The United Way Foundation has established two new endowment funds at Yakima Valley Community Foundation. The first fund is the United Way Foundation Endowment for Operating Expenses. As the name indicates, earnings are earmarked to support operations of the United Way of Yakima County.
"This $25,000 intial contribution is a tremendous first step in the process of building a fully-sustaining endowment," said John Colgan, YVCF President. "In time, it is hoped that this fund will grow large enough to sustain the entire operations of United Way."
"That is the long-term goal," adds United Way Foundation Chair Chuck Bohoskey. "What a great day it will be when United Way is able to say that each and every dollar contributed to the annual drive goes directly to charitable programs throughout the county."
The second fund is the United Way Foundation Endowment for the Annual Campaign. Earned income from this fund is targeted to support the organization's annual drive.
Lance Stephens, United Way President, views the two endowments as vitally important to the advancement of the United Way mission. "There are a great number of donors who have contributed to United Way throughout their lifetimes. These two funds now provide the vehicle for them to include United Way in their estate planning, to ensure that the good works continue in perpetuity."
Colgan pointed out the fact that individuals may make a gift in any amount to the new funds. "I encourage prospective donors to consult with their financial advisors to explore estate planning opportunities that will support the United Way mission."