–A new philanathropic endowment fund has been established with the Kossuth County Community Foundation to specifically support the greater Algona area through targeted grants for specific purposes.
Officials with the Community Foundation of Northeast Iowa announced this week the formation of the Algona Area Philanthropic Community Development and Betterment Fund, with a significant lead gift from longtime Algona resident and entrepreneur Don Tietz.
The Algona Area Philanthropic Community Development and Betterment Fund is an advised fund, with grant decisions being made by a committee of Algona area community members. Grants will be focused in the areas of community betterment, education, and youth development. The fund is established with the Kossuth County Community Foundation, with investment strategy, financial oversight, professional staff and administrative support provided by the Community Foundation of Northeast Iowa.
The ultimate goal of the endowment is for people who want to create a stronger Algona area to support the fund through donations, increasing the grant amount available to impact its focus areas and the community.
All gifts to the fund are tax-deductible and may qualify for the Endow Iowa 25% state income tax credit. For more information, you can go online to www.cfneia.org/5forthefuture.
