Lutheran Medical Center Community Foundation Awards $82,000 Challenge Grant to KBDI-Channel 12
Release Date: 06/23/06
Author: Dutch Hodges
The Lutheran Medical Center (LMC) Community Foundation has begun its second Endowment Challenge Grant Program through its Nonprofit Preservation mission. The endowment challenge is designed to help nonprofit organizations preserve their future through endowment building. Endowments are investment pools that permanently hold funds for the purpose of an organization's future stability. KBDI-Channel 12 will have access to the interest earned from their endowment and as the endowment grows, the revenue stream from the interest earned also grows. This opportunity also provides a funding source and can help to reduce an organization's dependency on annual fund-raising.
LMC Community Foundation has committed $1.35 million this year in endowment challenge grants to 10 non-profit organizations, including KBDI, Channel 12. The missions of these organizations range from protecting the environment to providing access to quality care for mental health patients, to KBDI’s mission of providing non-commercial, educational television programming. KBDI-Channel 12 has been awarded $82,000, which will be matched by individuals from the community.
LMC Community Foundation will then match fifty cents for every dollar contributed to a permanent endowment established by the Foundation. The Foundation also guarantees 5% interest and will not charge administrative fees during the challenge period (April 1, 2006 - March 31, 2008).
"We view this program to be a partnership between the Foundation and the nonprofit sector,” said Kenneth W. Eggeman, Ph.D., President and CEO of LMC Community Foundation. "Our board wanted to do something that would make a positive and lasting impact on the community. This program gives us the opportunity to invest in the future of the nonprofit sector by helping nonprofit organizations focus on securing their financial future," he added.
The LMC Community Foundation is committed to strengthening the community by providing Leadership grant funding and promoting philanthropy. The LMC Community Foundation has been serving the Denver metropolitan area since 1975. For more information, visit the LMC Community Foundation online.
KDBI-Channel 12, a unique civil resource throughout the Front Range, offers nine, live public affairs shows per week, and the 2006 “Colorado Decides Election Series,” in addition to the best of PBS programming. KBDI is currently accepting matching gifts from the community to meet the challenge.
Interested donors may contact Dutch Hodges by email or by phone at (303) 296-1212.