The Benton County Foundation Creates the Facilities Endowment Fund
Board members and Foundation supporters believe that an attractive, visible, and permanent headquarters will greatly benefit the Foundation.
To seed the vision of a permanent home, the board established the Benton County Foundation Facilities Endowment Fund in 2007 as a means of managing donations toward maintaining a foundation office. When fully funded, the earnings from the endowment fund will pay ongoing upkeep and maintenance expenses for the Foundation’s permanent headquarters.
The fund was established to manage $125,000 in donations contributed by Ray and Genny Stephenson and Pete and Linda Sekermestrovich. Ray and Pete are long-time Foundation board members, and Pete currently holds the office of board president. These donations put the Foundation well on its way toward reaching the board’s stated goal of $500,000 in the Facilities Endowment Fund.
Once fully funded, this endowment will enable the Foundation to support a permanent facility without using any part of the earnings from other funds for expenses. This is consistent with the Foundation’s policy of using as little as possible of our charitable funds earnings for administrative expenses. The board has made funding this endowment a priority.
