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News From 91.3 KUWS
Apostles/Chequamegon funds seek $$ independence with Bremer grant
Two Bay Area Community funds have a plan to do something different this year with a new donation. And a big one at that: to become completely self-sufficient. Jessica Hamilton reports.
The Otto Bremer Foundation donated $322,000 to the Apostle Islands Community Fund and the Chequamegon Bay Area Community Fund for the next two years. Bremer Program Officer Dominic Papatola says there are two big feats they hope this will accomplish.
“It’s kind of complicated; it’s got a lot of different pieces to it. But basically what we’re doing is we’re trying to partner with the community to make these community funds stronger, and then we’re also trying to help these community funds become self sufficient.”
Apostle Islands and Chequamegon Bay Area Community Funds Officer Madelaine Herder says the way it’s set up now, this donation will help cover around $160,000 in operating costs in the next two years and leave the rest to raise more money including three matching endowments.
(“The program services endowment is the one that will fund the sustainable operations of Chequamegon Bay in the future. The non-programs services endowment, that’s for our grant making for the future. And then there’s another one that’s $25,000 and that’s for their program services endowment.”)
Papatola says money that is raised in those communities will be matched dollar for dollar up to the $25 thousand. He hopes interest earned in these funds will cover annual awards. So, they’ll be self-sufficient.
“It’s going to help build the endowment of these two community funds so that they can raise a big chunk of money. And then you take the interest of that money and give that out but the principle is still there so that continues and grows into perpetuity.”
Herder says the need for area funds like these two is huge.
“You know these smaller communities, it’s difficult to get an community foundations going but it’s where it’s needed the most. You’re able to have a smaller group of people work the communities, we all know the communities and so we’re all able to give to the greater good.”
They still have a lot of money to raise to meet the Otto Bremer matches. Herder says in past years they used community events like the Turkey Trot on Thanksgiving to raise money but the plan this year is though community members and area businesses.
These two funds cover Ashland, Washburn, Bayfield, Red Cliff and LaPointe.
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