Bogue Gift Sets Up Rec Center Endowment
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 The Ida Grove Community Recreation Center Endowment Fund was made possible because of a $100,000.00 cash gift from Dick Bogue of Ida Grove on October 19, 2007. The permanent endowment fund has been established for future equipment needs and facility improvements at the Ida Grove Community Recreation Center which opened its doors in December of 2003. The gift will benefit the facility for years to come. The gift protects the recreation center’s operating budget from assuming the responsibility of providing these resources on its own. Bogue feels the Ida Grove Community Recreation Center is a worthwhile cause and this gift was a way to give back to the community. Bogue is also a very active supporter of the University of Iowa.
The Ida Grove Community Recreation Endowment Fund has been established through the Ida County Community Betterment Foundation (ICCBF), an affiliate of the Siouxland Community Foundation. The Foundation manages the fund for the Ida Grove Community Recreation Center to ensure its growth and prosperity. The principal of the fund will never be touched and distribution of the fund shall not exceed 5% per year to secure the fund’s long term growth. Donors making a gift to the Endowment Fund may be eligible for a 20% Endow Iowa tax credit which provides an additional tax incentive to those who invest in their communities. Bogue’s goal for the gift is to inform others that this endowment fund has been created and that it is available for the community to support. “The generous contribution made by Dick Bogue will have a lasting impact on the recreation center for years to come”, said Matt Salvatore, recreation center director. “His legacy will forever live on at the Ida Grove Community Recreation Center.” The Endowment Fund is one of three funds the Ida Grove Community Recreation Center has created with the assistance of the Ida County Community Betterment Foundation. As mentioned previously the Endowment Fund is ear marked for equipment needs and facility improvements. The Sustaining Fund has been established to help defray the operation and maintenance costs of the facility and the Scholarship Fund has been established to assist lower income families with the cost of recreation center memberships and programs. An application process will be in place to determine distribution of the funds for the Scholarship Fund once the fund has acquired enough donations to benefit potential applicants. The recreation center is currently accepting donations for all three of the funds. Any amount, no matter how big or small, is greatly appreciated. The Endowment Fund however is currently the only fund that is eligible for the 20% Endow Iowa tax credit. Contact recreation center director, Matt Salvatore, at 364-3716 if you have any questions in regards to the funds or if you are interested in making a donation. If you would like to mail your donation, you can make a check out to one or more of the following funds: Ida Grove Community Recreation Center Endowment Fund Checks can be mailed to: |
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