Meeting the Challenge Square OnJuly 20, 2021 // Nonprofit Savings Accounts
“This is something we have wanted to create for awhile and with the help of the South Dakota Community Foundation we can begin looking at the long-term sustainability of Main Street Square and its operations.”Domico Rodriguez, President/CEO, Main Street Square
Who says you cannot raise money during a pandemic? Rapid City’s Main Street Square accepted a challenge to raise $80,000 for their organization from supporters over a two-year period. If successful, the organization would be rewarded for their efforts with an additional $20,000 challenge grant from the South Dakota Community Foundation (SDCF). The combined funds would result in the establishment of an endowment fund at the SDCF for this nonprofit. Funds will be invested overtime and earnings will create a long-term revenue source to support the organization. The organization has met this challenge in record time through well-orchestrated fundraising efforts and generous, supportive donors.
“This is something we have wanted to create for a while and with the help of the South Dakota Community Foundation we can begin looking at the long- term sustainability of Main Street Square and its operation”, said Domico Rodriguez, President/CEO, Main Street Square. “We are a long way from where we want to be; but this is a much needed start.”
“We are proud to partner with Main Street Square in downtown Rapid City to create a source of permanent funding for them”, said Beth Massa, SDCF Regional Director for Foundation Relations in Rapid City. “We congratulate everyone who was involved in helping them meet the challenge.”
Donations to this existing Main Street Square endowment fund are invested along with other SDCF endowed funds. A percentage of the fund’s value is made available annually for their organization to distribute to support the mission of Main Street Square. As the fund grows, so will the amount available to give back to this nonprofit. If you would like to donate to the Main Street Square fund, please visit https://www.sdcommunityfoundation.org/giving/support-an-existing-fund
About this Nonprofit
Main Street Square opened its grounds for community access on October 7, 2011. Its mission is to bring life and foster Downtown Rapid City through economic development while creating a vibrant gathering space that is rich in appeal, cultural heritage, arts and entertainment for everyone, regardless of age, sex, race or economic background. Visit https://mainstreetsquare.org/
The South Dakota Community Foundation’s Nonprofit Savings Account program was created in 2015. Applications are accepted throughout the year online. Nonprofits can find out more about this program and how to apply at https://www.sdcommunityfoundation.org/grants/nonprofit-savings-accounts
About the SDCF
SDCF is a public non-profit organization established in 1987. SDCF, with offices in Pierre, Rapid City, Sioux Falls and Aberdeen administers over 1050 funds benefiting hundreds of charitable organizations annually. The Foundation distributed nearly $18 million in grants in 2020 which made a tremendous difference in communities statewide. This would not have been possible without the generosity of our donors. If you have a specific cause you would like to support or would prefer to give for the general good of our state, please visit https://sdcommunityfoundation.org/giving to learn more or call 1-800-888-1842.