Rotary Club of Freedom Endows 4 Nonprofits with $64,500 Each
By Jondi Gumz
Ben Post, president of the Rotary Club of Freedom, announces endowments totaling $258,000 have been funded for four local nonprofits working to improve lives in the Pajaro Valley.
Jacob’s Heart Children’s Cancer Services, Loaves & Fishes, Pajaro Valley Shelter Services and Santa Cruz County Fairgrounds Foundation each received an endowment of $64,500, providing annual income in perpetuity.
All of the endowments are managed by Community Foundation Santa Cruz County, with the investment income accruing to each nonprofit, providing a steady stream of earnings and potentially attracting more financial support.
As the National Council of Nonprofits put it, “A nonprofit with an endowment may send a signal to the community and donors that the organization is thinking long-term and building assets for its own future sustainability.”
Loaves and Fishes provides a free lunch program Monday through Friday, along with a Pantry Program and training. Ashley Bridges, the executive director, plans to leverage this endowment to seed additional donations.
Jacob’s Heart improves the quality of life for children with cancer and supports their families. Lori Butterworth, the executive director, plans to use the endowment to attract matching donations.
Pajaro Valley Shelter Services provides families with a path to self-sufficient futures through short- and longer term housing.
Santa Cruz County Fairgrounds Foundation supports the improvement and maintenance of the Fairgrounds.
The Rotary Club of Freedom has long supported these four local nonprofits, with the support coming from traditional fundraisers such as dinners and auctions, which this year have been impossible to host due to COVID-19 restrictions.
Creating an endowment is an approach commonly used by large institutions such as universities and hospitals — and Rotary Club of Freedom, with 20 members, is not a large organization.
The idea to create endowments came from Watsonville lawyer and ag consultant Kirk Schmidt, who is a member of Freedom Rotary and on the board at Community Foundation Santa Cruz County.
The Rotary Club of Freedom is also establishing a $50,000 donor-advised fund with Community Foundation Santa Cruz County to facilitate additional annual gifts to local nonprofits.
The Rotary Club of Freedom has been supporting community service since 1978. The club meets on Zoom twice a month at 1 p.m. every other Tuesday. Contact the president, 831-886-1641, if you are interesting in attending.
- Jacob’s Heart: Call Lori Butterworth (831) 724-9100.
- Loaves and Fishes: Call Ashley Bridges (831) 319-4570.
- Pajaro Valley Shelter Services: Call: Mike Johnson (831) 728-5649.
- Santa Cruz County Fairgrounds Foundation: Call Jeannie Kegebein (831) 786-9698.