1. When was the Shickley Community Foundation organized and how is it operated?
The Shickley Community Foundation was organized in 1991. The Foundation is operated by 12 volunteers who serve as its Board of Directors.
2. What are the Foundation assets?
As of December 31, the Foundation assets were over $480,000.00
3. How are the Foundation's finances organized?
The Foundation currently maintains accounts for the Virgil Biegert Public Library, Shickley Improvement Committee, Fire Dept., three scholarships, Shickley Cemetery Assn., two religious accounts, & a general endowment fund. Only the income generated from the Endowment fund base is used for community betterment projects. All Endowment fund contributions are perpetual and are held in whole.
4. How many Endowment Fund grants has the Foundation awarded so far?
Since 1991, Endowment Fund grants have totaled over $42,000.00. Some of the projects have included the Shickley welcome sign, the batting cage & ball shack, equipment for the fire department & library, Shickley history books, historical marker on Hwy. 74, Fillmore County Hospital addition, plastic fence for Westside Park, playground equipment, school field trips, facility improvements for the Shickley school, and village web page maintenance expenses.
5. What is the main priority of the Board of Directors?
Increasing the size of the Endowment Fund is priority one for the Board of Directors as the Endowment Fund had a balance of only $21,000.00 as of 12-31-01. As of December 31, 2005, the Endowment Fund had a balance of over $303,000.00.
6. What was the Wilkins' Family Challenge?
The Directors accepted the challenge proposed by the Wilkins Family (Hugh, William, Robert, Beth, and Hugh C.) where as the Geneva State Company would match all contributions & pledges to the Endowment Fund from years 2001 to 2003 not to exceed $105,000.00 or $35,000.00 per year.
7. How much was raised as a result of the Wilkins Challenge?
As of December 31, 2003, nearly $162,000.00 was raised from 101 households and organizations. The Endowment fund balance was in excess of $280,000.00 after adding the $105,000.00 match and the original base amount.
8. How much will be able to be awarded yearly due to the Wilkins Challenge?
Given a $303,000.00 balance, over $15,000.00 in annual grants will be made for community improvement projects.
9. What is the next goal that the Board of Directors has set?
Our short-term goal has been met. Our long-term goal is to have an Endowment Fund totaling $1,000,000.00 by December 31, 2011. We are set-up to accept life insurance proceeds, annuities, stocks, mutual funds, and real estate for estate planning purposes.
10. Have the Directors contributed to the Endowment Fund?
All of the Directors have made a financial commitment to this cause. Any size of donation is acceptable. A primary goal of this project is to have as many participants as possible since the entire community will be benefiting from future grants that are awarded. Keep the Shickley Community Foundation in mind with your future planning.
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Last updated on August 6, 2006