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 to build an endowment. Once established, the permanent fund will provide the agency with a stable source of 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