Citizens' Center
April 2006
Telephone (931) 762-9259 Meal Site (931) 762-1578
E-Mail address: [email protected] Website: www.geocities.com/seniors38464
Corinne Perry, Director James Smith, Chairman
Greetings from the Director and Staff:
"There is a long and magnificent tradition of private funding for many institutions in the United States. Most of our museums, symphonies, hospitals, and religious organizations have endowments. No self-respecting college or university would be without one.
�It could well be that these endowments are THE critical factor in the United States� preeminence in the areas of art, music, religious freedom, healthcare and education. Why? Because these endowments mean that many interests and ideas are nourished that would never flourish if they relied solely on the vagaries of annual (or governmental) funding.
�Yet, �endowment� has to be one of the most misunderstood words in the English language. Few of even the most charitable donors or most well-established non-profits understand its simple genius�and the fact that endowments are a necessity, not a luxury.
�What an endowment represents is a source of ongoing funding for a charitable organization or a charitable cause. For every dollar given, the beneficiary receives a nickel�each and every year thereafter. Forever.
�When the markets are highly volatile and too many of our neighbors are looking for jobs, there is always greater need for the services of non-profits and often fewer charitable dollars available. Endowments help ensure that there are always funds available to support a cause or organization, to smooth out the cyclicality of contributions.
�Such ongoing, reliable support provides critical underpinning for those in need, the organizations which serve them, and the community as a whole. Putting money aside in the good years ensures that there is money to �do good� in less robust economic times.�
The article goes on to explain the role of the Community Foundation in managing funds for various purposes.
Note the last phrase in the second paragraph -- ��if they relied solely on the vagaries of annual (or governmental) funding�. That is, in a nutshell, the reason for beginning the Senior Center Endowment Fund in 1999. The Center was too dependant on governmental funding, and that funding was uncertain, inadequate to get the job done, and too heavy on record keeping and reporting requirements. That is the reason we must persevere in building the principal to a level that will keep the Center going in the future. Your gift to the Fund, whatever the amount, will be a perpetual source of income for operating expenses of the Senior Center. Thank You to everyone who has contributed to the Fund and those who will do so in the future.
