Centre Foundation Matches $1 Million During 40 for 40 Campaign
State College, PA – Jan. 20, 2023 – 1 year, 56 funds, and $1 million matched are some of the notable results from Centre Foundation’s 40 for 40 Campaign. Centre Foundation launched the campaign in 2021 to celebrate its 40-year anniversary and showcase its commitment to investing in the community’s future.
$1 million was matched for new endowments that were opened to benefit local nonprofits. Centre Foundation made a 1:1 match up to $25,000 per endowment, and 56 new endowments were opened throughout the campaign.
“We are thrilled with the response we had and seeing how many people took advantage to support nonprofits that they are passionate about,” said Molly Kunkel, Centre Foundation’s President and CEO. “This was an opportunity to celebrate over 40 years of donor generosity, invest in Centre County’s future, and support the organizations that are important to our community members. We are grateful to have been able to match the full $1 million that will be invested back into our community.”
Throughout this campaign, community members came together to support the organizations they love; 43 donors opened endowments to benefit 44 nonprofits. Out of the 56 total new endowments opened, 20 will support organizations that have not benefitted from a Centre Foundation endowment before. Additionally, organizations like these were offered a lower minimum of $5,000 instead of $10,000 to establish an endowment.
The Music Academy is one nonprofit that took advantage of this opportunity. They are a community nonprofit music school that has served Central Pennsylvania since 1964. The endowment they opened with Centre Foundation provides a consistent source of funding so they can focus on serving the community through musical instruction. The 1:1 match of their establishing gift doubled the size of their fund, therefore, providing a greater benefit for the organization.
“Recently [The Music Academy] received an unexpected gift and decided to establish an endowment with Centre Foundation. This matching fund endowment allows us to partner with Centre Foundation, as well as invest in our community,” said Jennene Lundy, Director at The Music Academy.
Endowments opened during the 40 for 40 Campaign benefit a range of interest areas in Centre County such as Health and Human Services, Culture, Community, and the Arts, Environmental Conservation and Awareness, and Education and Lifelong Learning.
- 21 endowments support Health and Human Services, such as the Ethel Beaver Fund
- 9 endowments support Culture, Community, and the Arts, such as State College Choral Society
- 8 endowments support Environmental Conservation and Awareness, such as Centre Wildlife Care
- 6 endowments support Education and Lifelong Learning, such as Park Forest Preschool
Centre Foundation’s mission is to inspire and facilitate a culture of giving to create a vibrant community.