Footprints helps lead way for community grants
Kevin Cederstrom firstname.lastname@example.org Not a lot is said about Footprints Foundation since we're talking about close to a quarter of a million dollars in total endowment it's hard to keep the foundation's contributions to the community a secret. Footpri...
Not a lot is said about Footprints Foundation since we're talking about close to a quarter of a million dollars in total endowment it's hard to keep the foundation's contributions to the community a secret.
Footprints Foundation was established in 1985 by J. Eric Anderson to provide a non-profit tax exempt foundation to carry out philanthropic activities in the New York Mills area through voluntary giving.
Footprints is a 501 (c) (3) organization which serves as a legal entity for people to give things away in a tax deductible way. Footprints manages 13 scholarship funds, and funds owned by various groups like the library, banks and the NY Mills Lions.
The total endowment owned by various funds is currently $246,000. Footprints gives away 90 percent of the interest earned and 10 percent goes back to build the fund. The money used for community grants comes from interest earned off the general fund, not individual funds. The organization is able to award grants when the general fund sees an excess of interest.
Footprints recently awarded a $1,000 grant to the Play Matters playground fund. Other grants have gone to NY Mills Public Library projects, the grand piano fund at the school, NY Mills Regional Cultural Center, and the Elders' Home Foundation sprinkler fund.
J. Eric Anderson's initial grant to Footprints, along with many other grants provided by individuals, families and civic organizations serves as the endowment over which the Footprints Foundation Board of Directors presides. The purpose of Footprints is to provide scholarship grants to NY Mills students, to furnish grants for charitable, religious, or other organizations with tax exempt status, grants to aid in rehabilitation and beautification of the community within the geography served by the NY Mills school district, to provide grants to promote the advancement of the arts and sciences and help with historical preservation.
It is the intent of the foundation to administer the endowed funds as benefactors have wished and to use undesignated earnings to fulfill the mission statement.
People wishing to provide funds for the betterment of the NY Mills area or to establish a scholarship legacy can do so through Footprints. All gifts received will be restricted to use of the interest only with the principal staying intact.
Footprints offers two types of memberships - regular and life membership. Regular membership includes individuals, associations, business firms, or other entities who have made a contribution to the Footprints Foundation within 12 months.
Life membership includes individuals, associations, business firms, or other entities who make a minimum contribution of $1,000 to Footprints over a 10-year period.