(LACF News) – Reminiscing about the importance of competitive sports in the growth and maturity of their children and their friends sparked in Paul and Jill Cook a special project in 2019. In collaboration with the Los Alamos Community Foundation, they decided to create an endowment that would provide perpetual financial support to further youth sports in Los Alamos County.
Initially funded with their seed contribution of $25,000, the Los Alamos Community Youth Sports Endowment has now grown to over $66,000 from additional contributions and investment earnings. Los Alamos Community Foundation is responsible for investing the fund corpus under the supervision of an investment committee while making available each year 4% of the endowment to a competitively-chosen local youth sports organization. After reserving an administrative fee to further the foundation itself, any financial growth above and beyond those distributions is reinvested back into the endowment for the future. As the endowment grows, so does its annual distribution, which means that more grant dollars become available over time to further the fund’s mission.
The Los Alamos Community Youth Sports Endowment made its first distribution in 2021 through a competitive selection process to which five nonprofits in Los Alamos County applied. Local roller derby team, The Cherry Bombs, was chosen to receive a $1,200 grant to fund their participation in away bouts and support hosting home bouts.
When Los Alamos Community Foundation’s Spring 2022 grant cycle opens on April 1, nonprofits in Los Alamos will again have the opportunity to apply for a grant. Thanks to the generosity of donors and prudent investment of this fund, $1,700 is available this year from the endowment. Visit LACF’s website for more details on this soon-to-be-announced grant cycle.
Los Alamos Community Foundation is proud to help civic-minded community members like the Cooks create endowments that align with their passions. If you would like to have a conversation about supporting your philanthropic passions in Los Alamos, contact the foundation’s Executive Director, Rachel Kizielewicz, at 505-661-4420 or firstname.lastname@example.org.
About the Los Alamos Community Foundation: Established in 2015, the focus of the Los Alamos Community Foundation is to build enduring philanthropy to empower our community’s nonprofit organizations. The Los Alamos Community Foundation currently stewards 14 local endowed funds and has total assets of more than $975,000. For more information about the Los Alamos Community Foundation, visit www.losalamoscf.org.