2024 ENDOWMENT CHALLENGE GRANT

Endowment Challenge Grants are matching grants supporting nonprofit organizations in building endowments in Linn County, Iowa. The matching endowment fund is opened and held at the Greater Cedar Rapids Community Foundation. Nonprofit endowment funds invest in the mission and the future of the organization by providing general operating support, stability during cyclical income variances, and income for areas of high importance to the organization. ORGANIZATION ELIGIBILITY Nonprofit organizations that are at least seven years old (based on the date of the IRS letter of determination) and hold 501(c)(3) status may apply if they meet two or more of the following criteria: The organization is based in Linn County, Iowa The organization serves residents of Linn County, Iowa An awarded Endowment Challenge Grant will only serve residents of Linn County, Iowa The organization currently holds one or more nonprofit endowed funds at the Community Foundation. The fund(s) must have been opened AND have a balance at or above the $10,000 fund minimum at least one year prior to the date of application. Note: Organizations that previously received an Endowment Challenge Grant are eligible to re-apply if five years or more have elapsed since the preceding matching grant was fully paid and/or the grant award period ended. However, first-time Endowment Challenge Grant applications are prioritized over re-applications. INELIGIBLE ORGANIZATIONS Organizations that do not meet two or more of the above criteria Organizations with a core religious mission REQUEST AMOUNT $25,000 and five years to meet the match ORGNIZATION SIZE AND MATCH LIMITS The Community Foundation assumes that large organizations will have more donors and has therefore placed a cap on the Community Foundation match per donor based on size of organization. There is no minimum size of contribution; every gift will be fully matched by the Community Foundation up to the maximum amount per donor. The Community Foundation will not award matching funds for contributions that were received prior to the notification of the grant award. Operating Budget Maximum Match Per Donor $0-$750K $5,000 (donor gift $15,000) $750K-$2M $2,500 (donor gift $7,500) $2M+ $1,000 (donor gift $3,000)