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.