The Hendricks County Community Foundation (HCCF) has received a grant of $1.1 million as part of Lilly Endowment Inc.'s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. With GIFT VII, the Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities and counties they serve.
HCCF will use this matching fund grant to build their financial assets and support charitable activities. The matching fund grant is designated to support the growth of HCCF's unrestricted endowments, which over time will provide flexibility to help the foundation to meet community needs. The Endowment will provide $2 for every $1 contributed to HCCF's unrestricted endowments during the matching period, October 1, 2018, through December 31, 2020.
"This phenomenal opportunity is available to us through the generosity of Lilly Endowment," said William Rhodehamel, HCCF President and CEO. "This grant demonstrates their commitment to help us grow our unrestricted assets and help our generous donors make Hendricks County a better place, today and tomorrow. Our unrestricted grants fund the greatest needs and opportunities in our community and give the Community Foundation flexibility to move forward boldly. We're very thankful for Lilly Endowment and our generous donors."
The Hendricks County Community Foundation partners with generous people to realize their charitable goals while addressing community needs in meaningful and lasting ways. The Community Foundation manages assets of over $14 million in a collection of funds created by individuals, families, businesses and organizations for charitable purposes. In 2018, the Community Foundation gave over $540,000 in grants to charitable organizations and scholarships to local students.
The GIFT initiative is part of Lilly Endowment's grant making to strengthen Indiana communities and has been a priority of the Endowment since the first phase of GIFT in 1990. The initiative's primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize and address local opportunities and challenges.
To encourage the engagement of HCCF's Board of Directors, the Endowment also will award an additional $100,000 unrestricted grant if the foundation achieves 100 percent financial support from our board members during the period January 1, 2019, through June 30, 2020. Starting in 2019, HCCF will have the opportunity to apply for more funds through GIFT VII's community leadership grants. This component includes both planning and implementation grants, which are available to help the foundation deepen its understanding of the challenges and opportunities facing its community; convene key local stakeholders and explore how it can effectively play a leadership role in implementing initiatives and strategies that enhance the quality of life in Hendricks County.
Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1937 by three members of the Lilly family - J.K. Lilly Sr. and sons J.K. Jr. and Eli - through gifts of stock in their pharmaceutical business, Eli Lilly & Company. The Endowment exists to support causes of community development, education and religion. Lilly Endowment's community development grant making is designed to support efforts that enhance the quality of life in Indianapolis and Indiana.