For the month of November, the Hockley County Endowment is participating with Giving Tuesday West Texas. Created in 2006, the HCE has kicked off its 16th year as an affiliate of the Community Foundation of West Texas. At the end of 2021, 198 grants have been created and over $288,580 have been granted to nonprofit organizations that are addressing important needs in Hockley County. The concept of the HCE provides a vehicle to build, over time, substantial endowed funds through contributions both large and small and put them to work in the Hockley County area. Assets are made up of many separate endowments called funds. Although funds are usually pooled for investment purposes, each retains its separate identity for financial accountability and grantmaking purposes. The HCE provides opportunities for donors to achieve their varied philanthropic goals, invest contributed funds prudently, and serves as a responsible steward for the charitable gifts of individuals, families and organizations.
Through the grant making program, the endowment can provide area non-profits with much needed assistance for programs and operations.
Since the endowment’s inception, it has grown to $1 million by donors of Hockley County.
Any donations made cannot be spent down due to the endowment being perpetual as it continues to grow with more time. Seeing gradual growth, the endowment reached $661,233 in 2016andgrewto$678,343in2018.
By 2019, the endowment saw considerable growth reaching $864,473and$993,710in2020.By the end of 2021, the endowment cracked the $1 million mark.
Any non-profit organization within Hockley County can apply for grants. After applications have been received, the Hockley County advisory board that consists of nine members will review the grant applications in an annual meeting and award the grants to chosen charitable organizations.
Started in 2016, Giving Tuesday is slated for November 29 and is a way for individuals to give to their favorite charity or non-profit. The HCE is currently one of 60 non-profits participating this year it is currently the only fund raiser the endowment will be participating. The actual date of Giving Tuesday is November 29, but donations started November 1.
Donations can be made one of two ways through their website at hockleycountyendowment.org or by check mailed to Hockley County Endowment at 6102 82nd Street, Lubbock, Texas 79424.
Grantmaking policy and grant award recommendations are made by the HCE Advisory Board. The Endowment restricts its support to organizations serving Hockley County which are 501(c)(3) or the government equivalent. Grants may be made for startup funding, general operating support, program support and demonstration programs. The Endowment does not make grants to individuals, for political purposes, to retire indebtedness or for payment of interest or taxes. All grant recipients must report on the expenditure of grant funds and results of the supported project within one year of the award. Grant amounts may vary depending on the type of fund from which resources are provided. Grant applications are accepted from March 1 through July 29.
After receiving complete proposals, copies will be provided to the advisory board who will review and provide comments.
The Grants Committee will make recommendations to the Advisory Board. All applicants are required to make a presentation. Applicants will be made aware of the board’s decision as soon as possible after the board meeting at which the application is considered.
Assets that are donated grow the flexible pool of unrestricted community resources or create a fund to target your specific charitable goals.
The HCE was the first regional affiliate of Community Foundation of West Texas – the Community Foundation for the Texas South Plains.
Donors can support the broadest array of philanthropic organizations and causes through the HCE, using a wide variety of assets. Permanent endowment funds can be established for as little as $5000.
The HCE provides opportunities for donors to achieve their varied philanthropic goals, invest contributed funds, and serves as a guide for the charitable gifts of individuals, families and organizations.
Through their grant making program they provide area nonprofits with much needed assistance for programs.
For the year of 2021, the Community Foundation awarded over $3 million in total grants. For Discretionary Designated and Field of Interest Funds the total amount was $1.7 million. Donor Advised Funds equaled $859,030.39 and Program Initiative Funds totaled $376,459.09.
Funds for scholarships totaled $324,432.12 and $115,081.72 Affiliate Grants. The endowment also offered relief funds for 2021 with an amount of $50,300 and $72,225.17 in agency endowments.