Community Foundation of Tampa Bay:
“Endowment” - Should Your Nonprofit Have One?
Covid-19 has not only devastated
families and businesses, it has
also wreaked havoc in the nonprofit
world. Organizations
whose financial stability is based
on annually held events have lost
what has traditionally been their
lifeline. Fundraising Events have
been cancelled, rescheduled, and
cancelled as the pandemic continues
to change the rules of everything
that includes group participation.
Ask any non-profit that has an
already established “Endowment”
if that has made a difference during
this time of crisis and their answer
would be a resounding “Yes!”
In general an endowment is “a
donation of money or property to a
non-profit organization, which uses
the resulting investment income for
a specific purpose….” The majority
of endowment’s principle amount
stays intact and only the investment
income is used toward the charities’
mission efforts. There are multiple
types of endowment funds which
include: Agency Designated, Donor
Advised, and Field of Interest.
As of November 30, 2020, the
Community Foundation of Tampa
4 | SouthShore 2021 COMMUNITY RESOURCE GUIDE
Bay (CFTB) had contributions of
over $2 million to create new funds.
The CFTB offers another tool toward
financial stability non-profits should
consider as well, “Reserve Fund”
accounts. These typically yield
higher interest rates than CD’s or
standard money markets or savings
accounts with fewer restrictions and
easier access for liquidity.
If these options have peaked your
interest contact the CFTB for more
information. Staff is available to
answer your questions or schedule
a presentation to your Board of
Directors.
The CFTB………..making the
Impossible Possible and the Possible
Extraordinary!
Website: CFTampabay.org
Phone: 813-282-1975
Email: info@cftampabay.org
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