Residents of two area counties have more incentive to meet a $15,000 match which will provide permanent charitable resources for them.
Two $15,000 pledges for the Palmyra State Bank/Bank of Hannibal Fund and the Bank of Quincy Fund were announced Friday. Those funds will serve the respective counties in which the banks are located—Marion County and Adams County.
Last month, the Community Foundation of the Quincy Area announced a match initiative for the 13 counties in its tri-state service area. Each county that raises $15,000 to establish a county endowment qualifies for a one-to-one match of up to $15,000 for its endowment.
For Marion and Adams County residents, that essentially became a two-to-one opportunity with the announcement of these additional funds with the Community Foundation. Once the goals have been met, the Palmyra State Bank/Bank of Hannibal Fund and the Bank of Quincy Fund will also serve as permanent resources benefiting the respective counties. Grants from the funds will support charitable organizations, projects and programs in the respective counties.
Counties will have their own Fund Councils. Each County Fund Council will help secure donations to build the County Endowments to earn the match. The Councils will also review grant applications for their counties.
Counties that decide to establish an endowment have three years, until November 1, 2015, to raise the $15,000 needed to secure their match.