Purpose of the Durand Charm Endowment
The purpose of the Durand Charm Endowment, which is held at the Community Foundation of Northern Illinois, is to lessen the burden of government, combat community deterioration, and increase civic awareness through volunteer engagement in the community of Durand and the surrounding region, focusing on the following areas:
- Creating a positive image for the downtown by promoting Durand Center Street District as an exciting place to live, shop and invest.
- Creating a beautifully restored Durand by improving the appearance of Durand through creating accessible sidewalks, planting trees and flowers, and improving deteriorating buildings.
- Creating a community that has a thriving parks system and high-quality local facilities that allow various community organizations to offer a wide variety of athletic, educational and entertainment options for all age groups.
- Developing attractions, events and activities that bring people to Durand.
- Encouraging and promoting volunteerism in the students so they may continue the tradition moving forward. Collaborating where possible with nearby school districts or colleges/universities on community education courses and library services.
- Creating a thriving economy by encouraging entrepreneurs to establish a business in the community and collaborate with local government to develop economic tools and incentives to attract and develop business.
To learn more about the Community Foundation of Northern Illinois (CFNIL), read the FAQs below.
DOES CFNIL SUPPORT DURAND CHARM IN OTHER WAYS?
Yes! in Fall 2015, CFIL granted $15,815 to Durand Charm for its Saelens Music Park project, which installed all-weather musical instruments at Saelens Park. The instruments (a yellow imbarimba, an orange swirl, a blue yantzee, and rainbow-colored tuned drums) now reside in the park and are available for musically-interested kids of all ages.
HOW CAN I SUPPORT THE DURAND CHARM ENDOWMENT?
The Durand Charm Endowment is held at CFNIL. To make a donation to the Durand Charm Endowment, write a check to the Community Foundation of Northern Illinois, 946 N Second Street, Rockford, IL 61107 with Durand Charm Endowment on the memo line.
Questions? You can contact CFNIL by telephone at 815-962-2110 or visit its website: www.cfnil.org.
WHAT IS A COMMUNITY FOUNDATION?
A community foundation is a nonprofit grantmaker that serves a specific geographic area that typically administers permanently endowed funds. A community foundation is allowed by law to fulfill donor intent in perpetuity.
WHAT IS AN ENDOWMENT?
An endowment is a gift that is not meant to be spent immediately. A term endowment may be spent after a certain period of time or after certain conditions have been met. A permanent endowment is held in perpetuity and invested. Some or all its earnings may be spent,
WHAT IS THE COMMUNITY FOUNDATION OF NORTHERN ILLINOIS?
The Community Foundation of Northern Illinois (CFNIL) was founded in 1953. Headquartered in Rockford, IL CFNIL serves Boone, Ogle, Stephenson, and Winnebago Counties. It is a steward for 370 endowed funds totaling over $86 million in value. Each year, endowments at CFNIL generate over $3 million in grants, scholarships, and distributions to nonprofit organizations for the benefit of the people of Northern Illinois.
HOW DO DONORS ESTABLISH ENDOWED FUNDS AT CFNIL?
There is no cost to a donor to establish an endowment at CFNIL. CFNIL staff meet with donors to learn about their charitable intentions and talk about whether an endowment at CFNIL fits their needs. If the answer is yes, a formal agreement is executed between donor and CFNIL, spelling out the donor’s charitable intent and the rules governing the administration of the endowment. The endowment is created when the donor makes their first contribution to it.
WHY DO DONORS CREATE ENDOWMENTS?
The motivations of individual donors vary. Donors may create designated endowments for the benefit of particular nonprofits or for a charitable purpose. They may create a scholarship endowment for students attending a particular school, studying a particular subject, or demonstrating certain character, ability, or need. Donors may create a donor-advised endowment to take advantage of an immediate tax benefit or to retain the ability to advise grants from their endowment in the future.
Donors appreciate the concept of supporting a charity or a cause in perpetuity and leaving a legacy for future generations. Donors are often surprised to learn how easy it is to create an endowment at a community foundation and that there is a nonprofit institution dedicated to honoring their charitable intent.