Enterprise Bank’s Elizabeth Bailey and LACF’s Pat Soran at the kickoff of the Enterprise Bank Community Challenge in the fall of 2019. Courtesy/LACF
LACF News:
Los Alamos Community Foundation (LACF) recently received the final matching funds from Enterprise Bank & Trust marking the conclusion of a three-year Community Challenge campaign to raise $300,000 for the Enterprise Bank Community Endowment.
Enterprise Bank created the Community Endowment at the end of 2019 and committed to funding it with $50,000 per year for three years. Presented as a challenge to the Los Alamos community, the commitment of Enterprise was based on LACF securing equal matching funds from local donors.
“Each year of the effort, the community rose to the challenge,” LACF Executive Director Steve Laurent said. “Notwithstanding the pandemic, all three years were successfully completed and we are so thrilled by and grateful for our community’s generosity and philanthropic spirit.”
The Community Challenge establishes a permanent endowment fund with a beginning balance of $300,000 that, through investment earnings and future contributions, will provide a perpetual stream of grant funding to support local nonprofit organizations and charitable causes. LACF will manage the fund to see that it grows while ensuring a steady and enduring source of local financial support. Laurent added that the fund has a broad purpose – grants for charitable, scientific, literary or educational purposes that benefit residents of Los Alamos County.
“This is a tremendous success story all around, especially for the charitable organizations doing such important work in the community who will benefit from the endowment for years to come,” said Liddie Martinez, Enterprise Bank President and Los Alamos Region and Director of Community Engagement. “We are so proud to partner with the Los Alamos Community Foundation, and we look forward to seeing the endowment’s growth and long-term impact.”
Laurent noted that the job is not done.
“We’ll continue to grow the endowment through additional contributions. Anyone can contribute to the endowment at any time – it’s here to benefit the community,” he said.
“It’s important to note that the endowment fund is unrestricted, meaning that funding is not limited to a specific organization or cause. This means that funding will always be available to address changing needs in our community,” Laurent said.
To date, distributions from the Enterprise Bank & Trust Community Endowment have supported several local organizations including Self Help, Inc., Los Alamos Visiting Nurse Service, Los Alamos JJAB, Los Alamos Retired and Senior Organization, Family Strengths Network, Los Alamos Makers, First Born Program of Los Alamos, The Family YMCA, Los Alamos Arts Council, Los Alamos Public Schools Foundation, Pajarito Environmental Education Center and Mind & Melody.
About the Los Alamos Community Foundation:
Established in 2015, the mission of the Los Alamos Community Foundation is to build enduring philanthropy to empower our community’s nonprofit organizations. LACF stewards fifteen permanent endowment funds and supports local nonprofit through training, initiatives and grantmaking. For more information, visit www.losalamoscf.org.
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