The historic Cummins-Phipps-Grill House provided an appropriate setting for a $100,000 gift recently presented to the Eden Prairie Community Foundation’s endowment fund by Joe and Carol Stoebner. (See below for a slide show from the event and its setting.)
Just as the Stoebners and the Foundation are no strangers to the house – having donated money and given grants for its restoration – so too are the Stoebners familiar with the idea of building a Foundation endowment.
First, a word about what an endowment is, and does. An endowment is a fund that holds its principal in perpetuity. Even as the Foundation works to grow its daily impact in Eden Prairie, the Foundation is also building its endowment as a way to increase the organization’s long-term capacity and sustainability.
In 2004, when Joe was on the Foundation’s board of directors and appointed treasurer, he pushed for an endowment and major gifts campaign that would give the organization the financial wherewithal to make a bigger impact on Eden Prairie and last for years and years.
Unfortunately, subsequent boards took a different direction, and today the Foundation once again is quietly addressing its sustainability by building that endowment fund.
The Stoebners hope others in Eden Prairie will fill follow their example.
“The Foundation needs to have funds available that allow it to grow into a sizable community force that can facilitate giving to others in a variety of ways,” said Joe Stoebner. “We have committed $100,000 to get this effort off the ground and hope many others can join the effort.”
In presenting their gift March 7, Joe also advocated for strong board leadership, full-time staff leadership, and a continued commitment to meet community needs.
In this “quiet phase” of the endowment campaign, the Foundation has received gifts or donations from more than two dozen persons. But it’s still short of its goals, and so invites others to take part.
Why should you give? You can help ensure that the exceptional Eden Prairie we’ve enjoyed will always be a terrific place for neighbors, co-workers, and families – with natural beauty, a resilient economy, and engaged citizenry. Through the Foundation’s endowment, we can leave a legacy for those who follow us.
Has Eden Prairie been good to you? You can establish your Eden Prairie legacy by contributing to the endowment. Contact the Foundation’s executive director, Mark Weber, at (952) 949-8499 or [email protected] for more information.
