The Community Foundation of Boone County (CFBC) has received a matching fund grant totaling $1,500,000 as part of the ninth phase of Lilly Endowment Inc.’s initiative, Giving Indiana Funds for Tomorrow (GIFT IX).
CFBC will use the funding to build its unrestricted endowment, allowing more support and resources for the immediate and long-term needs of the growing Boone County community.
Qualifying matching funds raised to support the community foundation’s unrestricted endowment will be eligible for a $2(grantor)-to-$1(grantee) match from the Endowment.
“Boone County is experiencing tremendous growth, and with that growth comes both new opportunities and evolving needs. This investment from Lilly Endowment allows us to look beyond the needs of today and build a stronger foundation for generations to come. By matching every dollar contributed to our unrestricted endowment with two additional dollars, GIFT IX gives our donors an extraordinary opportunity to multiply their impact. Together, we can ensure that as Boone County grows, our ability to invest in its future grows with it.”
Through GIFT IX, Lilly Endowment has awarded matching grants totaling $124.5 million to community foundations across Indiana. Eligible community foundations submitted proposals requesting grants ranging from $250,000 to $13.2 million based on the population of the counties they serve.
Lilly Endowment created the GIFT initiative in 1990 to help local communities in Indiana develop the philanthropic capacity to identify local needs and challenges and work with other organizations and residents to help their communities thrive. Through GIFT IX, Lilly Endowment has awarded $259.7 million to support community foundations in each of Indiana’s 92 counties. These grants are helping community foundations grow their financial resources and further strengthen their ability to address their community’s highest-priority challenges and opportunities.
ABOUT THE COMMUNITY FOUNDATION OF BOONE COUNTY
The Community Foundation of Boone County exists to unite people, organizations, and philanthropy to create a thriving community for all. Since 1991, its leaders have worked to empower and engage local communities to make a difference right here in Boone County, while also leading a vision to collaboratively address the root causes of challenges facing Boone County in diverse and equitable ways. The Community Foundation continues to invest in the people working to fill local needs and has granted more than $33 million to nonprofit organizations and programs working to solve critical challenges in Boone County. With nearly $45 million in assets, the Community Foundation works with donors to create permanent funds for charitable giving, to strengthen Boone County for generations to come.
ABOUT LILLY ENDOWMENT INC.
Lilly Endowment Inc. is an Indianapolis-based private foundation created in 1937 by J.K. Lilly, Sr. and his sons Eli and J.K. Jr. through gifts of stock in their pharmaceutical business, Eli Lilly and Company. Although the gifts of stock remain a financial bedrock of the Endowment, it is a separate entity from the company, with a distinct governing board, staff and location. In keeping with the founders’ wishes, the Endowment supports the causes of community development, education and religion. The Endowment funds significant programs throughout the United States, especially in the field of religion. However, it maintains a special commitment to its founders’ hometown, Indianapolis, and home state, Indiana.