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[McCook Daily Gazette]
McCook, Nebraska ~ Thursday, November 20, 2008
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Stratton meets challenge grant deadline to create endowment fund

Friday, July 11, 2008

STRATTON -- The Stratton community came through in a big way for the Stratton Community Foundation, meeting the June 30 deadline set by the Robert and Jeanette Hunt Community Fund.

Raising $75,000 in a short amount of time, the Stratton Community Foundation met the challenge grant goal requirements and earned a $25,000 grant from the RJHCF.

According to a story in the Hitchcock County News, foundation members celebrated the evening of June 30, by popping the cork on a bottle of champagne.

"We are so excited to have some funds to help our community in its efforts to attract new business, assist in educating existing business, offer scholarships and assist in a host of community improvement projects - not just for today, but well into the future," Peggy McDonald, vice president of the Stratton Community Foundation board, said. "Our community has always been so generous in giving for specific projects, with an endowment, we'll have funds to assist in many projects for many years. The strength and committment of Stratton to Stratton has proven itself through this endeavor, once again proving that Stratton really is a good place to grow!"

Larry Forch Jr., president of the Stratton Community Foundation board concurred, saying, "I am overwhelmed by the spirit of the people in the Stratton community. Their support and generosity in helping us develop our community endowment fund has been nothing short of extraordinary.

"The new endowment fund will help give Stratton the ability to take control of its future and provide funding for community development and enhancement projects in a way that's never been done before on a local level.

"It's exciting to think that the more we put into this, the more we'll get out of it. Keeping our community a viable place to live and work is our top priority, and helping Stratton sustain itself through the community foundation and the endowment fund is an excellent way to make those things happen for decades to come," Forch said.

The $100,000 will go into an endowment fund administered by the Nebraska Community Foundation. Investment earnings will be made available to the Stratton Community Foundation which will develop a specific application process for the funds for community betterment projects and charities. An endowment fund is similar to a savings account, however, only the investment earnings can be expended, leaving the principal in place, earning funds on a continual basis.

The RJHCF challenge comes in two parts, with that foundation awarding an additional $5,000 for every $15,000 raised from donors over the next two years, for a total of an additional $25,000 in grant funds. The Stratton Community Foundation already has $22,000 in pledges toward the second half of the RJHCF grant.

A special dinner to recognize the donors is planned in August. The RJHCF will present the foundation with the $25,000 check at that celebration and members of the Nebraska Community Foundation will also be present.



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