Evanston Community Foundation seeks grant applicants

• Reprints

Updated: February 20, 2012 9:00AM

The Evanston Community Foundation invites Evanston nonprofit organizations to apply for an endowment-building challenge grant in celebration of the foundation’s 25th anniversary this year.

ENDOW NOW (Evanston Non-profits Develop Organizational Wealth Now) will award $5,000 matching grants to the first five Evanston nonprofits that qualify.

“As a direct result of the foundation’s success in growing its endowment funds over the past decade, we can provide this opportunity for local nonprofits to launch their own endowment-building efforts,” said Sara Schastok, Evanston Community Foundation’s president and chief executive officer, in a news release. “Endowments build long-term sustainability, providing a growing stream of revenue that will always be there when times are tough.

“We think there is no better expression of our mission than to encourage the formation of permanent funds to enhance the future of five organizations whose ongoing vitality is so important to Evanston.”

Eligible for the endowment-building challenge are Evanston-based nonprofits with a track record of organizational stability and sustainability that do not already have endowments at the Evanston Community Foundation.

Prospective grantees must show evidence of an endowment building plan to meet or exceed a required $15,000 opening fund balance, and submit plans to continue development of the fund as an integral part of their organizational stability.

Evanston Community Foundation Chief Financial Officer Jan Fischer invited nonprofits large and small to use the foundation as a resource.

“Establishing a fund here allows nonprofits to participate in the foundation’s $15 million investment pool, providing them access to diversified investment vehicles and strategies typically beyond the reach of smaller investors. We encourage ENDOW

NOW prospects to talk with us about their readiness to launch an endowment building program.”

Applications will be accepted now through Sept. 28, 2012, or until all funds have been committed.

Proposals will be reviewed and grants awarded on a first-come basis. For grant guidelines and application materials visit www.evanstonforever.org.