Community Foundation of Northeast Iowa completes $600,000 pledge to Sportsplex
October 1, 2018
The Community Foundation of Northeast Iowa has announced that it has fulfilled its $600,000 grant commitment to the Cedar Valley SportsPlex. A grant pledge of $500,000, made in 2010 and granted over an eight-year period, was a major lead gift to the capital building project and remains the largest single grant in CFNEIA’s 62-year history. An additional $100,000 grant was also issued to establish the Cedar Valley SportsPlex Endowment Fund, held with CFNEIA, which provides membership assistance to low-income families and students.
“The Community Foundation and its board of directors understood the significant impact the Cedar Valley SportsPlex would have on downtown Waterloo and on the well-being of residents of the Cedar Valley,” said Kaye Englin, CFNEIA President and CEO. “We are happy to complete our commitment to this capital project and demonstrate the power of endowment building through the Cedar Valley Sportsplex Endowment Fund, which gives greater access to health and recreation opportunities for all people in the Cedar Valley.”
On average, the Cedar Valley SportsPlex Endowment Fund provides 125 families and 25 youth with memberships to the SportsPlex per year, according to Cedar Valley SportsPlex Recreation Services Manager, Mark Gallagher.
“The fund is really beneficial, and was forward thinking on the Community Foundation’s part,” said Gallagher. “It has been essential for those who would not have the ability to pay but need a place for them and their families to prioritize their fitness.”
As a permanent endowment fund with the Community Foundation of Northeast Iowa, the Cedar Valley SportsPlex Endowment Fund will provide its essential purpose forever, and as it grows, so will the number of people it is able to impact. Since its establishment, the amount held in the fund has grown to $140,000 through gifts and investment of the dollars as a permanently endowed fund.
According to Gallagher, the SportsPlex serves community members from every walk of life. “We see plenty of students and families from across the Cedar Valley, and a lot of people who work in the downtown Waterloo area,” said Gallagher.
Financial gifts to the fund of any size are welcome. Gifts can be made on CFNEIA’s secure website at www.cfneia.org/give or mailed to the CFNEIA administrative office at 3117 Greenhill Circle, Cedar Falls, IA 50613. Checks should be made payable to Cedar Valley SportsPlex Endowment Fund. Since the fund is a permanent endowment fund with the Community Foundation of Northeast Iowa, donors to the fund can take advantage of a 25% state tax credit made available through the Endow Iowa program, in addition to normal federal deductions for charitable gifts.