Since 1991, the Community Foundation of Boone County (CFBC) has played a vital role in strengthening the local community by awarding over $31.3 million in grants and scholarships, thanks to the generous support of individuals and businesses. But what makes the CFBC truly special is its ability to create lasting, meaningful impact – something that might not always be clear to those unfamiliar with its work.
At the heart of the CFBC’s mission is its commitment to long-term, sustainable support. “We’re here to steward our funds for lasting impact,” says CEO Julie Reagan. “Unlike short-term donations, our endowments ensure that every dollar continues to grow, helping our community for generations to come.”
This is where the CFBC’s unique model stands out. When someone makes a donation, it doesn’t just provide immediate support; it grows over time. Through the foundation’s endowment system, donations are pooled and professionally managed to create permanent funds that provide ongoing support. For example, if someone is passionate about lifelong learning, health and wellness, or community connectivity, they can direct their gift to a specific organization, initiative, or a broader fund supporting those causes. Their donation will continue generating support for their specific area of impact for years to come, long after the initial gift is made.
“An endowment is a donation that we invest in our professionally managed fund pool, which currently totals nearly $37 million,” explains Reagan. “Each year we distribute a percentage of the fund’s balance while ensuring its continued growth. For the past several years our annual payout rate has been 4%, and it will remain at 4% for 2025.”
Both short-term and long-term donations play a vital role in sustaining nonprofit organizations and improving our community for generations to come. At the CFBC, the mission is to help donors determine which giving approach best aligns with their philanthropic goals. Some donors seek to make an immediate impact, while others want to create a lasting legacy. For instance, a $50,000 donation to support local cancer patients can be used right away to meet urgent needs or invested in a permanent fund that will provide ongoing support for decades. No matter the giving path, every gift helps build a stronger, more resilient community.
But the CFBC’s strength goes beyond just financial stewardship; it’s also about the deep local connections that make it so effective.
“All of our team, board members, and volunteers live and/or work here,” says Reagan. “This is our home community and we understand its unique needs. We use this knowledge to guide our grant making, ensuring that funds are directed where they’re needed most.”
The CFBC partners with a wide range of local organizations including hospitals, schools, chambers of commerce, elected officials and nonprofits, which allows it to respond quickly to urgent needs. When a local crisis or opportunity arises, the CFBC is often the first place these organizations turn to for support.
“Being a trusted partner means we can help provide resources and funding when it’s most needed,” Reagan explains. “It’s this personal connection that makes CFBC so effective in addressing local challenges.”
Currently the CFBC’s Community Impact Fund, which addresses immediate community needs, is seeing a significant boost thanks to a $1.5 million matching fund grant as part of the eighth phase of Lilly Endowment Inc.’s initiative, Giving Funds for Tomorrow (GIFT VIII). The grant triples donations made to any current or new community impact fund, by matching $2 from the Endowment for every $1 donated. CFBC’s goal is to fundraise $825,000 by December 31, 2025.
“It’s an exciting time to contribute,” Reagan says. “Your gift is being tripled right now, and we’re very close to our goal, with only $250,000 left to raise this year.”
The demand for funding continues to grow. In 2024 the CFBC received more grant applications than funds available – a record number of requests.
“For our second grant cycle last year, we had 55 applications requesting $485,000, but we only had $220,000 to allocate,” Reagan explains. “While we were able to partner with other community organizations to meet some of these needs, it highlights the importance of donors stepping forward when they don’t know where to help.”
Looking ahead, the CFBC will offer two grant cycles in 2025: one for nonprofits launching new programs and another for organizations with no specific funding requirements. Additionally, the foundation will introduce new programs aimed at education, networking and community development.
“We’re excited to relaunch the Boone County Leadership program this year,” Reagan says. “Since 1992 we’ve graduated over 300 alumni. Now, after a brief pause it will run annually, helping individuals who are passionate about making a positive impact in Boone County.”
In addition to leadership programs, the CFBC is partnering with the IU Lilly Family School of Philanthropy to offer a discounted, four-part fundraising course. Upon completion, participants will receive a certificate in fundraising management, a valuable credential for professionals in the field.
Programs like Women of Impact will also continue to thrive, offering more opportunities to support nonprofits in Boone County.
“The beauty of a community foundation is its ability to maximize the power of giving,” Reagan says. “Our structure, based on endowments and strategic grant making, allows us to form deep relationships within the community, ensuring we can respond when needs arise.”
Through these initiatives and partnerships, CFBC is making a difference that goes beyond financial support. It’s about creating lasting change, building community connections, and ensuring that the needs of Boone County are met for generations to come.
Explore communityfoundationbc.org for more information.
