-8201.
Organizations that wish to participate in the Carroll H. Starr Endowment Challenge, must submit an application that declares the organization’s goal and the rationale behind choosing that figure, its plan for meeting the goal, and how endowment will support the ongoing needs of the organization. The Carroll H. Starr Endowment Challenge is a competitive process. Applications will be scored by a committee of volunteer reviewers and ultimately voted on by CFNIL’s Trustees.
Carroll H. Starr Endowment Challenge X is anticipated to open in late spring 2020. It will be the tenth time the program is offered to area nonprofits; to date, the Carroll H. Starr Endowment Challenge has had 32 participants.
Creating an endowment is a major decision for an organization. CFNIL encourages organizations that are considering participating in the Carroll H. Starr Endowment Challenge to start thinking about how an endowment can support your organization’s long-term plans. Past participants are encouraged to participate again.
Have more questions about endowment or the Carroll H. Starr Endowment Challenge? CFNIL’s staff would be delighted to answer your question.