The Community Foundation of Washington County is holding their next monthly promotional event tomorrow.
Foundation Fridays are being held at various businesses throughout the county, where promotional materials on the foundation are being distributed to inform the public on the services the foundation provides in establishing endowments or donating towards those existing. Foundation Director Millie Youngquist says the public can also make tax-deductible donations to the foundation at any of the participating businesses, “And our main purpose is to grow endowments. An endowment is a fund that’s permanently invested so that the principal is never spent but every year it’s invested in stocks and bonds and very responsibly. And we work with the Greater Cedar Rapids Community Foundation, they have a company, a firm that does all their investing and so the money is pooled with other moneys so it enables it to grow faster and the fees are less so there’s advantages to that.”