Nonprofit Insider

DALC Establishes investment fund to ensure sustainability

The DALC Board of Directors in December approved the creation of an agency fund to be administered by the New Hampshire Charitable Foundation.

A decade ago, just as the Dover Adult Learning Center prepared to move to the McConnell Center, the board of directors launched a campaign called Come Help Us Grow! According to Executive Director Deanna Strand, the major gift campaign would ensure long term sustainability and future growth. The five-year campaign successfully reached its $100,000 goal six months ahead of schedule. About half of the funds raised in the Come Help Us Grow! campaign were used to renovate space and make the move to a secure home in the McConnell Community Center.

The remainder of the campaign and additional funds accrued over the years, now totaling $100,000, have become seed money for a new endowment fund that will be a permanent investment generating revenue for adult education in Strafford County long into the future.

NHCF agency funds help ensure that nonprofits will be able to fulfill their mission now and well into the future. NHCF manages all aspects of the fund, including investing the assets in a diversified portfolio and distributing grants to the organization on an annual basis. “The unrestricted revenue will allow DALC some flexibility to try new things and to grow the organization,” Strand said. “Any excess growth gets reinvested, and the annual distribution grows.”

Another measure the board is considering is whether to dedicate bequests received through the Helen Phipps Heritage Society to the agency fund. Phipps became the Director of Dover Adult Basic Education in the 1970’s and went on to found the Dover Adult Learning Center. The Heritage Society was founded in her memory and accepts bequests through wills, insurance policies, trusts, annuities, IRAs or retirement plans. (http://www.doveradultlearning.org/support/heritage-society)

,p>It is the mission of the Dover Adult Learning Center of Strafford County to help adults in the Strafford County area enhance their life-coping skills and improve their lives through basic education, job training, high school completion and enrichment classes. We help our students become more effective lifelong learners, family members, workers and citizens.

 

Posted on: February 6, 2017
Topics: Funding Awards

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