Thanks to an anonymous donor, the Manistee County Community Foundation (MCCF) this year increased its unrestricted endowment by $1 million and is now aiming for $2 million.
The donor previously pledged a $500,000 match gift to the MCCF if the foundation raised $500,000 first. As this happened months before the deadline, the donor offered another $500,000 match gift with a new deadline of Dec. 31, 2016.
If met, the combined contributions will increase the foundation’s endowment by $2 million, annually generating approximately $80,000 in new funds over 25 years. The MCCF’s assets were $4 million before this campaign began.
“A gift of this size and magnitude to a community foundation is something we don’t see every day, particularly in rural Michigan regions like Manistee County,” Rob Collier, president and CEO of the Council of Michigan Foundations, said in a statement.