Backus Endowment fund

The endowment fund is an investment portfolio with initial money provided by donations to the organization. Money is not used to pay utilities or employee wages, rather it ensures the sustainability of Backus community Center for generations to come.

Endowment funds attract donors, especially generous donors. These donors understand Backus Community Center will manage resources well, plan efficiently, and will likely survive crisis. 

In 2019, following a sizeable donation and  pledge by a local donor with a request that their dollars help generate more contributions. Backus Community Center formed a committee to outline plans and goals for the endowment fund's future. A goal of reaching $1 million in three years was established.

Once the $1 million goal is met, earnings may be expended to fund programs and projects that help fulfill the Backus mission such as: 

- Outreach programs to address community needs and opportunities in International Falls and Koochiching County

- Ensuring the prevention and re-use of the historic Backus Building continues in perpetuity 

-Allowing flexibility in times of economic down-turns or major crisis 

Yes, However, they will be liquidated as outlined in the fund's by-law

The Fund can accept gifts and bequests in wills, charitable trusts, gift annuities, assignments of life insurance, and transfer of property (cash, stock, binds, real estate, etc.). We accept pledges for annual gifts across three years. Gifts may be dedicated in memory or honor of a family member or friend.