During October, the Oklahoma City Community Foundation will distribute $9 million to 370 charitable organizations serving central Oklahoma. The annual funding comes from the Community Foundation’s charitable organization endowment program, which is the largest permanent endowment program for nonprofits in the nation.
“We are honored to manage endowments for our community’s nonprofits,” said Nancy B. Anthony, Oklahoma City Community Foundation President. “This program provides an important source of funding to help ensure vital charitable services and programs will continue.”
Charities receiving funding have permanent endowment funds at the Community Foundation and serve central Oklahoma in areas such as education, health care, social services, arts and culture.
“The Oklahoma City Community Foundation’s charitable organization endowment program allows organizations such as ours to have a base of funding that we know we can count on year after year,” said Jane Sutter, president and CEO of Boys & Girls Clubs of Oklahoma County. “Individuals who want to contribute to the endowment can do so very easily. It’s an investment in our future.”
How Does an Endowment Fund Work?
|1||A charity or a donor establishes a permanent fund at the Oklahoma City Community Foundation to benefit a 501(c)(3) organization.|
|2||The Community Foundation invests the fund with our general pool, so that it benefits from investment performance.|
|3||Donors contribute to the fund and, over time, the fund grows through investment performance and additional donor gifts.|
|4||Each year, the beneficiary charitable organization receives a cash distribution from the fund to support its work. Distributions are equal to 5 percent of the fund’s average market value for the previous 12 quarters. As the fund balance grows, so does the organization’s annual distribution.|
To learn how to make a gift to one of 370 charitable organization endowments, visit occf.org/coegift.