The FundsPublished on January 9, 2019
The HLOCF is a related component fund of SWIF. SWIF is an independent, nonprofit foundation servicing 18 counties in southwest Minnesota, and its 501(c)3 public charity status extends to the HLOCF, which allows gifts to be tax-deductible.
SWIF owns and manages the assets, provides investment expertise and administrative support, and technical assistance around fundraising, marketing, and grant making to our local board. All funds raised by the HLOCF will exclusively benefit our communities forever!
HLOCF currently has three funds. The first is its endowment fund, which is a fund that is kept in perpetuity to provide an ongoing stream of revenue generated by the investment of principal. That may seem confusing, so more simply put, an endowment is like a savings account. The principal is invested and never spent—only the income is used to distribute to qualifying projects within the community. The stronger our endowment fund, the more resources we have available to invest back into the community now and in the future.
The second fund is an operating fund which is used to cover our expenses such as advertising, mailing, etc. and is kept to a minimum. It may also be used to supplement our granting monies if needed.
Our third fund, a special project fund, is non-restricted and is used to supplement our granting funds or used if a special project comes to our attention.
A fourth project fund was developed and maintained for several years when an anonymous donor contacted the school wishing to make a generous donation, but wanting it handled through the HLOCF. These funds were used for the purchase of a band instrument and for the reconstruction/updating of the “Crow’s Nest” broadcast area at the HLO Football Field. Another anonymous donation was received and those funds were dedicated to the renovation of the ball fields in Okabena. A third anonymous donation was given in 2014 and those funds were dedicated to a new English curriculum for the high school in Okabena. A fourth anonymous donation was given in 2015 and was used for refurbishing the stage area in the HLO High School. A fifth donation was received in June of 2016 and those funds were used for industrial tech equipment, choir robes, updates to the FACS room, and a concession stand at the baseball field.
Our endowment fund is a long-term strategy…it provides dollars now and in the future to invest back into the community. And our project funds help meet current needs because the entire dollar is used for those immediate needs. Whatever your preference, the need is now and the opportunity is within your reach! Gifts of all sizes are welcome and truly appreciated.