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Questions and Answers

What is the Windham Endowment for Community Advancement?
The Endowment is a non-profit community foundation. It was established in January 2005 as a tax-exempt Section 501(c)(3) organization, to which donations are tax deductible.

What is a Community Foundation?
Community Foundations are one of the fastest growing sectors of philanthropy today. They build and strengthen communities by making it possible for a wide range of donors to create permanent, charitable endowments to meet local needs. Currently there are over 700 community foundations in the United States, with nearly $40 billion in assets.

What is the purpose of the Endowment?
The Endowment will enhance the quality of life for all Windham residents, now and for generations to come, by supporting educational, cultural, recreational and environmental initiatives in the town.

How will the Endowment be funded?
The Endowment can accept tax-deductible gifts from residents and other individuals. It can also solicit and accept funds from public and private foundations as well as corporations, thus extending its reach beyond the boundaries of Windham.

How will the Endowment distinguish the funds?
Donors who would like to direct how they want their donation used will have a designated fund for that purpose. Donors funds that do not have a specific cause associated with them will be held in an unrestricted fund that the Board of Directors oversees and determines how grants will be distributed to support charitable needs within our community.

How will the Endowment's assets be managed?
The Endowment will engage a professional investment consultant to advise the Board of Directors. The Board will adopt and maintain a formal Investment Policy in accordance with the by-laws and consistent with industry-recognized performance benchmarks for investing charitable assets.

What is the relationship between the Endowment and the new high school?
Although the Windham Endowment was formed to serve many initiatives within the community, the Board of Directors has chosen enhancement of the new Windham High School as the focus of its first Capital Campaign.

How will the Endowment support other community initiatives?
The Board of Directors will continuously seek sources of private and public funding both inside and outside the town to grow the Endowment's unrestricted fund. In addition, we will support community needs through grants and future capital campaigns.