Bella Vista, AR - The Northwest Arkansas Community Foundation welcomed the Bella Vista Courtesy Van as its second agency endowment on August 17, 2001. NWACF can assist nonprofit organizations in building a permanent endowment to hold long-term investments.
"Our organization, which is entirely volunteer run, liked the idea of placing our current endowment with the same professional group of managers selected by CommunityCare Foundation. We also want to raise more money for our fund and found the many services offered by NWACF appealing," explained Bill Johnson, President Bella Vista Courtesy Van.
Gene Groseclos, NWACF chair, concurred with Johnson's remarks.
"We believe that one of the most important things that NWACF can do is promote financial stability and long-term thinking among the nonprofits by the use of an agency endowment. An agency endowment fund remains independent, other than having their endowment administered by us," explained Groseclos.
The Bella Vista Courtesy Van was begun in January 1992 with a single 15-passenger van able to transport only riders able to walk. In 1995, a wheelchair accessible minivan was added and in 1997, the original large van was replaced with a six-passenger minivan. CommunityCare Foundation, the supporting organization to NWACF, awarded a grant for $35,000 to purchase a replacement handicapped accessible van last year.
"Bella Vista is mainly a retirement community and has no public transit or taxi service. Our organization offers a much needed service and in turn, this has meant that our vehicles build up significant mileage. Services are in such demand that we are now averaging 24 trips a day. We hope to generate and add new income from our endowment to buy a new van as needed," explained Johnson.
Other new funds include Single Parent Fund of Benton County and two new funds placed into the Horizon Society. The latter two funds, one established by the Botanical Gardens Society of the Ozarks and the other as a donor-advised family fund, allow for individuals or agencies to build their endowments to either $10,000 as an agency endowment or $25,000 as a donor-advised fund.
