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Why does CFNIL do this?

Endowed Resources Keep on Giving!

Barber-Colman’s Gift to the Community: Generosity + Trust = a Legacy

In 1987…
Appreciated Stock was gifted and the Barber-Colman Foundation was transferred to the Community Foundation of Northern Illinois to ensure that charitable resources were available to the greater Rockford area — in perpetuity. The gift’s total value was $3,261,970!

It was restricted by the Howard D. Colman family and management of Barber-Colman in the following ways:

  • $1 million endowment was established for Rockford College for scholarships. Its income is paid annually to Rockford College.
  • $1 million endowment was established for the United Way of Rock River Valley. Its income is paid annually to United Way of Rock River Valley.
  • $760,164 was designated for general community needs: grants are recommended by the current and ongoing Barber-Colman employees (The Barber-Colman Management Fund).
  • $501,806 was designated for general community needs: grants are recommended by the current and ongoing Barber-Colman employees (The Howard D. Colman Memorial Fund).

Endowed Resources Keep Giving:
Today, the original gift of $3,261,970 has generated charitable dollars of $4,297,889 while the principal value has almost doubled.

Investment Oversight:
Through the stewardship of the Community Foundation, the funds have grown significantly over the past years to provide a steady income stream to community projects, programs and institutions. The Community Foundation of Northern Illinois, as with community foundations all over the country, is an excellent vehicle to preserve critical charitable resources. Not only are dollars distributed to worthwhile causes, but they are growing! Add a first-rate investment track record to the fact that the Community Foundation is here forever, and you create a win-win situation for everyone — the donor, our charitable organizations, our Community.

Legacy:
Most importantly, the Howard D. Colman family and management of the Barber- Colman Company have created a legacy. Their generosity and gifts to the community will be here FOREVER.