June 30, 2022
Morgantown, WV – Your Community Foundation of North Central West Virginia, Inc. (YCF) is pleased to announce a $300,000 donation by the Monongalia County Commission to the $1 Million Match Campaign.
On Wednesday, June 29, the Monongalia County Commission approved the donation of $300,000 to establish the Monongalia County IMPACT Fund, which will generate investment income to benefit Monongalia County residents for years to come. As part of YCF’s $1 Million Match Campaign, this donation is being matched dollar-for-dollar to the YCF IMPACT Fund, an unrestricted grantmaking fund benefiting YCF’s five-county region, which also includes Harrison, Marion, Preston, and Taylor Counties.
“We want to thank the Monongalia County Commission for their generous donation that will forever impact our communities,” said Martin Howe, YCF Board Chair. “While the creation of this fund will positively impact Monongalia County residents, this Commission should be commended for taking the opportunity to impact our neighbors and the North Central West Virginia region as a whole.”
Over $640,000 has been raised to-date in the Double Your Impact Challenge that was launched in the fall of 2021. The campaign will run until December 31, 2022, or until the $1 Million goal is met, and aims to help communities in the five-county area.
The challenge was sparked by the generous gift of an anonymous donor who believes in the mission of YCF and the power all people have to create positive change in their communities through charitable giving, YCF said in a statement.
“Here in Mon County, we are grateful to be able to make this contribution,” said Tom Bloom, Monongalia County Commission President. “We hope to be a role model for other county commissions to help with the $1 Million Match Campaign. The matching dollars will benefit our citizens and neighbors for years to come.”
Others interested in participating in the Double Your Impact Challenge may make gifts to two funds:
YCF IMPACT Fund
- Unrestricted endowment funds provide flexible grantmaking for the community’s greatest needs. Currently, the IMPACT Fund is only able to support 4% of the grant dollars requested through YCF’s Community Grant program.
- Donations of any amount (up to a total maximum of $900,000) to the YCF IMPACT Fund will be matched. Gifts of $10,000 and greater may create an endowed fund in honor or memory of loved ones. Pledges are accepted over a 5-year period.
- Grant awards are selected annually through a competitive grant application process via the YCF Grant Committee and approved by the YCF Board of Directors.
- The fund may also be used in times of community emergencies with no application process as approved by the YCF Board of Directors.
YCF Addiction Prevention Initiative Fund
- This new endowment is intended to support programs geared to lessen and alter the destructive impact of alcohol and drug addiction on children and their families through education and professional support at the grassroots level.
- Funding to support immediate needs and grant requests.
- Matching funds (up to a total maximum of $100,000) will be added to the permanent endowment.
- Applications will be accepted annually through YCF’s Community Grant application.
- Donations can be pledged over a 5-year period.
YCF is a tax-exempt public charity created by and for the people of North Central West Virginia to manage multi-generational endowments, YCF enables local people with philanthropic interests to easily and effectively support the issues they care about.
Donors can establish a charitable fund at YCF by contributing a variety of assets and may also recommend grants to nonprofit groups they want to support.
YCF accepts donations in the following ways: checks, tribute gifts in honor or memory of a loved one, online via PayPal, matching gifts, stocks or securities, IRA gifts, wills, and bequests.
YCF employs a full-time professional staff of investment managers and support staff overseen by a management committee of local investment experts. YCF maintains transparent public reporting, undergoes an annual CPA audit, and maintains a term-limited, revolving board of current community leaders.
The community foundation structure is one of the fastest growing philanthropic sectors in the United States, with nearly 800 established across the country, all aiming to improve the quality of life for communities they serve.
For more information please call (304) 296-3433 or visit YCF’s website, www.ycfwv.org.