First Interstate Bank Lead-Deadwood Community Fund
Founded in 2010, the First Interstate Lead-Deadwood Community Fund (LDCF) is a non-profit organization designed to support area cultural, charitable, recreational and educational organizations, as well as individuals living within the boundaries of the Lead- Deadwood school district. The local fund is administered by the South Dakota Community Foundation (SDCF). The LDCF is under the umbrella of 501(c) 3 status of the SDCF.
The LCDF's mission
To support area cultural, charitable, recreational and educational organizations, as well as individuals living within the boundaries of the Lead-Deadwood school district, through donations, gifts and grants.
A $50,000 challenge was issued by First Interstate Bank in Oct., 2009. The community was challenged to raise $10,000 annually to receive $10,000 from FIB. Upon receipt of $100,000 ($50,000 local, $50,000 FIB) the SDCF would match an additional $25,000. The LDCF’s volunteer board of directors and great donor base successfully completed the challenge in 2014. The partnership with First Interstate Bank and the SDCF has led to an opportunity to create a sustainable asset supporting Lead-Deadwood nonprofit projects and programs. As the fund grows, so will the amount given back in annual grants to the community.
How the LDCF Works:
The Lead-Deadwood Community Foundation is a permanent endowment fund held with the South Dakota Community Foundation. These funds are invested with a small percentage (4.5%) made available each year for the board of directors to distribute if they see fit. The LDCF board of directors meets twice a year to consider applications from cultural, charitable, recreational and educational organizations as well as local individuals in the Lead-Deadwood school district. Organizations submitting grant applications must include matching funds (cash and in-kind).