Nonprofit Savings Accounts….Creating Up To $400,000 in Endowment Funds
Four South Dakota organizations have been selected to be a part of the South Dakota Community Foundation (SDCF) Nonprofit Savings Account program. The four organizations chosen from a competitive selection process include: Area IV Senior Nutrition in Aberdeen, Performing Arts Center of Rapid City, River Cities Public Transit, Pierre and Western Dakota Tech Foundation, Rapid City.
“The South Dakota Community Foundation is committed to strengthening nonprofits in our state through the power of endowment”, said Stephanie Judson, President, South Dakota Community Foundation. “The Nonprofit Savings Account program allows the SDCF to bolster fundraising efforts that build endowment funds helping nonprofits thrive today and well into the future.”
The Nonprofit Savings Account program aims to be a catalyst for nonprofit, long-term sustainability through the establishment of endowment funds. Each organization will receive a $20,000 challenge grant from the SDCF after raising $80,000 from supporters in a two-year period. The combined funds will establish a $100,000 endowment fund at the SDCF. Funds will be invested overtime and earnings will create a long-term revenue source to support each organization.
The fundraising period for each organization will span from October 1, 2019 until September 30, 2021. To help any of these organizations reach its goal with a donation, please visit SDCommunityFoundation.org/NSA. The Nonprofit Savings Account program was created in 2015. Nonprofits can find out more about applying to the program at the above link.
About the Recipients
Area IV Senior Nutrition is a nonprofit service organization serving senior meals to those 60 years or older. This organization, located in Aberdeen, serves 32 communities within 13 counties in northcentral and northeastern South Dakota. They provide approximately 1,000 hot, nutritious meals per day in their region. A donation is suggested; but no senior will be turned away. Many of the communities that they serve offer delivery as well.
A nonprofit committed to providing a home for the performing arts and broadening its impact in the Rapid City Area, the Performing Arts Center of Rapid City (The Center) was twenty years in the planning and is housed inside Rapid City High School. The Center operates in collaboration with four founding coalition members including the Black Hills Community Theater, the Black Hills Symphony Orchestra, the Rapid City Children’s Chorus and the Shrine of Democracy Chorus. Working together, The Center and its four founding partners created a cultural destination for the region.
From the very beginning, River Cities Public Transit, located in Pierre, has been committed to providing safe, reliable and courteous public transportation to the members of the communities they serve by promoting quality of life, livability, self-sufficiency and freedom through mobility. Today, transportation rides to seniors, students, veterans, people with disabilities and the general public in an 11-county area in central South Dakota is provided by River Cities Public Transit.
The Western Dakota Tech Foundation believes that better lives and a stronger economy are created through education. The Foundation strives to support Western Dakota Tech’s mission by building a community that makes positive contributions to the college. These contributions help create scholarships, develop programs, build infrastructure, and create a campus community in Rapid City where students, faculty and staff find success.
About our donors
The SDCF distributed more than $18.8 million in grants in 2018 which made a tremendous difference in communities statewide. This would not have been possible without the generosity of our donors. If you have a specific cause you would like to support or would prefer to give for the general good of our state, please visit https://sdcommunityfoundation.org/for-donors/ to learn more or give us a call at (605) 224-1025.