The year 2020 proved that successful non-profits need a stable source of income in order to weather the storms of unpredictable economic or societal hardships. Thankfully, COM has a strong Endowment Fund built by previous donors that greatly helped us endure the COVID-19 crisis. However, as we continue to expand our ministries, we need your help to grow this endowment fund to meet our future needs.
Unlike traditional donations to an organization where funds are given and then used up, a gift to an endowment fund continues to give back for years to come. Money placed in an endowment fund is invested by professionals and the interest and earnings are then distributed back to the charitable organization. For example, with COM's current endowment fund we receive about $22,000, or 4% of the fund's value, back each year for use in our daily programs. This means that in just 5 years a simple $500 donation will have generated an extra $100 for COM's direct use with no extra effort on your part! This is an invaluable support not just in an economic crisis, but even in normal times.
As COM continues to expand our ministries to help more people here in Polk County we also need to grow our endowment fund. The more we can build up the endowment, the less we have to be reliant on grants and recurring donations which can ebb and flow. The year 2020 saw a 10% increase in the number of clients COM served and we intend to do everything we can to meet the needs in our community. But it takes your help.
Will you consider making a donation to COM's Endowment Fund? Whether it is a $50 gift or a $10,000 gift, every amount is appreciated and makes a difference.