Carroll H. Starr Endowment Challenge
What is the Carroll H. Starr Endowment Challenge?
A unique opportunity for nonprofits in Boone, Ogle, Stephenson, and Winnebago counties to build a permanent endowment at the Community Foundation and receive $1 for every $3 raised.
Challenge Grant Background
The first Carroll H. Starr Endowment Challenge was offered by the Community Foundation of Northern Illinois in 2001. Through the Challenge, the Community Foundation matches $1 for every $3 raised by selected non-profits up to $50,000 to build an endowment. Once established, the permanent fund will provide the agency with a stable source of discretionary income that will last forever.
Key benefits of building an endowment with the Community Foundation of Northern Illinois include:
- A perpetual source of income
- Funding that can be spent in any way you chose to benefit your organization, such as salaries, operating expenses, and other hard-to-fund items
- Proven investment performance; Funds are commingled to achieve broader diversification while minimizing risk
Past and Current Participants
2001 – Freeport Art Museum*, Illinois Growth Enterprises*, and The MILL*
2006 – Connecting the Future* (Burpee Museum and Discovery Center), Freeport Art Museum*, Klehm Arboretum and Botanic Garden*, and Swedish Historical Society*
2009 – Natural Land Institute*
2010 – RAMP and Rockford Christian Schools (to be completed in 2013)
2011 – Cosmopolitan Club of Rockford, Mendelssohn Performing Arts Center*, and
Swedish Historical Society (to be completed in 2014)
*indicates successful completion of the Carroll H. Starr Endowment Challenge.
Who was Carroll H. Starr?
- Founder of the Rockford Community Trust – today known as the Community Foundation of Northern Illinois.
- A prominent businessman who was partial owner of the first Ford Motor Car dealership in Rockford, a banker, and manager of a local investment firm
- Chairman of the City Planning Commission
- A leading advocate for families, with thirty years of service on the Family Welfare Service Board
- Head of the United War Fund during WWII, raising more than $1,000,000 in annual funds
- One of only nine founding members of the National Committee on Community Foundations
Mr. Starr guided the Trust during its formative years with an abiding conviction in its future growth and benefit to Rockford. He served the Trust faithfully until his death on November 10, 1963.
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Carroll Starr – A Unique Grant Making Initiative »
What is an Endowment at the Community Foundation? »
Benefits of an Agency Endowment at the Community Foundation »