The LMC Community Foundation last week launched its Nonprofit Preservation Program to help sustain the life of Front Range nonprofit organizations.
The program offers an endowment and challenge grant to 40 applicants. For the next year, the foundation will match dollar for dollar any funds raised, and 50 cents to the dollar of any previous funding that will be used toward the endowment. The LMC foundation board approved $4.3 million for the endowment funds.
Jeanine Spellman is the director of communications for LMC Community Foundation.
“We were hearing from the nonprofit sector about the need, and there needs to be a different way than giving dollars in the traditional way,” she said. “We’re looking for a way to create long-term stability.”
She said the stability will come as the organizations obtain a steady stream of revenue from the interest on the endowment, as well as the matching of funds.
The program is in support of all nonprofit organizations, with no certain mission focused upon. Organizations that will benefit from the program span from the Butterfly Pavilion and Insect Center to the Colorado Cancer Research Program.
Spellman said the foundation wants to see organizations unite through the process. On July 14, the foundation hosted a reception at the Arvada Center for the Arts and Humanities for representatives from each organization.
“We want to create a community with this group of people,” said Spellman. “There is value in their learning with each other. We had our welcoming reception to generate enthusiasm.”
Spellman said the organizations appear ready to take on the challenge for the next year.
“Everybody was very energized,” she said. “They have a challenge ahead in the next 14 months, and they’re ready to take it on.”
For information about the foundation and the program, visit www.lmccf.org.