The South Dakota Community Foundation aims to simplify philanthropy and maximize charitable contributions' impact within South Dakota. By helping donors leverage tax benefits, managing administrative details, and investing donations wisely, the Foundation seeks to ensure donations support the state's good causes long-term. They manage over $630 million for more than 1,050 endowed funds, offering grants and support to nonprofits, and serving as a philanthropic resource across the state.
The broad goals of the Nonprofit Savings Account Challenge Grants program are to strengthen nonprofits in South Dakota by helping them build endowment funds to support their work for years to come. The grant offers a matching opportunity where for every $4 raised by the recipient for their new or existing permanent endowment fund at the South Dakota Community Foundation (SDCF), the SDCF will contribute $1, up to $20,000. Organizations have two years to raise the necessary $80,000 to receive the full matching amount. The funds raised are invested in perpetuity, with 4.5% of the average fair market value available annually to support the organization's mission. This grant specifically targets IRS-verified nonprofits in South Dakota, encouraging them to secure consistent funding.