Post-Garza County Endowment Established
Opportunity available to support local charities
Published Aug. 10, 2011 @ 1 p.m.
As this community has exhibited many times, we take care of our own. Generosity and concern for those in need has been shown in the financial support to individuals who experience illness or loss and in support of organizations that provide invaluable local services.
Earlier this year the Post-Garza County Endowment was established in partnership with Lubbock Area Foundation to provide yet another opportunity for you to help others now and for generations to come.
Anyone can make a donation to the Post-Garza County Endowment in any amount. Whatever the amount of your gift, it has a place in this local fund. A donation to the endowment can also be a way to honor or memorialize someone.
An endowment is a fund in which the principal is kept intact and only the interest income from that principal is used. The impact of gifts to this local endowment is multiplied by pooling contributions with other gifts and grants. In the future, grants from this endowment will help fund local charities who serve residents of Post and Garza County. This fund will, in a sense, fill the needs once handled by the local United Way.
The Post-Garza County Endowment is an affiliate of the Lubbock Area Foundation, who invests the money on behalf of the local organization. LAF also handles all legal requirements for the fund. This affiliation made the Post-Garza County Endowment eligible for a matching funds grant from the CH foundation. Our community raised over $50,000 in the past year making the local endowment eligible for a matching $50,000 grant. The total in the Post-Garza County Endowment now is approximately $110,000. This past year, Lubbock Area Foundations funds had a return of 12.41%. At this rate in 10 to 15 years, the local endowment has the potential to reach one million dollars. This balance would earn close to $100,000 per year for our local charities. Even in an average market at 6%, the local endowment could net the community between $40,000 and $50,000 per year.
According to information provided by the Post-Garza County Endowment, “the creation of the endowment gives the people of Post and Garza County the opportunity to build a pool of permanent resources exclusively for the benefit of their community.” The endowment is overseen by an Advisory Board of local residents who ensure gifts to the endowment are administered efficiently. Board members are: Thressa Harp, Curtis Hudman, Patty Kirkpatrick, Janie Lopez, Debbie Macy, Harry Record and Diann Windham. County Judge Lee Norman serves in an advisory capacity.
If you want to donate to the Post-Garza County Endowment, or would like additional information, call 806-762-8061, visit the Post-Garza County Endowment site or write the endowment at P. O. Box 5, Post, TX 79356.