First Fidelity Bank & Tripp County Community Foundation

Founded in 1995 Giving Back to Tripp County

The First Fidelity Bank/Tripp County Community Foundation operates under the guidelines of the South Dakota Community Foundation and was set up to encourage philanthropy in Tripp County. In 1995, First Fidelity Bank offered to make a $50,000 donation to each community in which a First Fidelity Bank is located to encourage donations to a perpetual endowment which is maintained by the South Dakota Community Foundation. The funds were to be donated on a matching dollar for dollar basis with private donations. The Winner/Colome locations combined their funds and met the challenge by raising matching funds in the amount of $100,000.

Under the Tripp County Community Foundation umbrella, we have several funds specially designated for scholarships, special interest groups, along with undesignated funds used for community grant making. The total net assets exceed $3.6 million. All funds have come through private donations and memorial gifts. This was accomplished through the efforts of very generous Tripp County residents.

The First Fidelity Bank/Tripp County Community Foundation funds are permanent endowments of which ~ 4.5% of the 4-year rolling fund balance is made available annually to be used for grant making to non-profit organizations or causes designated in the fund agreement. The principal invested is never used, only a portion of the earnings are made available for distribution. This ensures that the funds in this foundation will benefit our community into perpetuity. Since the establishment of this foundation, we have made community grants and scholarships in excess of $956,000.