Presentation on theme: "Endow or Not to Endow How can we afford to save for the future when there are so many needs today?"— Presentation transcript:
Endow or Not to Endow How can we afford to save for the future when there are so many needs today?
Why does IC exist? Since 1957, working poor Irving residents have been offered a temporary hand-up to maintain basic needs and referrals to long- term programs as appropriate. Ensuring that the most basic of human needs are met is an important measure of a community’s quality of life.
What do we do? Offer a lifeline to Irving residents in need; Provide a hand-up not a handout during a temporary crisis; Provide nutritiously balanced grocery orders to hungry families; Prevent homelessness for residents who have experienced a change in financial status, but who will be stabilized with one month of housing assistance;
What else do we do? Maintain utilities for residents struggling with higher than usual bills; Offer hope, a listening ear, encouragement and sometimes, tough love; Provide basic money management training/awareness and encourage saving; Offer employment referrals and continuing education/certification stipends for qualifying residents; Provide volunteer opportunities for residents to engage in community solutions and give back in a way that is meaningful.
At FYE 2004 Agency budget was $580,097 Food pantry fed an average 246 families a month Helped 19 households a month with approximately $350 in rent Volunteers worked an average of 600 hours monthly.
Then…and Now… When was the best time to plant a tree? 20 years ago. When is the best time to plant a tree? Now! “It takes a noble man to plant a seed for the tree that will some day give shade to people he may never meet.” (David Trueblood)
Today, 2014… The food pantry is feeding an average 844 families a month An average 28 households receive approximately $500 rent each month Agency budget FYE14 anticipates spending $1,572,131 Volunteers currently work an average 1,565 hours a month
What do you think? Is it important to secure the organization’s long-term viability? While we would like to be able to go out of business because the problems are solved, each year we seem to get further from that goal.
Walk our Talk We consistently tell clients: Plan for the future, have savings, create a rainy day fund Yet, We operate on an annual cycle of fundraising
What if Irving Cares had a long-term sustainability plan? Endowment (corpus/ principle) is a permanently invested fund which provides interest that can be spent as determined by the Board of Directors. It establishes a permanent stream of income that will ensure agency programs are here in the future and can endure tough economic times.
The endowment is not the gift! The endowment is what is done with the gift, it’s about the long-term sustainable IMPACT on the community. It requires several years to grow. It is a multi-year campaign in addition to what we currently raise, and is in no way intended to replace annual funds