(SitNews) Ketchikan, Alaska - The new year got off to a roaring start for the Ketchikan Community Foundation, with the announcement of the potential for $185,000 in matching funds over a four-year period from the Rasmuson Foundation, as well as a $60,000 pledge over four years from First Bank for an operating endowment that will also be matched.

“We couldn’t be more excited and encouraged by these gifts that will continue to help build our Ketchikan endowment into a secure, long-lasting entity that will benefit local non-profit organizations for generations into the future,” said Christa Bruce-Kotrc, KCF advisory board chair.

Sheila Kleinschmidt (left) and First Bank board member Agnes Moran (third from left) presented the Ketchikan Community Foundation advisory board with the first of four annual $15,000 checks to help fund a new operating endowment for the Foundation.
Photo courtesy Ketchikan Community Foundation

“Now all we need to do is meet the match challenge, but we have every confidence in the people and businesses of Ketchikan to rise to the occasion, as they so often do!”

Bruce-Kotrc also announced the 2017 application period – Feb. 15 to March 31, 2017 – during which time local non-profits can apply for this year’s round of grant funds.

KCF expects to distribute a minimum of $20,000 this year. The Foundation last year granted about $11,000 total to four organizations – Ketchikan Volunteer Hospice, Ketchikan Theatre Ballet, Special Olympics, and Ketchikan Area Arts and Humanities Council. The Foundation expects the annual distribution amount to rise each year as the value of the endowment fund grows.

Four-Year Plan for Matching Funds
$60,000 Already Pledged by First Bank

The Ketchikan Foundation operates as an affiliate member under the umbrella of The Alaska Community Foundation (ACF). It is through ACF that The Rasmuson Foundation is channeling a $5 million grant that will provide the same matching funds and support for nine affiliates throughout the state. The plan consists of:

• A match up to $25,000 in donations each year between 2017 and 2020 to Ketchikan’s endowment fund, the earnings of which fund the annual grant requests.
• A $25,000 incentive bonus at the end of four years if KCF meets the $25,000 challenge each year.
• A match up to $15,000 in donations each year for the four years to create and support an operating endowment for the Foundation, separate from the grant endowment. ACF will also fund a part-time program manager in Ketchikan over the next four years.

According to Bruce-Kotrc, First Bank has already stepped up and pledged the $15,000 for four years to fund the operating endowment.

“What an honor it is to partner with First Bank, who leads the community in so many ways,” she said. “This commitment ensures the presence of a KCF office that will sustain the Foundation for years to come.”

Sheila Kleinschmidt, First Bank’s Vice President Community Development Officer, presented the first check to the advisory board. “The Ketchikan Community Foundation plays a vital role in our community in that it provides funding to non-profit organizations that may not qualify under First Bank’s Federal Community Reinvestment Act guidelines,” she said.

“I’m so excited to be able to partner with the KCF and its board of directors. Their growth and ability to so quickly offer grants to the community is testimony to their dedication to this community and its sustainability for future generations. It fits perfectly with First Bank’s Community Development mission to support the communities it does business in. It is a privilege and an honor to represent First Bank in this way.”

The First Bank contribution means the Foundation can focus on raising $25,000 each year strictly for the grant-funding endowment.

2017 Grant Application Process Opens Feb. 15, 2017

Applications for this year’s grant cycle will open Feb. 15 through March 31, 2017. The KCF board has identified three categories they will fund on a rotating cycle. The category for 2017 supports non-profit programs for youth ages 18 or under.

Applications will be available online only and will be found at:
www.ketchikancf.org or www.alaskacf.org

Editing by Mary Kauffman, SitNews

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