Tompkins Today and Tomorrow Endowment Fund for Grantmaking
Endorsed by the Foundation’s board of directors, together with a group of local advisors and volunteers, a special initiative is underway to raise grantmaking funds for the Tompkins Today and Tomorrow Endowment (TTT) Fund, as part of the Foundation’s 25th anniversary celebration.
For 25 years, hand-in-hand with local nonprofits, Community Foundation of Tompkins County has earned its reputation as a trusted partner and resource that helps local nonprofit organizations thrive and magnify the philanthropy of generous community members. The Foundation has awarded $33 million in grants thanks to collective gifts from individuals and businesses to nearly 700 nonprofits. The impact on our community is substantial; these funds help nonprofit organizations fill gaps in public funding, respond to unmet and emerging needs, and launch new strategies and projects.
“In a nutshell,” says board chair Frank Kruppa, “the Community Foundation brings together good people trying to do good things for the community.”
The Foundation has shown its abilities to serve critical and growing needs throughout Tompkins County and strengthen partnerships with those nonprofit organizations and donors committed to lifting and revitalizing our communities.
Why an endowment matters
Increasing the size of the Foundation’s grantmaking endowment will provide a source of stable, permanent funding to supplement annual gifts and grants from donor-advised and field-of-interest funds. Unlike nearly every community foundation in the United States, which were launched with significant endowments from their very beginning, Community Foundation of Tompkins County was established without an endowment gift — a key reason current leaders have identified support for the TTT endowment as a top priority.
Endowed funds are invested, and a portion of the earnings are drawn each year for program support. Currently, the TTT Endowment is $325,000. But building the TTT endowment will create an additional, predictable, and flexible source of income for an even wider range of programs. A larger Tompkins Today & Tomorrow Endowment will help to ensure that support will be there when needed.
“It’s important that we, as local residents, keep an eye on our local community to keep it as healthy as we can,” says Susan Murphy, one of the leaders of the endowment initiative and a former board chair. “The Community Foundation serves as both a hub and catalyst for the community. It convenes conversations, identifies needs and opportunities, and offers support.”
How you can help
Gifts of all sizes to the Tompkins Today & Tomorrow Endowment Fund are welcome. While this initiative is designed to secure gifts of many types (cash, real estate, securities, donor-advised funds, qualified charitable distributions) to build the endowment immediately; certain planned gifts, such as future gifts from your will, retirement assets, irrevocable trusts, are wonderful.
For more information, please contact:
George P. Ferrari, Jr., Chief Executive Officer, gferrari@cftompkins.org
Nancy Massicci, Chief Development Officer, nmassicci@cftompkins.org
Or call 607.272.9333
