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South Shore Foundation Builds Endowment with Twin Lakes Community Foundation
October 2006

More Funds for Twin Lakes Community Foundation

More Funds for Twin Lakes Community Foundation
Estella Tullgren (center), executive director of the Twin Lakes Community Foundation, accepts a $10,000 contribution from members of the South Shore Foundation board of directors, Judy Loving (left) and Jodie Elizabeth Jeffrey (right). The $10,000 gift will increase South Shore’s Endowment with the Twin Lakes Community Foundation. It will be matched by the Partners Program of the Walton Family Charitable Support Trust and increased by $1,000 through a Winthrop Rockefeller grant.

Directors of South Shore Foundation have increased an existing endowment with Twin Lakes Community Foundation by $10,000. The community foundation, working in Baxter, Marion, Fulton, and Izard counties, makes grants once a year to local organizations which may apply for assistance. The community foundation also channels contributions in line with donors’ specific purposes as well as general needs of the community.

South Shore Foundation Chairman Jodie Jeffrey said any grants made from interest on the endowment would be to further goals of educational advancement, environmental preservation, and economic development primarily in Marion County, part of the territory of South Shore Foundation’s parent company, NATCO.

The South Shore Endowment was able to add another $1,000 to their endowment by taking advantage of the Alpha Initiative from the Twin Lakes Community Foundation, according to Executive Director Estella Tullgren. The TLCF qualified for the Winthrop Rockefeller grant by making both of their yearly matches in the Walton Family Charitable Support Trust Partners Program. The incentives from the Alpha Initiative were offered to local nonprofits to encourage donations to endowments.

South Shore Foundation made its initial endowment gift of $10,000 in 2003 and may designate the interest for grants through Twin Lakes Community Foundation. The South Shore Foundation gift, as well as others made to the community foundation endowment, have been matched and will continue to be matched by the Walton Family Charitable Support Trust through June 30, 2008. Other donors may add to the South Shore Foundation Endowment at any time, and if made before June 30, 2008, they will be matched by the Walton Trust.

Mrs. Tullgren, said the Walton Trust matching money of $10,000 will go into the undesignated fund. That fund also earns revenues which can then be awarded in grants to applicants from the four counties.

Twin Lakes Community Foundation’s current portfolio is more than $900,000, Mrs. Tullgren said. Of that amount, matching funds from the Walton Trust made up $480,000. Board members serve from each of the four counties, and it is an affiliate of the Arkansas Community Foundation. For more information about the Twin Lakes Community Foundation, call 870-425-2694.

Mrs. Tullgren explained the role of a community foundation. “A community foundation provides a home for hundreds of donors who take advantage of this tax-favored way to enhance their charitable giving.” The donors are able to receive all the tax advantages without setting up their own charitable foundation, she said.

To contact the South Shore Foundation in Flippin, call 1-800-775-6682. The eleven - member South Shore Foundation Board of Directors meets quarterly to consider grant applications relating to the foundation’s goals.

 
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South Shore • 301 East Main Street • P.O. Box 209 • Flippin, AR 72634
Phone: (870) 453-8800 • Toll Free: 1-800-775-6682

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