The Clarkfield Area Community Foundation (CACF) is once again set to be the beneficiary of the generosity of F&M Bank. In 2013 F&M Bank will offer matching funds for each dollar given to the CACF’s permanent endowment fund up to $15,000.
The CACF was formed in 2008 to develop a permanent endowment fund to benefit the Clarkfield area community. It is the second time the F&M Bank has offered matching dollars to the foundation, gifting $25,000 in in-kind funds to the foundation in 2009.
Through 2012 the permanent fund has grown to $122,000. The 2013 matching contributions would increase the total beyond $152,000, sustaining ever growing community benefits. Sixty one individual contributions were received by the foundation during the last fiscal year. Many were gifted as memorials for loved ones.
Donations are tax-deductible. The principle is not spent but perpetually invested professionally through the Southwest Minnesota Initiative Foundation. All Clarkfield Area Community Foundation board members serve without compensation and no staff are employed.
A conservative portion of fund investment earnings are annually returned to the community through Clarkfield Area Community Foundation grants to local groups for the benefit of the general public of all ages. Including recently announced 2013 grants, which increased 62 percent over 2012 grants, $8,270 in grants has been shared among thirteen various area groups over the last three years.
Contributions, which will be acknowledged by a receipt for tax deduction purposes, may be sent to: Clarkfield Area Community Foundation, P.O. Box 387, Clarkfield MN. 56223