Donors and their ideas are the backbone of charitable efforts in America, with roots as deep as the founding of our country, and with tools that revolutionized the concept of endowments. A recent article relates the story:

Boston and Philadelphia, 1790 – Benjamin Franklin, a Founding Father of the United States, got the idea to create an endowment for his native city of Boston, and his adopted home, Philadelphia. In a codicil to his will, Franklin left 1,000 pounds (roughly $4,400 at the time) to each endowment, on the condition that each gift would serve a purpose dear to his heart: to help young printer’s apprentices get started in their jobs, to fund public works – and also earn interest for 200 years.

At the end of the first century, the Boston endowment was used as instructed and had grown to 131,000 pounds, equivalent to roughly $391,000. Over the next 100 years, proceeds of the endowment went to support public works in Boston, including using $322,490 to establish what is now the Benjamin Franklin Institute of Technology in the early 1900s. At the end of the second century in 1990, the two endowments combined were worth nearly $6,500,000. Both endowments have been used to fund public works, and to help thousands of young people achieve their dreams with scholarships and loans.”

Benjamin Franklin actually had a 300-year plan. It should come as no surprise that this most imaginative Founding Father invented American philanthropy and that his plan relied on compound interest (or, money making money).

Last week you might have seen The Meridian Star article about the Community Foundation of East MS presenting over $90,000 to local organizations from endowments set up for their benefit. This is only a small portion of the grants awarded from endowments held by CFEM. Endowments are funds set up to provide a source of funding forever. CFEM accepts donations from the general public to support causes that address needs in the community. From education and arts to animal care and historical preservation to health care and economic development, the Community Foundation is here to support organizations that make life better for our citizens. The Community Foundation of East Mississippi is here “for good” and “forever.”

We are here for good projects like building a park or funding recovery efforts after a disaster, but endowment building is our forever business. Because of our structure, policies, and legal designation CFEM will be here for many generations to come providing funding for causes that matter.

All of the endowments at CFEM accept donations from the general public. Anyone can set up a new endowment for a cause that is close to their heart. With only $500 an Acorn fund can be opened that can grow into an endowment. Only $10,000 is required to begin giving grants from an endowment. Think about a need or nonprofit organization that could use a source of funding that would support it every year forever. Think about the other people you know who would contribute along with you to this cause. You can make a difference and leave a legacy for future generations to continue doing good.

As additional incentive to donate to an endowment at CFEM, there is a state tax credit that refunds you 25% of your gift to an endowment held by the Community Foundation. Contact our office for more information on this program.

A study done by the Center for Rural Entrepreneurship found that $40 billion dollars will be transferred from one generation to the next in Mississippi by the year 2025. What if a portion of this was captured in endowments to fund the needs of Mississippians for decades to come? Consider leaving a gift to your community in your will. Just a simple paragraph is all that is needed. We would be happy to work with you to set up a fund that will distribute the proceeds as you wish for centuries after you are gone.

For more information about the Community Foundation of East Mississippi go to our website, CFEM.org or call us at 601-696-3035.

Leigh Thomas is executive director of the Community Foundation of East Mississippi.