Message SentDecember 7, 2021 // Nonprofit Savings Accounts
“The newly established endowment will play a key role in providing financial support to the YMCA as we continue to serve our community each and every day.”Mike Quast, Chief Executive Officer, Aberdeen Family YMCA
The Board and lead staff at the Aberdeen Family YMCA believe that a well-managed endowment sends a message to their community of planned long-term stability, fiscal responsibility, and financial viability into the future. The Aberdeen Family YMCA 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.
“We are proud to partner with the Aberdeen Family YMCA to create a source of permanent funding for them through our Nonprofit Savings Account challenge grants”, said Ginger Niemann, Senior Program Officer, SDCF. “We congratulate everyone who was involved in helping them meet the challenge.”
Donations to this existing Aberdeen Family YMCA 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 their YMCA. As the fund grows, so will the amount available to give back to this nonprofit. If you would like to donate to the Aberdeen Family YMCA fund, please visit https://www.sdcommunityfoundation.org/giving/support-an-existing-fund
About this Nonprofit
The Aberdeen Family YMCA’s mission is to put Christian principles into practice through programs that build a healthy spirit, mind, and body for all. YMCA programming, youth sports, swim lessons and all other Y activities are rooted in the mission of the YMCA. Visit http://www.aberdeenymca.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.