Purpose: The JLC Legacy Foundation was established to ensure the long-term financial sustainability of the Junior League of Charlotte, Inc. (JLC) while still supporting annual financial needs aligned with the JLC’s mission. The JLC Legacy Foundation is a critical part of the JLC’s ability to sustain financial giving to community and special program needs outside of the annual operating budget, as well as support the JLC in case of financial emergency.
Oversight and Financial Governance: Active members and Sustainer trustees are appointed to sit on the Foundation Board and have a critical role in managing the health of current endowment funds, as well as ensuring the long-term strategy and growth of these dollars to support the JLC.
Income Disbursement: After the Finance Committee makes a recommendation, the Board will review and make a request for funds from the Foundation. The Foundation’s board will approve of using a portion of these funds on an annual basis. These funds are used for a variety of projects and needs designed to sustain or grow the League’s mission and reach to the community. Distributions by financial year:
2018/2019 – $31,565
2019/2020 – $54,815
2020/2021 – $57,712
2021/2022 – $63,432
Examples: supplement for project dollars for community partners, send people to AJLI training events and conferences, maintaining and enhancing building – physical and technology.
Investment Strategy: The fund is invested across a variety of securities in a conservative manner.
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History: The Community Endowment Campaign of 2001 was established to raise initial funds for the endowment, a separate pool of JLC funds invested for long-term growth.
The formal JLC Legacy Foundation was established in 2007, along with a dedicated Board of Directors, to manage the investment and growth of the JLC endowment, including the funds collected from the 2001 Campaign. In 2010, the JLC Legacy Foundation launched a Planned Giving Campaign to enable members to continue to support the long-term impact and sustainability of the JLC through the contribution of estate gifts.
As of the fiscal year, 2021-2022, over $548,900 has been distributed from the Foundation to supplement community annual project dollars and support special financial needs of the Junior League of Charlotte.