Dr. Charles and Betty Jordan will admit they don’t have a crystal ball. They can’t see into the future. They can’t anticipate the needs of Hancock County five, ten, fifty or even a hundred years from now. But they still want to help their community, now and in the future; and by establishing a community development endowment fund, they have done just that. Community development funds are the perfect vehicle for people who embrace Hancock County in its entirety and understand that as our times change, so will our needs. And time is definitely on the side of endowment funds, since all gifts given to the funds are permanently invested and the grants made from the funds are done so as a result of the income they earn over time. How wonderful that a community development fund such as the Jordan’s meets—and, with the support of the Community Foundation, will continue to meet—the changing needs of our citizens for years and years to come.
The Jordan’s endowment was created partially by an outright gift (money given now) and partially by a legacy or planned gift (money that will come to the Foundation at their passing). This allows the Jordans to both see the results of their generosity today and know that the impact will continue and be even greater after their lifetime.
Their legacy gift will benefit the community development fund at its maturity through a Charitable Remainder Trust that the Jordans established in 2002. This type of trust provides financial benefits to you or loved ones that you have named as beneficiaries. The dividend income from the gift is paid to you or your beneficiaries for a specified period of time; then the principal is either used to establish a fund at the Foundation in your name (or another name of your choosing) or added to an existing fund.
“We have been aware of the Foundation from its very beginning,” Chuck and Betty said. “Initially, we did not totally appreciate the importance of the Foundation’s mission to provide the leadership for philanthropic interests in the county. However, with a series of matching gifts from the Lilly Endowment and the success in raising those funds, it was apparent that the Community Foundation was a much needed organization and widely supported.
“There came a time when we wanted to establish an endowment that would be a lasting reminder of our appreciation for the years our family has benefited from living in Hancock County. With the assistance of John Carreon, then Executive Director of the Community Foundation, we chose to provide funds for the Foundation to administer a Community Development Fund. In this way, various nonprofit organizations would have access to funding, based on need each year. Grants would be made to projects or programs in the areas of health and human services, arts and culture, civic affairs and youth development.”
“We hope that, through our Community Development Fund, positive contributions will be made towards strengthening the health, social and moral development of all citizens of Hancock County.”