Alaska Bill would Create State-funded Endowment for Community Foundations

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January 20, 2012; Source: Fairbanks Daily News-Miner | A bill was submitted in the Alaska legislature this past week that would provide endowment funds to local community foundations. The Endow Alaska grant program (Alaska House Bill 290) calls for making an annual grant to a lead philanthropic organization. That money would then be distributed to community foundations as one-to-one matches for money raised from local communities.

Thus, says one sponsor, state dollars would leverage local giving and community foundations would be provided with some help in building their asset bases and local support. –Ruth McCambridge