Three endowment funds established to support community

Tyler Best
May 9, 2024 / 5 mins read

The Harrison County Community Foundation (HCCF) Board of Directors recently approved three new endowment funds related to basic needs, education, and the arts in the local community. 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:

  • Jerry and Sheila Wheat Endowment Fund – Established by an anonymous donor to support Harrison County Community Services (HCCS), specifically the purchase of food for Thanksgiving and Christmas food basket distribution as well as other food purchases for HCCS clients in need.
  • Ruth B. Scharf and Paul J. Scharf Literary Scholarship Fund – Established by Maryland Austin and Sheryl Scharf to provide a scholarship to graduating students of any Harrison County high school or home school, with preference given to students with financial need, pursuing a Bachelor’s degree in Primary Education or Language Arts Education.
  • Corydon Central Vanguard Band Endowment Fund – Established by the Corydon Central Vanguard Marching Band Boosters to provide support for the marching band, concert band, jazz band, pep band, winter guard, winter percussion, and solo and ensemble programs of Corydon Intermediate School, Corydon Central Junior High School, Corydon Central High School, and Heth Washington Elementary School.

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 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