Three New Endowment Funds Established

Michelle Dayvault
September 23, 2024 / 5 mins read

The Harrison County Community Foundation (HCCF) Board of Directors recently approved two new scholarship endowment funds and one new endowment fund. Endowments are a way to support causes one is passionate about forever. A fund begins with a gift placed in a set-aside fund held by the Foundation. The original and subsequent gifts are invested to generate additional, ongoing support for the fund's chosen purpose, whether a nonprofit or cause. One meaningful way to honor the memory of a loved one is to establish an endowment fund supporting a nonprofit organization or cause that was important to them.

Endowment funds recently established include:

  • The Troy Franks Memorial Scholarship Fund - Established by Tiffany Franks in memory of her husband for a graduating student of any Harrison County, Indiana high school student, including home school graduate, pursuing an undergraduate degree in academic, vocational, trade, or certification course of study with preference given to a student’s participation in extracurricular or community service activities.
  • Troy Franks Memorial Engineering Scholarship Fund – Established by Tiffany Franks in memory of her husband for a graduating student of any Harrison County, Indiana high school student, including home school graduate, pursuing a Bachelor’s degree in any Engineering-related field, with preference given to a student attending Purdue University; with preference given to a student’s participation in extracurricular or community service activities and other criteria.
  • Town of Elizabeth Beams Lake Fund – Established by the Town of Elizabeth to support the creation, operation, maintenance, or expansion of Beams Lake or other recreational or beautification activities of the Town in addition to providing support to the public purposes and municipal programs of the Town of Elizabeth, Indiana.

Depending on the type of endowment fund, four or five percent of the fund balance amount can be used for purposes aligned with the original intent. HCCF currently has over three hundred endowment funds established with approximately $40 million in assets.

If a donor would like to support an existing fund such as those previously mentioned, they can log onto hccfindiana.org. To learn more about the types of endowment funds and the process for establishing one, contact Michelle Dayvault, HCCF Director of Development, at (812) 738-6668 or michelled@hccfindiana.org.