When two generous donors stepped forward to help Domus secure a strong financial future by creating an endowment fund, the Stamford organization turned to the Norwalk-based Fairfield County Community Foundation to steward the fund. Creating an agency endowment fund at the Foundation helped ensure Domus would have a steady, reliable source of income, while removing the burden of managing and investing the endowment.
The Domus Fund hopes to build the initial $1 million in gifts into a $20 million endowment, which will provide substantial income each year. The fund also provides an easy way for Domus supporters to contribute to the organization’s long-term financial health.
“Our research found that others could manage our endowment better than we could,” said Mike Duggan, executive director at Domus. “We trust the Fairfield County Community Foundation’s leadership. We already had a relationship with them. We know they know how to protect and grow endowments, and they understand nonprofits.”
Each year, Domus helps over 600 struggling young people in the Stamford region turn their lives around through its educational, residential and community programs. It runs the Trailblazers Academy Charter Middle School and Stamford Academy Charter High School, the Chester Addison Community Center, the Lion’s Den Out-of-School-Time Program, three residential programs for teens and young adults, and other intervention programs for high-need youth.
“Domus joins nearly 30 Fairfield County nonprofits who have created an agency endowment fund with us,” said Linda Franciscovich, vice president of development and philanthropic services at the Foundation. “Our investment policies and management are geared towards long-term growth, providing a source of income to area nonprofits tackling some of the region’s greatest challenges and needs.”
Domus supporters can contribute to the organization’s endowment online through the Foundation’s website – www.fccfoundation.org. After clicking the “Donate Now” button, donors should designate their gift to the “Domus Fund” in the appropriate field.
For information on creating an individual, family, corporate or organization fund at the Foundation, contact Linda Franciscovich, vice president of development and philanthropic services, at 203-750-3200, or lfranciscovich@fccfoundation.org.
For information on Domus, including ways to help make the holidays great for the poorest people in the region, visit www.domuskids.org.
The Fairfield County Community Foundation promotes the growth of community and regional philanthropy to improve the quality of life throughout Fairfield County. Individuals, families, corporations and organizations can establish their own charitable funds or contribute to existing funds focused on specific areas of need or communities in Fairfield County. The Foundation also provides philanthropic advisory services, and develops and leads initiatives to tackle critical community issues. It is in compliance with the Council on Foundations’ national standards for community foundations. The Foundation has awarded over $110 million in grants to nonprofits in Fairfield County and beyond. For more information, visit www.fccfoundation.org.
