Author gives local. Area Non-Profit Gets Endowment Gift
The Homer Foundation is pleased to announce the creation of the Storyknife Writers Retreat Fund. The fund was started with a generous endowed gift from local author Dana Stabenow. She is also the Founder and president of Storyknife Writers Retreat. When asked why she chose the Homer Foundation to make this gift, Dana said, “When it came time to start an endowment fund for my nonprofit, Storyknife Writers Retreat, the Homer Foundation was the obvious choice — one local organization employing local people supporting another. It’s all about community for both of us.”
The new fund is an “agency endowment fund” meaning the gift will provide an income stream for the Storyknife Writers Retreat as long as it exists.
All funds held by the Homer Foundation are invested at Vanguard Investment Services and professionally invested and managed. This is the fifteenth agency endowment held at the Foundation. Last year $11,163 was distributed to area non-profits from these funds. Overall, the Foundation has 67 different funds. Besides the agency funds, there are also donor advised funds, field of interest funds, scholarship funds and the Homer Foundation Opportunity Fund, an unrestricted fund which allows the Foundation the flexibility to meet changing needs within the community. With earnings and donations, last year the Homer Foundation distributed $187,000 into the Homer area in grants and scholarships.
The Homer Foundation is a community foundation committed to connecting generosity to community need. Since 1991 the foundation has distributed over $3.2 Million in the southern Kenai Peninsula. For more information on the Homer Foundation please visit our website www.homerfoundation.org, like us on Facebook or call 907-235-0541.