North Dakota Community Foundation Endowment Surpasses $50 Million
By Jerry W. Kram
The North Dakota Community Foundation has announced that it surpassed $50 million in endowed assets in 2013. The organization was founded in 1976 to improve the lives of North Dakota citizens and communities through charitable giving and promoting philanthropy.
"This is a significant milestone because there is great power in permanent endowment." said Kevin Dvorak, President and CEO of the North Dakota Community Foundation. "These endowed assets generate charitable cash flow that is used to improve the quality of life for North Dakota’s citizens, not just for today, but forever."
The NDCF currently manages over 500 component endowment funds, including 56 community foundations and over 100 scholarship funds for North Dakota students. It has given out over $55 million in grants since its inception.
One of the community endowment funds that the NDCF manages is the Parshall Area Community Foundation, which was established in 2011 and has total assets of almost $140,000. Last year, the community foundation gave grants to several local organizations including the Parshall Centennial Board for printing programs, Parshall 2000 for roof repairs on the Rock View Plaza, and the Parshall Park Board.
"I don’t know if would would have been able to start the foundation without the help of the NDCF," said Kristin Jaeger, who sits on the Parshall Foundation’s advisory board. "We certainly wouldn’t have been able to set it up as quickly. There aren’t a lot of people around here who know how to set up a foundation."